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Pay off a repossession does it get removed from your credit report?
Wiki User
∙ 14y ago
Paying off a repossession will not generally get it removed from your credit report. If you have a good faith basis for disputing the deficiency on your credit report, you should do that. Many consumers have very good arguments as to why they do not owe the deficiency they are being charged by lenders. In addition to disputing the deficiency on your credit report, you want to be sure to defend any deficiency action brought against you by a creditor. Do not default on these lawsuits. When faced with a competent defense, most creditors, debt buyers in particular, cannot prove their case against you. Winning the case is court certainly goes a long ways toward providing you with a sound basis to dispute the alleged debt on your credit report.
Wiki User
∙ 14y ago
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Can you pay a fine to get a judgment removed from your credit report?
No, judgments remain on a credit report for seven years. Some types of judgments are renewable and therefore can remain on a report an indefinite amount of time. If you are willing to pay a fine, why not just pay the judgment?
Will it still affect your credit report if you pay the full costs ten days after repossession?
As a rule, YES. It is up to the lender to post a repo on your CR and most do it automatically.
If you have several small balances on your credit report can you negotiate to pay these and have them removed?
Credit accounts aren't removed until 7-10 yrs. after they are first reported and/or paid in full depending on which type of account it is.
If your bankruptcy is going to be removed how many points will your credit score go up?
If you have disputed to have the bankruptcy removed in your dispute letter request your free credit report to be sent to you with the updated information. When a CRA corrects information on your credit report they have to send you a free copy of your credit report showing the updated information. This of course is if you had to dispute to get it removed if it just rolls off on its own you may have to pay for your credit report if you've already gotten your free yaerly report. That depends on a lot of factors. Your credit score is calculated using certain formulas and factors, such as amount of total credit versus credit being used, number of accounts, payment history of current accounts, etc. You're best bet is to obtain your score after you think the bankruptcy has been removed. You'll probably have to pay for it, but it's worth peace of mind.
If you pay off an old debt no longer on your credit report will it be placed back on the credit report?
Yes it can. You should agree to pay it only if there is an agreement to not report it to the credit reporting agencies.
How long is a car repossession on your credit report after you pay it off and get the car back?
7 years
Does a car repossession go on your DMV report or only on your credit report?
Only on your CREDIT REPORT. DMV doesnt care how you got it or got rid off it, as long as ya dont steal it or sell before ya pay for it.
Can you pay a fine to get a judgment removed from your credit report?
No, judgments remain on a credit report for seven years. Some types of judgments are renewable and therefore can remain on a report an indefinite amount of time. If you are willing to pay a fine, why not just pay the judgment?
If your car is repossessed but you get current within say two weeks of repossession does the repossession appear on your credit report?
If your power gets shut off and you go in and pay the bill current, did your power get shut off?
Can a lawyer get a repossession off your credit?
If the account contains any incorrect, incomplete, misleading, erroneus, or misleading information, the repossession may be deleted from your credit report. But you do not need to hire a lawyer and pay thousands of dollars. You can hire a credit repair service which will be a lot more cost effective.
Will it still affect your credit report if you pay the full costs ten days after repossession?
As a rule, YES. It is up to the lender to post a repo on your CR and most do it automatically.
If you have been told you have a delinquent debt with a car repossession that was charged off in 1994 can this debt be placed on your current credit report even though you have denied ever owning the car?
A repossession that is over seven years old is not supposed to be on your credit report. It is not unusual for a collection agency to illegaly "reage" a debt in order to try to pressure you to pay. From your post it does not appear that you know what is on your credit report. If you have been denied credit then you are entitled to receive one for free. Contact information for the three credit reporting agencies can be found at solidgoldhomebusiness.com If this item is actually on your credit report then you can dispute the information and demand verification. Dispute instructions will be included with the report.
If you have several small balances on your credit report can you negotiate to pay these and have them removed?
Credit accounts aren't removed until 7-10 yrs. after they are first reported and/or paid in full depending on which type of account it is.
Can an attorney challenge your repossession mark on your credit report and get it cleared?
An attorney can do almost anything YOU PAY THEM TO DO. But remember, roosta, the other side has attorneys, too, and they may be better paid!
If your bankruptcy is going to be removed how many points will your credit score go up?
If you have disputed to have the bankruptcy removed in your dispute letter request your free credit report to be sent to you with the updated information. When a CRA corrects information on your credit report they have to send you a free copy of your credit report showing the updated information. This of course is if you had to dispute to get it removed if it just rolls off on its own you may have to pay for your credit report if you've already gotten your free yaerly report. That depends on a lot of factors. Your credit score is calculated using certain formulas and factors, such as amount of total credit versus credit being used, number of accounts, payment history of current accounts, etc. You're best bet is to obtain your score after you think the bankruptcy has been removed. You'll probably have to pay for it, but it's worth peace of mind.
Can charge offs be removed from a credit report because the person has a medical condition that prevents them from working?
No. Personal financial difficulties regardless of there nature is not a legitimate defense for not paying a debt or for having the negative entry removed from the credit report. You will notbe able to remove charge-offs from your credit report unless you can pay the entire balance in full and negotiate with the original creditor.
If you pay off an old debt no longer on your credit report will it be placed back on the credit report?
Yes it can. You should agree to pay it only if there is an agreement to not report it to the credit reporting agencies.
