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if i let my vehicle get reposesed will it hurt my credit?
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∙ 13y ago
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If you do a voluntary repo and get another dealerships car will that hurt your credit as bad as not making any payments for a repossession?
A repo is a repo is a repo.
How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
If your husband decides to voluntary turn in his car voluntary repossession would this affect your credit if it's only in his name?
No it would only effect you if you had originally co-signed with your husband when he got the car to begin with.......Now, the only way it would hurt you is if you guys try to get another car or a house or anything of that nature, but you individually by yourself are not effected, but when you try to do something together with your husband, then YES!! This will hurt you big time
Will it hurt if you voluntarily return my car?
Yes, it can still hurt your credit if you voluntarily return a car. The car company will still put the debt you owe on your credit report if they choose too.
If you have a voluntary car repo while you are in chapter 13 how does it appear on your credit report?
as a repo
Will returning a car when your not the co-signer hurt your credit?
It will not hurt your credit by returning a car as long as you have not signed any promissory documents. It will hurt the credit of the person who did get the car for you..please talk to the lender and to the people that signed for the car before you do anything. The signer might want the car if he/she knows that not only the repo will show up on their credit but also any defiency balance and legal actions.
Can making car payments in the grace period every month hurt your credit?
No, it won't hurt your credit. In fact it will improve your score.
If you bought a new car and have only had if for 2 weeks with no payments made can you return it to the dealer will it affect your credit score?
You signed a contract and drove it. It is not new anymore. Returning it would be a voluntary repossession and you would probably owe several thousand dollars. Yes, it would hurt your credit.
What does a car repossession do to your credit How can you delete it from your record?
It hurts you credit tremondously. It will stay on your credit report for 7 years, and there is nothing you can do about it. Do not allow your car to be repossed. Voluntary repossession on not any better. Contact the lender and work something out.
If you have a car returned to the bank will it hurt your husband's credit if he is not on the title or loan?
No
How can you return a new car that you have had for only two weeks without penalty?
Once you sign the papers, it is yours as soon as you drive it off the lot. You cannot return it and you cannot simply give it to the bank and get out of the loan - that is called voluntary repossession and it will hurt your credit. Sorry, there is no good news for you. The only thing you can do is sell the car for what you owe to another person or beg the car dealership to buy it back. Once you sign the papers, it is yours as soon as you drive it off the lot. You cannot return it and you cannot simply give it to the bank and get out of the loan - that is called voluntary repossession and it will hurt your credit. Sorry, there is no good news for you. The only thing you can do is sell the car for what you owe to another person or beg the car dealership to buy it back.
If you have paid on time and would like to get rid of your car will this hurt your credit?
will this hurt my credit?": only if the is a balance due after the lender sells it(likely) and you co-signed the loan.
