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It is up to the LENDER to report a repo. Usually they DO report it and it stays on your CR for 7 years.

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โˆ™ 2015-07-15 19:28:57
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Q: If your car is repossessed and you pay to get it back does it stay on your credit as a repo?
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Related questions

How long does a paid off car repo stay on your credit report?

7 years from the date of repo.


If a car was repossessed how long does it stay on your credit before it is removed?

7 years


How long can a mobile home repo stay on your credit?

Seven years from the entry of the judgment.


If after ten years the repossed car is still on your credit report do you have to pay the loan back?

i repo in six states and as far as i know it will stay on your credit report until you settle your debt to the lien holder


Can a lender report repossession of a discharged auto?

If they repossessed it as part of the bankruptcy (and you didn't get it back), probably yes. However, the bankruptcy itself is a bigger black mark than the repo, especially since it can stay on your credit report longer (up to 10 years after filing, though some bureaus remove Chapter 13 after 7 years; repos only stay for 7 years).


How long does a voluntary repo stay on your credit and does it look bad to other car dealers?

7 years just like a regular repo. Looks the same too.


Does a repossession remain on your credit report if you get the vehicle back?

It remains for 7 years, from the date of repossession/charge-off, even if you get the vehicle back. However,If you don't pay the loan off, after it was repoed, then the original creditor MAY get a judgment against you, that judgment will stay on your credit report for 10 years. Unless you are able to settle out of court. It can; however, depend on the lender and the situation. Some might not put a repo on your credit if you redeem the vehicle promptly and stay current from then on. If they have to sell your vehicle at auction, you most definitely will get a repo on your credit. I know of some people who redeemed their car and never had a repo reported, just the lates. BTW, even if you get a repo on your credit, you have a good chance of disputing it off. You can dispute a lot of things off your reports, even if they are legit. Been there, done that.


After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid off?

The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.


What does Florida law allow for collection of monies owed on a car repossession?

this question can form a wide range of answers it depends on if you are willing to pay on the repo car how ever the most they can do is put it on your credit and it can stay on there for 7 years it will show on your credit report as repo ..a large number of people never pay off a repo car even if you do pay on it to try and save your credit the fact still remain it was repo and it will show repo settlement


How long does a repossession stay on your credit score?

A repo will stay on your credit report until the remaining balance is paid off or settled, you still owe the amount left on the vehicle even though the car is not in your possession.


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.


Does a repossession stay on your credit report if you get the car back?

YES


If you have two cars in your name but you are considering letting one car go back to the company after you get another one how will this affect your credit?

Do you mean defaulting on the loan and allowing it to be reposessed? If so, it will show up as an auto loan default and repo. That will stay on your credit report for several years. Best to sell it and pay it off.


How does a house repossession effect your credit?

In the UK if your house is repossessed it will stay visible on your credit file for 6 years. It would be very difficult to obtain credit with this on your file. It is possible to obtain another mortgage but this would be from a specific lender and your monthly repayments would be considerably higher. If you have mortgage arrears or in the process of having your property repossessed this can be stopped. If you type in your address bar "stop repossessions" you should be able to find help.


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...


What are the consequences to one's credit if a vehicle is repossessed?

It adversly effects your credit for 7 years. Except for a Chapter 7 bankruptcy which remains on the report for 10 years, no bad debt can stay on your credit repair beyond 7 years from the date the debt was originated. The law is on your side that it must come off.


If you bought a car from a dealership that did not perform a credit check and did not report monthly to the credit bureaus can they still place a repo on your credit?

they can if they are a member of the credit burea but they usually do not because if it is a tote the note lot they usually aren't a member because they don't want attention called to them and there business practices so they try to stay low profile


How soon does the repo go on your credit?

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.


You are currently in a bankruptcy however they repoed your car anyway What can you do?

It depends. If the repo was after you filed, and the lender did not obtain relief from stay to repo, you file a motion to hold the lender and the repo entity in contempt of the automatic stay, and ask for an order that the lender return the vehicle. If the lender did get relief from stay, you cannot do anything. If you are representing yourself, as the saying goes, you have a fool for a client. If you have a lawyer, why aren't you asking him/her?


How long does a judgment stay on Texas credit report?

how long does personal judgement stay on credit in texas


How long do repossessions stay on your credit report?

Vehicle repossessions stay on you credit report for 7 years.


How long can a repossessed car stay on your credit?

Laws vary by state. Seven years is a general rule of thumb. However, there is the potential for it to be perpetual - the lender can "sell" your debt to another company, who in turn add a fee and interest, and it remains on your credit report. Ten years is the federal upper limit though.


What happens if you cannot pay on your car loan any longer will your credit be bad and for how long what if it is aution what about the upside down amount that is left after being sold do i still pay?

If you can't pay anymore, the lender has the right to repo. The repo will be reflected on your credit report just like everything else. It will stay on their just as long as everything else. If it is auctioned, the lender has the right to charge you and seek judgment on the difference that the car sold for vs. what you owe them. So yes you will be hounded for the difference plus any costs to repo, ship, auction, paperwork, etc.


What happens to your license plates after your car gets repossessed?

License tags are the property of the state which issued them. The repo company should return them to the DMV or motor vehicle bureau. Different rules in different states. In some states they stay with the car and in others they belong to the person they were issued to and in others they are returned to the state.


What does automatic stay under title 11 mean concerning a repossessed car?

I'm assuming you are asking regarding a bankruptcy. An automatic stay is a utility of the court, that legally prevents contact with you from creditors after they have been notified of the bankruptcy proceedings. Once you file, the stay protects you and your proerty for as long as the stay exists. Once the BK is dismissed or discharged, the stay is lifted. While the stay is in effect, the vehicle cannot be involuntarily repossessed.