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I think the B/K is the lessor of the 2 evils. from what I've read, its better(if there is such a thing) to wait until the creditorsget the judgments. The do the B/K thing and get the repos and judgments taken off at one time.get legal advice before you do B/K, it stays on your record for up to 10 yrs.

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โˆ™ 2015-07-16 18:05:38
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Q: Is a repossession better than bankruptcy on your credit report?
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Does bankruptcy remove a repossession from your credit report?

No.


Is it better to have a repossession or a bankruptcy on your record in regards to credit recovery?

Neither is good. However, a repossession does less damage and is removed from your credit report within less time than a bankruptcy.


Can you file for bankruptcy with a repo on your credit?

The fact that you have a repossession on your credit report is not a determining factor of whether your can file for bankruptcy. Generally in bankruptcy you can remove the debts from the repossession of your vehicle.


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.


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.


What will a repossession do to your credit report?

A repossession is a serious negative and will drop your scores.


How does bankruptcy affect your credit ratings?

Bankruptcy lowers your credit report.


Need to get a reepo off my credit report?

i need to get a repossession off my credit report


How long will a car repossession be on credit?

Like other credit items in your history (other than bankruptcy) it will remain on your credit report for 7 years. You may be able to have it removed sooner if it is not documented properly.


When will a 1999 discharged bankruptcy be removed from a credit report?

It should be removed from the credit report in 2009. A bankruptcy remains on a credit report for ten years from date of discharge.


How do you get bankruptcy off your credit report?

A bankruptcy will remain on a credit report for the required ten years, it cannot be removed arbitrarily.


If you file bankruptcy will it also erase a vehicle repossession on another person's credit report?

It doesn't erase anything on your own credit report....just adds to it, why would it change someone elses? It adds that you are a bankrupt as well as having missed payments and had a repossession. A credit report simply reports what happened in the past....what ever you do now does not change it...you live with the history you created.


What does a car repossession do to your credit How can you delete it from your record?

It hurts you credit tremondously. It will stay on your credit report for 7 years, and there is nothing you can do about it. Do not allow your car to be repossed. Voluntary repossession on not any better. Contact the lender and work something out.


How long does it take after a bankruptcy is discharged to show on your credit report?

The amount of time a bankruptcy stays on your credit report after discharge differs between Chapter 7 and Chapter 13 Bankruptcy. With Chapter 7 bankruptcy, the Chapter 7 stays on your credit report for 10 years. Chapter 13 bankruptcy, after discharge, it shows for 7 years on your credit report.


Does a bankruptcy remove the crediters from your credit report?

No, the information remains on your credit report.


How long after repossession can you get a car loan?

The repossession stays on your credit report for 7 years.


If you have a repossesion on your credit report when you file for bankruptcy will that be removed from your credit report?

No. The repossession will be its own listing. If is was including in the bankruptcy, it will be listed as 'included in bankruptcy' but it will still be listed as its own listing.UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Bankruptcy from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "bankruptcy" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The Federal Court that the bankruptcy was filed in may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.Not only can you get a Bankruptcy Legally Removed from your credit report but you can also get Foreclosures, Default Judgments, Tax Liens, Repos, collections etc...all removed. All negatives no matter how bad, how many or how recent ... they all can be removed legally!


How long does a business bankruptcy stay on credit report?

A business bankruptcy is visible on a business credit report for approximately 10 years.


What are the laws pertaining to a credit reporting agency still reporting after a bankruptcy discharge?

Debts included in the bankruptcy should be noted as such in the credit report. The bankruptcy will remain on the credit report for ten years.


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.


In Maryland how long does a bankruptcy stay on your credit report?

Chapter 7 will stay on your credit report for 10 years from the date bankruptcy was filed. Chapter 13 typically stays on your credit report for 7 years from the date the bankruptcy was filed, however, can remain on your credit report for 10 years.


Can you remove bankruptcy from credit report?

Yes you can remove a bankruptcy from your credit report. You must dispute it to the credit bureaus using the Fair Credit Reporting Act. The credit bureaus have 30 days to verify the listing or it must be removed from your credit report. A bankruptcy should only be disputed if it is erroneous or inaccurate.


Can a bankruptcy entry on a credit report be removed when the bankruptcy was discharged in 1999 and it is listed on the credit report as 2006?

No, it cannot be removed but the information can be amended to read correctly. A bankruptcy discharge remains on a credit report 10 years from the date of discharge.


How long does chapter 13 bankruptcy stay on credit report?

Bankruptcy filings typically stay on a debtor's credit report for 10 years.


How long does a bankruptcy stay on a credit report?

Ten years from the date of discharge.