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Gina, if the repoman picks it up. its a REPO. Ya cant hide the car in a repair shop.

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โˆ™ 2004-03-19 08:42:26
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Q: Is it true that a lender cannot put a repo on your credit if the car is being repossessed at a repair shop having actual repairs done?
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Related Questions

How do you buy a repossessed mobile home w bad credit?

You cannot borrow money if you have poor credit. Try to see if the seller will take payments.


What happens to your credit when your car is repossessed?

You end up with HORRIBLE credit if you don't pay your bills and you let your possessions get repossessed.


If you're married and your husband's car is soley in his name and was repossessed will it show on your credit as repossessed?

No, because you have your own separate credit report.


What happens to your credit after a car is repossessed?

Normally your credit is ruined for 7 years.


If you already have 1 car repossessed does having a 2nd repossessed hurt your credit even more?

yes


Can a motorcycle purchased on credit card be repossessed?

A motorcycle that was paid for on a credit card can not be repossessed considering the credit card company paid the dealer. You must pay the card company back though or they can take you to court.


How bad does it affect the cosigner's credit if the borrower has the car voluntarily repossessed?

It has the same effect on the credit.


Is it legal for a buyer to request the seller who has offered credit for repairs to have a statement in the final paperwork indicating that the credit is for closing costs NOT repairs?

No how can it be leagel


How does getting a car repossessed affect credit?

Stays on your credit rating for 7 years. Has a very negative effect.


What are the laws of repossessed cars in Canada?

Cars repossessed laws in Canada a vary by provine.Whether your car will be repossessed depends on such factors as the province you live in and how for behind you are with your payments.Vehicle repossessed is negative impact on your credit rating. If you want more information email me at natalsiapatterson34@gmail.com


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

7 years


As a cosigner can you have a vehicle repossessed without affecting the cosigner credit rating?

Nope.


How can a car repossession be on your credit report when your car was not repossessed?

By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.


Can a car be repossessed if the title work has not yet been completed and whose credit would the repo affect?

Yes it can and will effect your credit


How do repossessed cars affect your credit rating?

A car reposession will leave a major black spot on your credit rating for 7 years.


If your car has your mothers and your name on the title but she is deceased how does this affect you if it is repossessed?

Goes on your credit as a repossession.


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 happens if you stop paying on a laptop you were renting?

The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.The laptop will be repossessed and the amount you owe will be increased by late fees, costs and penalties. The default will be reported to your credit record where it will do considerable damage.


Where can repossessed cars be bought?

Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.


If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?

Only if the dealer reports it to the credit bureaus.


What happens to your credit if your car gets repossessed?

Your credit is severely damaged. Stays on your credit report for 7 years. Don't let this happen. Contact the lender and work something out.


How much would it hurt your credit if the car you co-signed for gets repossessed?

Just the same as if it was your car repossessed. Legally, you hold the same liability as the primary buyer.


Is the actual decision to grant credit is made by a credit bureau?

No


If a spouse's car gets repossessed after their death does it affect your credit rating?

If your name was on the note, yes.


If your spouse's car was repossessed can you make payments to get it back?

Yes. And that will help out their credit history too:)