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My car was voluntarily repossessed in december of 2006, they sold it at auction for just about what was left on the loan. When can I see my credit score improve?

8 Comments »

1. 

   That repo is a negative and will stay on your credit report the balance of the 7 year reporting period. The older the item, the less impact on your score.

   You need at least 24 months of consistent, on-time payment history to improve your score.

   Comment by bdancer222 — February 17, 2011 @ 11:25 am

2. 

   1 – 2 years of making payments on time.

   And ensure that you paid off the balance that was owed after the car was sold at auciton – that could be looming over your head as well.

   Comment by Hokie_Pokey — February 17, 2011 @ 11:25 am

3. 

   Assuming that you have been making all your payments and keeping your credit balances low, you should expect your credit to begin improving no sooner than 2011.

   Comment by BB — February 17, 2011 @ 11:25 am

4. 

   didn;t they ever send you a huge bill for the unpaid portion of teh loan along with tons of repo fees added on?

   Comment by Doctor Deth — February 17, 2011 @ 11:25 am

5. 

   2013

   Comment by rwa000 — February 17, 2011 @ 11:25 am

6. 

   After couple of years of good payment history on "new" credit.

   Comment by jlf — February 17, 2011 @ 11:25 am

7. 

   I am Mrs.Rose Johnson from the U.S.A,i was in need of $50,000 USD for a business start up and have search every where for a legitimate and government approved lender and i was lucky to be introduced to Mr,William Justin (C.E.O) William Justin Loan Company who lend me the money within 24hrs of banking after i accepted his loan repayment schedule and so i want to advise anyone in need of a loan of any kind to please contact him on williamjustinloancompany@yahoo.com and get your loan today,please tell them Mrs.Johnson refer

   Comment by Voke — February 17, 2011 @ 11:25 am

8. 

   HI ,my names is Joy Rose.i saw your question in yahoo answer .i decide to referred anybody who is dire in need of loan to this God fearing man because i have been SCAMMED twice by this fake lenders.when i have bad credit is this man that gave me{ $60,000] .you can get to him via Email james.wood8483@yahoo.com. tell him joy rose referred you to him who he gave a loan to.Goodluck
   thanks,from joy Rose

   Comment by Joy Rose — February 17, 2011 @ 11:25 am

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