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you can not have true info removed legally from your credit report.

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โˆ™ 2011-09-13 13:47:47
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Q: What steps do you take to repair your credit after a repo?
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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.

Repo how long will it take to get on credit report?

If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.

Can a repo company take possession of vehicle from a place of business like an auto repair shop?


How would RV repo hurt credit rating?

How could it NOT hurt your credit rating? I'd say that you could easily slide 200 points having an RV repo on your record, and it could take years to recover from it.

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.

Is there a way to repair a credit report?

There are several steps an individual can take in order to repair all forms of bad credit and their reports. The best way is to get a loan on something high priced like a car or home and make the monthly payments on time.

If you call your motorcycle lender and tell them to come and take the motorcycle because you can't afford it anymore will that go on your credit as a repossession?

The same thing. A repo is a repo. Your breaking the contract.

Is it possible to reset my credit history score?

No, there is no way to reset your credit score. If you are serious about restoring your credit, start by contacting your debtors and making payment arrangments. It also sounds like you should contact a credit advisor to learn how these decisions affect your credit and how you can take steps to move in the right direction to repair it.

How long does it take to improve your credit score if you follow all the generally recommended steps?

It can take about a year to fully take care of your credit.

Does paying off a deficency on a repossesion take it off your credit as a repo?

NO. What this will do is satisfy the debt only. This will show in favor on your credit, but it will still show as a repo. You are better off paying the debt. If you are doing this, make sure to have them issue a satifaction of debt letter to the credit bureaus. This will increase your score.

What services does Credit Repair Lawyers offer?

Credit repiar lawers assist in cedit repair helping clients impelment steps to up their credit score, helping clients with debt settlement, defends clients in debt collector lawsuits. There are lots of resouses online where you can find ways to check and help your own credit. be careful of credit repair lawers who charge an upfront fee.

Best way to repair credit?

Making repair to your credit is not a difficult task, but it does take time and patience. Truly what you need to do is simply take steps to evaluate your use of credit and then see where changes can be made. Then not only will your credit be repaired, your credit score will raise as well.

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