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Information only comes off the credit report when the original creditor who reported the information requests the credit bureau to remove it, or if the credit bureau removes it after they have made the attempt to contact the creditor to request them to remove it and the creditor fails to respond. If the creditor cannot be located which is another way they may fail to respond, the credit bureau may remove it after a period of time. In all cases, you the consumer must initiate the process to contest the information in writing. Because the credit bureau customers are the creditors and not you, the credit bureau will only make changes when their customers (the creditors) ask them to. The creditors all pay annual fees to the credit bureaus to be a member and have the ability to put payment history information into your credit file. That's why the consumer must contest the information, then force the credit bureaus to validate and confirm the information with their customer first, then take the appropriate action once they get a response or fail to get a response.
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∙ 16y ago
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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.
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.
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.
Will a voluntary repossession from your spouse affect your credit?
Yes, but perhaps not as adversely as an involuntary repossession.
Does a voluntary repossession affect credit the same way as a reposession?
Yes, there is no difference. A repossession is a repossession.
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 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.
Is a voluntary repossession better than a repossession?
neither looks good on your credit.
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.
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.
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.
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.
