I have a letter if you would like it that you can send to the parties involved that may or may not be able to help you get this off your credit report.
let me know if you would like it.
By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.
A repossession can drastically hurt your credit score. The repossessed account may report late payments (30, 60, 90 days late), a pad due balance, and a charge-off. A repossession can lower your credit score anywhere from 30 to 200 points depending on the other accounts reporting on your credit report.
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.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
A repossession is a serious negative and will drop your scores.
If your power gets shut off and you go in and pay the bill current, did your power get shut off?
i need to get a repossession off my credit report
yes it has a 10 year limit
It won't help much unless you can sweet-talk the lender and convince him to remove the repossession from the credit report. Otherwise, the repossession stays on the record and the only 'improvement' to your credit rating would be the lack of an accompanying past due status.
A credit report is a record of all transations on a reported account. In the life of a vehicle loan, many things can happen. Over the typical four to five years, the vehicle may have been repossessed and then redeemed and paid off. In these cases, yes, repossession and settlement can show on the same vehicle, on the same credit report.
A repossession hurts your credit score whether it is voluntary or not. The creditor will report late payments, a charge off status, and a balance if one is owed. A repossession may hurt your credit score anywhere from 60 to 120 points.