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Negative credit rating. Stays on your credit report for 7 years. Don't let it happen.

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20y ago

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If you adds your sister as a second cardholder to an account will your credit be negatively affected by your sister's bad credit?

No. Only is she became a joint account holder, then both persons credit would be affected if any default occurred.


If you reinstate the loan within five business days will your credit not be affected by the repossession?

Mea, dont be snowballed by yo lender. A repo is a repo. IF you or your Dad were worried about his credit, chances are that it would not have gotten to repo stage. Anyway, the lender calls the shots on reporting repos to credit bureaus, so, play their game. Go get yo car and see if it shows up. Good Luck


If you have bad credit will it affect the credit score of your spouse?

Your credit standing alone won't affect your spouse's credit. The only way your spouse's credit would be affected along with yours is if you jointly hold accounts and then fail to pay them.


Can you get your car back after it has been repossed?

yes you would have to pay all the back payments and probably a fee.


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I am going to go by the office today. I do not have good credit so this will be a test, I will let you know tomorrow. In the meantime I also would like to know if anyone has gotten an approval.


If you still owe a considerable amount on your car that isn't running should you continue to make the payments and insurance or voluntarily surrender it or sell it and take out a loan for the balance?

Sell or continue to make the payments. Do not let the car be repossed. This would hurt your credit and is the last thing to do.


How is your credit score affected if a credit card company closes your account because of inactivity?

Your credit score is affected by ALL the information in your credit history. Specifically, a recently closed, inactive, revolving account would impact the amount of credit available to you, thus changing your debt-to-available-credit ratio. If this particular acccount was the oldest account in your file, closing it would also shorten the history of your open credit accounts. The amount of impact to your current score would depend upon what remained open in your file and, once again, ALL the data showing, not just this one account.


Can you buy another house and let the one you are in go through foreclosure?

Yes. Note that your credit score would be adversely affected.


What if you refuse to allow your car to be repossed?

If it is to be repossessed legally then you are guilty of an offence. The offence and the penalty would depend on the circumstances and the country in which you reside.


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Do you have to pay for vehicle after being repossed and loan not satisfied?

Yes, you still have to pay. You signed a agreement stating that you would pay for the car. So the balance that you pay is the cost of the repossession and the cost of the vehicle after it is sold. No! Then company will try to scare you but you don't have to pay it because its still going to be on your credit report.


What happens if you walk away from your mortgage?

You can't "walk away" without losing the equity, if any, in your property. Your credit rating would also be seriously affected.