It will show as paid or satisfied.
not much, basically your hands are tied. when you pruchased the vehicle and signed a contract it was probably stated in there that if the vehicle is repossessed it will be sold at auction and the balance/credit of the debt is the responsibility of the purchaser
Nope.
it doesn't matter if the pope takes over your vehicle payments. if he stops making them, your credit is damaged and the vehicle is repossessed.
In Canada the answer is yes if it is repossessed by a bank (or credit institution). Any car that is re-possessed by a bank or credit company has to be put up for auction. You can always get your vehicle back if you pay whatever arrears you owe the bank as well as the the fees that the bank had to pay to the repo company before it is sent to the auction house. However, you do need to act quickly. I have never heard of anyone getting their vehicle back once it is up for auction (and in Canada the auction companies used by banks are only open to car dealers).
No. When a vehicle is repossessed either voluntarily or by the lender, it must be sold at public auction for the fair market value or as close to that amount as possible. Any deficiency between the sale price and the loan balance will be the responsibility of the primary borrower and/or cosigner.
Unless the credt card company is the lienholder on your vehicle, no.
Possibly up to 7 years.
Slow pay, repo, and it gets worse from there.
they can try - usually they repo and sell vehicle at auction - then sue you for the difference. If you have no income then essentially explain that to them or a lawyer if applicable. Chances are they will drop the issue and just stick it on your credit report as a repo and negative write off.
The car isn't damaged, the debtor's credit rating is. There is no permanent record of the car as a repossessed vehicle like there is for a salvaged title.
Get a car dealers license and go to Manhiem Metro Atlanta Auto Auction in College Park, GA.
No, because you have your own separate credit report.