0
If you have been told you have a delinquent debt with a car repossession that was charged off in 1994 can this debt be placed on your current credit report even though you have denied ever owning the car?
Wiki User
∙ 8y ago
A repossession that is over seven years old is not supposed to be on your credit report. It is not unusual for a collection agency to illegaly "reage" a debt in order to try to pressure you to pay.
From your post it does not appear that you know what is on your credit report. If you have been denied credit then you are entitled to receive one for free.
Contact information for the three credit reporting agencies can be found at solidgoldhomebusiness.com
If this item is actually on your credit report then you can dispute the information and demand verification. Dispute instructions will be included with the report.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
Repo how long will it take to get on credit report?
If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.
If your car is repossessed but you get current within say two weeks of repossession does the repossession appear on your credit report?
If your power gets shut off and you go in and pay the bill current, did your power get shut off?
How does a vehicle repossession affect your credit if everything else in your credit report is good?
Absolutely. Repossession, whether voluntary or involuntary, show on your credit report as a charged off account. This designation is similar to a collection account and shows that you did not repay the vehicle loan. Such a listing in your credit report would have a significant negative impact.
Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
Does a voluntary repossession affect credit the same way as a reposession?
Yes, there is no difference. A repossession is a repossession.
What is delinquent credit history?
A delinquent credit history refers to instances where a borrower has failed to make timely payments on their debts. This can negatively impact their credit score and make it harder for them to obtain credit in the future. Delinquent accounts can stay on a credit report for up to seven years.
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.
What will a repossession do to your credit report?
A repossession is a serious negative and will drop your scores.
Is a voluntary repossession better than a repossession?
neither looks good on your credit.
How do you remove a repossession on your credit report after bankruptcy is discharged?
You present proof that the repossession never occured. You can dispute it with the credit reporting agency.
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 do you improve your credit score with deliquencies?
Bring delinquent accounts current, pay revolving account balances down below 30% of the available credit, and let time pass since the last delinquency.
