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.
No, because you have your own separate credit report.
You end up with HORRIBLE credit if you don't pay your bills and you let your possessions get repossessed.
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.
Normally your credit is ruined for 7 years.
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.
It has the same effect on the 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 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".
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.
The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.
By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.
Stays on your credit rating for 7 years. Has a very negative effect.
Absolutely. Once the car is considered repo'd it is all paperwork, otherwise you could just hide the car from the lender.
Just the same as if it was your car repossessed. Legally, you hold the same liability as the primary buyer.
Goes on your credit as a repossession.
Yes it can and will effect your credit
A car reposession will leave a major black spot on your credit rating for 7 years.
It is possible but not advisable to break a lease on a car. The car would be repossessed, and the repossession would go on your credit report.
If your name was on the note, yes.
Yes. And that will help out their credit history too:)
Unless the credt card company is the lienholder on your vehicle, no.
You should pay off your repossessed car if you want to fix your credit quickly. If you are not worried about your credit, you can wait to pay off the car or file for bankruptcy.
u have no choice now. What state?