as a repossession
as a repo
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".
Repos are reported by the LENDER to the CRA.
Your credit report contains the entire HISTORY of your credit life. The repo will appear on your record but if you've had good credit dealings over the past 15 years it may well only affect your current credit worthiness marginally.
7 years from the date of repo.
It is up to the LENDER to report a repo. Usually they DO report it and it stays on your CR for 7 years.
If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.
you can not have true info removed legally from your credit report.
Do they? NOT usually. CAN they?? yes, if you convince them to. reporting a repo is reporting a fact. The repo DID happen. They report the payoff. That is a fact also.
As soon as the report can be filed and notated ... maybe a couple days to a week or two at the most. In this present day and age of technology, it might appear almost instantly. Btw, the bad mark on the credit report will stay there from 7 to 10 years.
Yes. I find you, and there is your car too....
For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.