No, because you have your own separate credit report.
yes it has a 10 year limit
By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.
Yes, however you can easily take care of this and have your credit reports corrected.
No, the information remains on your credit report.
what ever the balance was at the time of foreclosure will report on your credit report
no, it should stay on your credit report for life.
A repossession can drastically hurt your credit score. The repossessed account may report late payments (30, 60, 90 days late), a pad due balance, and a charge-off. A repossession can lower your credit score anywhere from 30 to 200 points depending on the other accounts reporting on your credit report.
There are 2 ways to remove a repossession from your credit report. You can dispute it to the credit bureaus under the FCRA and they have 30 days to verify the listing or it must be removed from your credit reports or you can contact the creditor that repossessed the car and negotiate the removal of it upon payment of any money owed. The entry is likely to be changed to late, but paid. Most of these fall off after 7 years.
Paying the car off was good but having to repo it to get it paid off was BAD or negative. the lender did report that it was PIF,HUH?? So they reported the good and the bad.
yes you do so the bank or dealer wont report it to creditors. When a vehicle is repossessed it must be legally sold for the fair market value, or as near as possible to that price. The amount obtained by the sale is applied to the remaining balance of the loan. The borrower is responsible for any deficit amount plus applicable fees. A repossession is almost always entered on a credit report.
the BALANCE DUE at time of repo PLUS repo fees and fees to come later.
It will cause the credit score to decline and will remain on the credit report for seven years, perhaps creating problems for the person to obtain future credit/loans.
How can I get a lien removed from my credit report what is the statute of limitation law?
A shortsale will report as Settled for Less than the Full Balance and will stay on your credit report for 7 years.
Dispute them with the credit bureaus.
To do that you have use whiteout
No. It will show that you had a judgment on your credit report for up to seven years, but it will show a zero balance.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
No, a BK does NOT remove negative items in credit reports.
It is up to the LENDER to report a repo. Usually they DO report it and it stays on your CR for 7 years.
No. You are the primary borrower, and it will be entered as a repo. on your credit report.
No. Your credit report is a record of all transactions on reported accounts. The repossession will show in the history, but so will the redemption.
In a word, yes.