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Mea, dont be snowballed by yo lender. A repo is a repo. IF you or your Dad were worried about his credit, chances are that it would not have gotten to repo stage. Anyway, the lender calls the shots on reporting repos to credit bureaus, so, play their game. Go get yo car and see if it shows up. Good Luck

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โˆ™ 2015-07-16 19:18:53
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Q: If you reinstate the loan within five business days will your credit not be affected by the repossession?
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Related Questions

Is a joint applicant's credit affected by a car repossession?

If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.


Will the surviving spouse's credit rating be affected by the repossession of the deceased spouse's car?

AnswerIf the surviving spouse was not a joint borrower on the vehicle loan the repossession affect/appear on their credit report.


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.


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.


Does business bankruptcy affect personal credit?

If your business is tied to your personal credit, then yes, you run the risk of being personally affected by the business's bankruptcy.


Does business bankruptcy effect personal credit?

If your business is tied to your personal credit, then yes, you run the risk of being personally affected by the business's bankruptcy.


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.


Can a car repo prevent from buying a house?

Any repossession negatively affects your credit rating. Negatively affected credit ratings will affect your ability to obtain loans, typically in a negative way.


How long after repossession can you get a car loan?

The repossession stays on your credit report for 7 years.


Will a voluntary repossession from your spouse affect your credit?

Yes, but perhaps not as adversely as an involuntary repossession.


Why is business credit important?

Business credit is important if you ever want to get a business loan or line of credit. Without good business credit, you reduce the chances of being granted a business loan at reasonable interest rates. It is important to establish business credit as a completely separate entity from your personal credit to help reduce the risk of having your personal credit and assets affected should the business go bankrupt or experience other financial turmoil.


When your Father passed away how bad will a car repossession affect a cosigners credit?

It depends on how your father's death, the repossession, and the cosigners credit are corelated.


If you do a voluntary repossession on your truck will your dad's credit be affected as the co-signer?

VERY MUCH affected. You AND Pop will be expected to pay the balance due after the lender sells the truck. Try to sell it yourself.


How does a co-signers credit for get affected if the car he signed for is reposessed?

The co-signer will also have a repossession showing on their credit as well. The co-signer is just as legally responsible for the car as the person they signed for.


Does bankruptcy remove a repossession from your credit report?

No.


What will a car repossession do to your credit rating?

A repossession on your credit is NOT GOOD. Avoid it if there's anyway possible. You say the car is SOLELY in your name?? GO GET IT and sell it.


How have Credit crunch affected businesses?

The Credit Crunch has affected businesses in multiple ways, but the most devastating is not allowing businesses to get proper capital to be able to run effectively. Although it is more difficult to get credit these days it is not impossible. There are still lines available if you have a strong business credit score. I wouldn't count on using your personal credit thought to get a line for your business.


Will a repossession affect your credit?

Yes, it's one of the worst things that you can do to your credit.


Will a business bankruptcy affect your personal credit?

If your business credit is established as a completely separate entity from your personal credit, then you can reduce the risk of having your personal credit and assets affected by a business bankruptcy. One of the best ways to establish business credit is to register to receive a D&B D-U-N-S® Number.


How will voluntary repossession of my home in Texas affect my credit?

The effect on your credit will depend on how the lender chooses to report it to the credit bureau. Sometimes a lender will be willing to report it 'paid as agreed' or 'settled' entry on the credit report rather than an actual repossession. If it is reported as an actual repossession or foreclosure it will be on your credit for seven years and negatively effect your rating.


How does a repossession affect your credit?

It hurts it very badly.