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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.
What else can I help you with?
How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
How long after repossession can you get a car loan?
The repossession stays on your credit report for 7 years.
What does Il seize ans mean?
Il a seize ans means he is sixteen years old
You returned a car to the dealership and its still showing on your credit?
Of course it is. You voluntarily turn the car in for repossession. It will stay on your credit report for 7 years.
How long is a repossession on your records?
7 years
How will voluntary repossession of a vehicle affect a persons credit score?
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...
Do you still owe on a repossession from 10 years ago?
Yes, you may still owe on a repossession from 10 years ago if the debt was not settled or discharged. Typically, creditors can pursue the remaining balance after a repossession, which is known as a deficiency balance. However, the ability to collect on that debt may vary based on state laws and the statute of limitations, which could limit the time a creditor has to pursue collection. It's advisable to check your credit report and consult with a financial advisor or attorney for specific guidance.
How long does a repossession in Mississippi stay on your credit report?
By federal law, 7 years from the date of repossession or sale or last payment. The state is irrelevant.
How long does a voluntary repossession stay on your credit report?
For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.
If a repossession stays on your credit report seven years does that start from the date of the repo or the date of the final sale?
It stays on your credit report 7 years from the date of settlement not the date of repossession.
How can a repossession with a zero balance affect a credit score and can it be removed?
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.
Do i owe on a car repossession over 7 years old?
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.
