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If a car is repossessed twice will it show up on your credit twice?
Wiki User
∙ 18y ago
I'm struggling to find a way for this to happen. If they took the car the first time, how did it come back for a 2nd repo? I have to imagine that you somehow bought the car once more and somehow landed financing for it again. Then, the 2nd company repossessed it. If this is the fact pattern, yes, it will show up twice.
Wiki User
∙ 18y ago
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If you're married and your husband's car is soley in his name and was repossessed will it show on your credit as repossessed?
No, because you have your own separate credit report.
If you get a repossessed car back is it removed from your credit?
No. Your credit report is a record of all transactions on reported accounts. The repossession will show in the history, but so will the redemption.
Is it better to turn your car in that to have it repossessed?
It will still show up as a repo on your credit report, even if you brought the car back and told them you can't pay for it.
What happens to your credit after a car is repossessed?
Normally your credit is ruined for 7 years.
If you already have 1 car repossessed does having a 2nd repossessed hurt your credit even more?
yes
If you allow a car you cosigned for to be repossessed then pay off the balance after it is auctioned will it still affect your credit?
IF you can pay it off AFTER it is sold, it will still show as a repo on your credit. BUT if you can payoff then, pay it off NOW and you get to keep the CAR.
If a car is repossessed and the loan is paid in full and you get your car back do you still have a repo on your credit report?
IF the lender posts a repo on your CR, you have one. You will have the repo on your credit report, but it should also show up as "redeemed".
How bad does it affect the cosigner's credit if the borrower has the car voluntarily repossessed?
It has the same effect on the credit.
How soon can you buy a car after a car has been repossessed?
You can buy a car right after your car has been repossessed. It will however, depend on whether your credit is stable enough to qualify or if you have the cash to pay out of pocket.
How can a car repossession be on your credit report when your car was not repossessed?
By mistake. Waste no time contacting the credit reporting companies, and demand that this entry be removed from your credit report.
After you buy a repossessed car does it stay marked as repossessed as long as it is driven even though it is paid 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.
If a car was repossessed how long does it stay on your credit before it is removed?
7 years
