A repossession is a serious negative and will drop your scores.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
No.
You present proof that the repossession never occured. You can dispute it with the credit reporting agency.
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
Anytime a negative item is removed from your credit report, it will raise your credit score unless new collections are added to your report.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
i need to get a repossession off my credit report
No.
The repossession stays on your credit report for 7 years.
The effect on your credit will depend on how the lender chooses to report it to the credit bureau. Sometimes a lender will be willing to report it 'paid as agreed' or 'settled' entry on the credit report rather than an actual repossession. If it is reported as an actual repossession or foreclosure it will be on your credit for seven years and negatively effect your rating.
You present proof that the repossession never occured. You can dispute it with the credit reporting agency.
A Lot.
YES
It stays on your credit report 7 years from the date of settlement not the date of repossession.
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
Anytime a negative item is removed from your credit report, it will raise your credit score unless new collections are added to your report.
If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.