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Our car was repossessed. If we pay fees and get it back, do we still end up with a repo hit on our credit?
2nd November 2009
The bank has said we can get our car back if we can scrape together two months of payments due. But, since the car was repo’d a few nights ago, is it to late to save a repo report going on our credit history? Is it reported only if the car is, in fact, sold at auction or otherwise disposed of?
Posted in: Auction FAQ | | Comments (4)
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the repo will show up on your credit history
Comment by pickmefirstplz — November 2, 2009 @ 1:52 am
I think you are safe from having a repo on your credit report but you will have late payments and that in itself is not good on your credit.
Comment by 67Bronco — November 2, 2009 @ 1:52 am
sooner the better/maybe able to talk the guy in the bank out of it by showing faith immediately/however on the other hand the repo stuff isnt that bad now/with the current obama stances the repo rates are out of sight/so its a toss up whether it really matters in these times
Comment by ken k — November 2, 2009 @ 1:52 am
Hi,
On credit reports it may end up their. Hopefully not. But regardless if it did just do your dearest you can . Some times it is hard with our times we live in . However if you do well from their on it will look good on your credit report their after. No one is perfect and we live in an imperfect world so it doesn’t mean you are an bad person just because an difficult time came your way !
Some times it could also reflect on the insurance for your car as they pass the credit fraction to the insurance company. But don’t worry. Just get back in their and do your very best and remain positive during time when things went negative I Know what it feels like and we rrecoveredfrom such in time. Just keep an positive outlook all the way
Comment by Grandpa Mike — November 2, 2009 @ 1:52 am