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What can you do if your ex got the car in the divorce and was supposed to pay for it but she stopped and the repo is on your credit?
Wiki User
∙ 18y ago
When you sign a loan it is yours and yours alone until you pay it off.The bank doesn't care what a divorce decree says etc. they want their money period.
Wiki User
∙ 18y ago
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How badly does a voluntary reposession hurt a co-signer's credit?
A repo is a repo is a repo, credit wise.
Does voluntary repossession hurt your credit?
YES, on a CR, a repo is a repo.
Does a repo show on your credit when you voluntarily return it?
Yes, a repo is a repo whether you give it up or they take it.
If you do a voluntary repo and get another dealerships car will that hurt your credit as bad as not making any payments for a repossession?
A repo is a repo is a repo.
How long is a repo on your credit?
A repo stays on your credit for at least seven years. However, you may negotiate with the creditor to have it removed earlier.
If you have a voluntary car repo while you are in chapter 13 how does it appear on your credit report?
as a repo
Does the credit company have to warn before repo?
No.
If a car is repossessed and the loan is paid in full and you get your car back do you still have a repo on your credit report?
IF the lender posts a repo on your CR, you have one. You will have the repo on your credit report, but it should also show up as "redeemed".
How long does a paid off car repo stay on your credit report?
7 years from the date of repo.
What happens to your credit with a voluntary repossession?
A voluntary reposession reports on your credit report as a loss. The car company with take the car back and credit a portion of the balance which the owner/leaser still needs to pay on. The creditor will place the "voluntary Reposession" on credit bureau. All in all it will be reported as a charge off debt. If the original owner/leaser doesnt pay the remainder he/she can/will be collected from and could face legal action. A repo is a repo voluntary or not. Ruins your credit for 7 years. What generally happens is that it will be reported on your credit as a repossession. When you go for financing on something else, the repo will pop up and the potential lender will call the lender who reported the repo. When they find out it was a voluntary, it may actually lessen some of the blow of having a repo. But, yes, a repo is a repo.
What does a repo man do?
A repo man is the person who takes back the merchandise you got via loans or credit-cards when you can no longer pay back said loans or credit-cards.
What does Florida law allow for collection of monies owed on a car repossession?
this question can form a wide range of answers it depends on if you are willing to pay on the repo car how ever the most they can do is put it on your credit and it can stay on there for 7 years it will show on your credit report as repo ..a large number of people never pay off a repo car even if you do pay on it to try and save your credit the fact still remain it was repo and it will show repo settlement
