I am assuming that the repossession happened 6 1/2 yrs ago. If that is the case then more than likely a third party collection agency is trying to collect the remaining balance after the vehicle was sold at auction. You need to check the statute of limitations in your state. Example in Texas it is 7 yrs , if you made a payment of 1 cent the debt would be valid and the statute would be reset.
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
The repossession stays on your credit report for 7 years.
"Il seize ans" is French for "he is 16 years old."
Of course it is. You voluntarily turn the car in for repossession. It will stay on your credit report for 7 years.
7 years
Same as a regular repo. The creditor may still put the repossession on your credit report and it would stay there for up to seven years. Notice the word "may", because it is at the creditor's discretion...
By federal law, 7 years from the date of repossession or sale or last payment. The state is irrelevant.
For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.
It stays on your credit report 7 years from the date of settlement not the date of repossession.
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.
Yes, There is no statute of limitations on financial matters. You can probably challenge it being on your credit report. But you still owe the money.
7 years.