It will cause the credit score to decline and will remain on the credit report for seven years, perhaps creating problems for the person to obtain future credit/loans.
Consumer credit can be considered to be a complicated work of art. When a credit purchase is made it affects the credit score. Having good credit is essential to making huge purchase such as a house or a car.
VERY possible. reporting repos is up to the LENDER(of course, they usually do). It was very much repoed from you sooo. Nothing you can do about the co-signor having or not having a repo on their credit.
I think I'm having an adverse reaction to work!
Having a bad credit loan negatively affects a person in many ways. Having bad credit enables a person from being able to obtain other loans including those having to do with home financing, vehicle financing, etc.
No, a car can not be repossessed due to having no registration. A car can be repossessed for non payment. The police can have a car towed to an impound lot if there is no registration.
Having an automated teller machines really affects the business credit card processing,because through ATM people will just withdraw an amount to pay directly what they got and they have a control everytime they want to buy something because they know that they will pay it with cash and not to be charge in credit cards.Finally, improper use of credit cards can be a big risk.
When your car is repossessed, they sell it for what they can get. Value has nothing to do with what price it brings. They simply get what they can. You are then responsible for the difference in the amount they sell the car for and the balance on the note. Your credit is then ruined for 7 years. This is why having a car repossessed is a horrible idea, and should be a last resort.
In the UK if your house is repossessed it will stay visible on your credit file for 6 years. It would be very difficult to obtain credit with this on your file. It is possible to obtain another mortgage but this would be from a specific lender and your monthly repayments would be considerably higher. If you have mortgage arrears or in the process of having your property repossessed this can be stopped. If you type in your address bar "stop repossessions" you should be able to find help.
There were adverse effects of temperature of people. This is a sentence containing the word adverse.
It depends whose name is on the loan. If it's just the husband, then no. If both names are on the loan, then it affects both people.