No. Your credit report is a record of all transactions on reported accounts. The repossession will show in the history, but so will the redemption.
A repossession on your credit is NOT GOOD. Avoid it if there's anyway possible. You say the car is SOLELY in your name?? GO GET IT and sell it.
The repossession stays on your credit report for 7 years.
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.
It depends on how your father's death, the repossession, and the cosigners credit are corelated.
It won't help much unless you can sweet-talk the lender and convince him to remove the repossession from the credit report. Otherwise, the repossession stays on the record and the only 'improvement' to your credit rating would be the lack of an accompanying past due status.
You might be able to get a personal loan after a car repossession. However, you would get the loan at a very high interest rate one the repossession is on your credit report.
You can't rent a car with a car reposession. Unless you do something about it.
no not until it drops from your credit file
It can show at any time. A repossession is compleated as soon as the car is picked up so it does not matter what happens after the repossession it still did happen.
By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.
Of course it is. You voluntarily turn the car in for repossession. It will stay on your credit report for 7 years.
Eventually you will be court orderded to give up your car, and plus with a repossession, you will ruin your credit report and they will do a wage garnishment eventually.
If you are giving up your own car for repo then you tell who you financed the car with you want a voluntary repossession. It still looks bad on your credit, but not as bad as a regular repo does
as a repossession
You should be able to get a car loan with a qualified cosigner. Even with a repossession on your credit you should be able to finance a car loan.
If a car is sold after repossession does the law states that it must be reported to the credit bureau as zero balance?
Goes on your credit as a repossession.
7 years is the norm.
What makes you think you can just return it. You can't. You bought it, you own it. Now if you are talking about doing a voluntary repossession, of course it will ruin your credit for 7 years. A repossession is a repossession, voluntary or not.