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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).
What else can I help you with?
Does the family values affect the family members?
Yes it does.
Does a voluntary repossession affect credit the same way as a reposession?
Yes, there is no difference. A repossession is a repossession.
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.
How does immigration affect their family relations with their family members from their native country?
It dosent
Will a voluntary repossession from your spouse affect your credit?
Yes, but perhaps not as adversely as an involuntary repossession.
How does a repossession affect your credit?
It hurts it very badly.
How did deaths of family members affect Andrew Jackson life?
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.
How bad does a car repossession affect your credit report?
A Lot.
How does Alcoholism affect family members?
Terribly. Contact "Alanon" for relief from these horriffic affects.
How does panic disorder affect family members?
I have panic disorder ........ it does but they are not mad they want to help because they are your family!...belive me .. i know
When your Father passed away how bad will a car repossession affect a cosigners credit?
It depends on how your father's death, the repossession, and the cosigners credit are corelated.
How long does a voluntary repossession affect your credit rating?
7 years.
