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7-10 years and damage is bad. You will have to pay HIGHER interest on loans and BIGGER down payments.

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โˆ™ 2015-07-15 19:10:17
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What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

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Q: How much does a repossession damage your credit?
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Related questions

Is it better to have a repossession or a bankruptcy on your record in regards to credit recovery?

Neither is good. However, a repossession does less damage and is removed from your credit report within less time than a bankruptcy.


Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?

No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.


Does a voluntary repossession affect credit the same way as a reposession?

Yes, there is no difference. A repossession is a repossession.


What will a repossession do to your credit report?

A repossession is a serious negative and will drop your scores.


How can a repossession with a zero balance affect a credit score and can it be removed?

A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.


Is a voluntary repossession better than a repossession?

neither looks good on your credit.


How do you remove a repossession on your credit report after bankruptcy is discharged?

You present proof that the repossession never occured. You can dispute it with the credit reporting agency.


How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?

A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.


How long after repossession can you get a car loan?

The repossession stays on your credit report for 7 years.


Will a voluntary repossession from your spouse affect your credit?

Yes, but perhaps not as adversely as an involuntary repossession.


Does bankruptcy remove a repossession from your credit report?

No.


When your Father passed away how bad will a car repossession affect a cosigners credit?

It depends on how your father's death, the repossession, and the cosigners credit are corelated.

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