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Of course it is. You voluntarily turn the car in for repossession. It will stay on your credit report for 7 years.
What else can I help you with?
Can a dealership still finance you a car even though you have a low credit score?
Financing through a dealership can be acquired even if you have a low credit score. See an individual dealership for details. They can discuss options for your individual situation.
Can a dealership send an application for credit approval without a signed credit application?
Yes. In many states, the dealership can send in an application for credit approval without a signed credit application. That is called pre-approval. They can make it real easy for you to buy. The loan does not become official until you sign the papers. You do not owe one cent until you sign the papers and drive off in your car. Still, the dealership can do the work of getting you credit approval before you sign anything.
Its been 19 years and something is still on credit report?
If it has been 19 years and something is still showing on a credit report, you can request to have it removed. Contact the three credit reporting bureaus and ask all of them to remove it for you.
Does trading a car in hurt your credit score?
Trading in a car typically does not hurt your credit score. However, if you still owe money on the car you are trading in and the dealership pays off the remaining balance, it could affect your credit score temporarily.
If the debt is not showing on your credit report do you have to pay it?
You still owe the debt but if it isn't reflected on your credit reports then it won't impact your FICO score which is what everyone bases the decision on giving a loan or not.
If you are given a blank check from a loan company for a vehicle purchase and instead are granted credit through a dealership can you still use the blank check at another dealer for another purchase?
no
Can you return a car if the dealership gave it to you to drive and two months later the bank still has not gotten the paperwork?
If you did not sign any loan or payment paperwork, you can return it and they can't post anything on your credit. They have to have that signature. If they do post it on your credit, you can dispute it for free and have it removed.
If you bought a car from a dealership that did not perform a credit check and did not report monthly to the credit bureaus can they still place a repo on your credit?
they can if they are a member of the credit burea but they usually do not because if it is a tote the note lot they usually aren't a member because they don't want attention called to them and there business practices so they try to stay low profile
Can car dealership approve credit and two weeks later financing says not approved credit?
I had the exact thing happen to me with a KIA dealership here in FL. I'm still not convinced that it's legal but they lost in the deal. I had a new van to use for 2 weeks (which I ran to Georgia twice)and than when they got it back we had the hail storm. I like to think they got theirs.
Why is my credit card payment not showing up in my bank account?
There could be a few reasons why your credit card payment is not showing up in your bank account. It may take a few days for the payment to process and appear in your account. Additionally, there could be a delay due to weekends or holidays. If you are still concerned, it's best to contact your credit card company and bank to investigate further.
What type of entry is placed on a credit report when a bankruptcy petitioner reaffirms their auto lease?
The auto lender would show that the loan has been reafirmed or just simply show that payments are still being made thus you still have an active open account showing on your credit report.
Why is my purchase not showing on my credit card statement?
There could be a few reasons why your purchase is not showing on your credit card statement. It's possible that the transaction hasn't been processed yet, there may be a delay in the system updating, or there could be an issue with the merchant or your credit card company. It's best to wait a few days and check again, and if it still doesn't show up, you may need to contact your credit card company for assistance.
