Simplest way to deal with it is to call a local wrecker company to come get it.
Yes they can and they probably will. if you are concerned about your credit profile, it would not be a good idea to stop paying.
sundry creditor shows credit balance
A triple credit report shows your credit score from all three credit reporting agencies: Experian, TransUnion, and Equifax.
The Experian Credit report shows your credit score. It also shows your credit risk level and factors that could raise and lower your score. You can also dispute incorrect credit report info online.
If you are responsible for that item, then, yes, it can stay on your credit report--probably indefinitely.
Charge off is a shortened version of "charged off to profit and loss". This is an internal accounting term for activity creditors take on defaulted accounts. For a consumer's purposes charge off = collection account. This is a defaulted debt that shows as a derogatory account on your credit file.
Buying something and paying it off. It shows the creditor that you are responsible and not a credit risk. Be aware though, you will be flooded with competing credit card company offers.
A creditor can report a car as repo and not correct it unless you call them. If it not their responsibility to make sure your credit report is right, it is yours. If you contact them, they must fix it.
When business receives money in advance....
Yes it does. It shows that eventually you do pay.
shows up on mine
It most likely will not hurt your credit to much, When you apply for credit it shows as an inquiry on your credit report. To many inquiries is bad. And opening an account and closing it right after shows instability to your credit report and it sticks there for 7 years.