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I'm struggling to find a way for this to happen. If they took the car the first time, how did it come back for a 2nd repo? I have to imagine that you somehow bought the car once more and somehow landed financing for it again. Then, the 2nd company repossessed it. If this is the fact pattern, yes, it will show up twice.
Wiki User
∙ 2006-03-27 20:31:01
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If you're married and your husband's car is soley in his name and was repossessed will it show on your credit as repossessed?
No, because you have your own separate credit report.
What happens to your credit when your car is repossessed?
You end up with HORRIBLE credit if you don't pay your bills and you let your possessions get repossessed.
If you get a repossessed car back is it removed from your credit?
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.
What happens to your credit after a car is repossessed?
Normally your credit is ruined for 7 years.
Is it better to turn your car in that to have it repossessed?
It will still show up as a repo on your credit report, even if you brought the car back and told them you can't pay for it.
If you already have 1 car repossessed does having a 2nd repossessed hurt your credit even more?
yes
How bad does it affect the cosigner's credit if the borrower has the car voluntarily repossessed?
It has the same effect on the credit.
If you allow a car you cosigned for to be repossessed then pay off the balance after it is auctioned will it still affect your credit?
IF you can pay it off AFTER it is sold, it will still show as a repo on your credit. BUT if you can payoff then, pay it off NOW and you get to keep the CAR.
If a car is repossessed and the loan is paid in full and you get your car back do you still have a repo on your credit report?
IF the lender posts a repo on your CR, you have one. You will have the repo on your credit report, but it should also show up as "redeemed".
How can a car repossession be on your credit report when your car was not repossessed?
By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.
How soon can you buy a car after a car has been repossessed?
You can buy a car right after your car has been repossessed. It will however, depend on whether your credit is stable enough to qualify or if you have the cash to pay out of pocket.
If a car was repossessed how long does it stay on your credit before it is removed?
7 years
