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You end up with HORRIBLE credit if you don't pay your bills and you let your possessions get repossessed.

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โˆ™ 2016-02-06 04:50:10
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Q: What happens to your credit when your car is repossessed?
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Related questions

What happens to your credit after a car is repossessed?

Normally your credit is ruined for 7 years.


What happens if you get your car repossessed?

if i get my car repossessed, can they put a llien on the house?


What happens to you if your car is repossessed?

You loose your car...


What happens to your credit if your car gets repossessed?

Your credit is severely damaged. Stays on your credit report for 7 years. Don't let this happen. Contact the lender and work something out.


If you're married and your husband's car is soley in his name and was repossessed will it show on your credit as repossessed?

No, because you have your own separate credit report.


If you already have 1 car repossessed does having a 2nd repossessed hurt your credit even more?

yes


How bad does it affect the cosigner's credit if the borrower has the car voluntarily repossessed?

It has the same effect on the credit.


What happens I could not pay the car loan because I left the country?

If you are in default (for any reason) they have the right to seize the asset (car)


If a married couple buys a car using the wifes SSN for credit purposes and the husbands income to get a loan what happens if the car is repossessed and whose credit will it affect?

The person or persons names that appear on the loan contract.


How can a car repossession be on your credit report when your car was not repossessed?

By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.


If a car was repossessed how long does it stay on your credit before it is removed?

7 years


How soon can you buy a car after a car has been repossessed?

You can buy a car right after your car has been repossessed. It will however, depend on whether your credit is stable enough to qualify or if you have the cash to pay out of pocket.

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