what hurts credit more? letting bnk repo car or advising bnk myself that i would like them to pick up car?

Answer 1

Either way, you are responsible for the balance even if they take the car or you give it back. They will sell it, you owe the creditors the rest regardless. Hate to say it, but see if you can get a longer term, smaller payments, but it will cost a lot more at higher interest rate, but you at least still own a car, and maintain credit rating

Answer 2

Letting the Bank repo your car would hurt your credit report vs if a voluntary repo.
If your account is current and yiou want to return the car, first of all call the bank and explain the reasons that you want to return the car to them and be honest, then follow up with a letter detailing your phone conversation (make sure you get the name of the person whom you talked to, and always ask for an employee number)

When the bank starts the repo proccess, it's because youre behind 3 or more months and hurts your credit more.

If youre giving the auto back because maybe you've been sick or in the hospital, make sure you mention this when you call the bank and in your letter, because lenders look diffrently at the credit history when someone has problems and get behind because they've been ill or in the hospital

Good Luck

Answer 3

Pay something. a repo is a repo. Your credit will be just as hurt either way.

Answer 4

neither one is worse the report is all the same. Call your bank and try to pay something so maybe they won't repossess your car.

Answer 5

couldnt you try selling it.