The only person it affects is the person the item is being repossessed from. Unless, one of the family members is a co-signer on a loan of the repossessed item. Then, they can bear the responsibility of repaying the loan and it will show on their credit report as well. I'm not aware of what is being repossessed, but the implications of repossessions may affect others...just not financially, unless taxes are involved (like a home).
Yes it does.
Yes, there is no difference. A repossession is a repossession.
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
It dosent
Yes, but perhaps not as adversely as an involuntary repossession.
It hurts it very badly.
It affected president andrew's life because those were the only family members and that meant a lot to him. Andrew Jackson was the only president who had all family members killed.
A Lot.
Terribly. Contact "Alanon" for relief from these horriffic affects.
I have panic disorder ........ it does but they are not mad they want to help because they are your family!...belive me .. i know
It depends on how your father's death, the repossession, and the cosigners credit are corelated.
7 years.