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What are the consequences to one's credit if a vehicle is repossessed?
Wiki User
∙ 18y ago
It adversly effects your credit for 7 years. Except for a Chapter 7 bankruptcy which remains on the report for 10 years, no bad debt can stay on your credit repair beyond 7 years from the date the debt was originated. The law is on your side that it must come off.
Wiki User
∙ 18y ago
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What is the most repossessed vehicle?
Ones on which the owners are late on the payments. :-)
What is the most commonly repossessed vehicle?
Ones on which the owners are late on the payments. :-)
Who is responsible for damage to a vehicle during a repossession?
the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.
How do you get car back after repossessed in the state of Florida?
call the bank, they are the only ones that can release the vehicle to you, good luck :)
If your car was repossessed for one day how can it be removed from your credit report if it is showing on your report as repossessed now open?
talk with the ones who repossesd it to change there remark, try to make a deal,like promise to pay out early,pay on time for a period of time,what ever it is get it in writing for evidence
Can a car dealer resell a repossesed car in Illinois?
When cars are financed, they're usually financed by a bank or some other type of lender. Once the car is repossessed, and the person it's repossessed from fails to recover the vehicle, the vehicle is sold at auction. Dealers attend these auctions, and bid on those cars. Once they've placed a winning bid and paid for the vehicle, it's theirs to sell. Now, if a dealer is the one who financed the car, they'll be the ones to repossess it. Once they've determined the person it was repossessed from isn't recovering the vehicle, they have every right to sell it. Hate to break it to you if this was your car, but it was never yours - so long as there's a lien on that vehicle, the lien holder is the rightful owner of the vehicle. Once they've given up on you reclaiming and making further payments on that vehicle, they can do whatever they want with it - because it belongs to them, and always had, from the moment they became the lienholder.
You are actually the ones doing the repo when you picked up the car the guy had kicked in both of the doors what recourse do you have in this situation?
If the debtor kicked the doors of the vehicle being repossessed notify the creditor and document the incident. If it was your vehicle then the debtor may be liable for criminal mischief which is a criminal offense in most states.
What credit cards do longhorn steakhouse accept?
plastic ones
Where is there a place that you can donate your car?
Lots of places want used cars. Goodwill, Car Talk are the commonly known ones. Be careful to be sure that you will get a credit, and see if they will pick up your vehicle.
What kind of consequences can happen when poor decisions are made?
bad ones
What is the meaning of Experian Credit score online?
The Experian credit score is calculated by ones credit reports. This score is also called a 'risk score', which will be delivered as soon as a lender sends a request for ones credit report. In this case 'online' just means that one has online access to ones Experian credit report and score.
What are the advantages of credit card consolidation?
Credit card consolidation consolidates all of ones debt. Credit consolidation makes it easier to pay off ones credit card debt with a lower interest rate than most credit card companies.
