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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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Related questions

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.


If you file bankruptcy will that remove a charge off report from a credit card?

Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.


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


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.


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.


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.

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