2006-10-18 02:59:40 · 8 answers · asked by beccaandruss 1 in Business & Finance ➔ Credit
Ruin it!! Do you really think the credit bureaus ignore repos??? Do you think prospective lenders will lend someone money at a fair rate when the person already has a poor or nonexistent repayment history?
2006-10-18 03:05:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
you can not buy a home for at least 7 years. a repo comes off your credit in 7 years. i've seen people that has a repo stay on their credit for 12 years. you can get an attorney to remove it. and you can get a loan, but you will pay a high price while your paying it off, BUT it will build your credit back up too!! good luck to you.
2006-10-18 14:20:02 · answer #2 · answered by princesswhitepaw 3 · 0⤊ 0⤋
Having your car repossessed will destroy your credit. It's a loan that you failed to pay back. The bank only knows that you didn't hold up your end of the agreement, you didn't pay your bills.
Establishing and keeping a good credit record is extremely important to the well being of your life.'
2006-10-18 03:07:58 · answer #3 · answered by Bluealt 7 · 0⤊ 0⤋
It will destroy it. You will not be able to get another loan, mortgage, credit card, exceptance to an apartment that runs credit. It shows that you cannot honor a loan any type. An apartment will think that you wouldn't pay the rent. So no one will be able to take a chance on you.
2006-10-18 03:02:23 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Repo your credit score.
2006-10-18 03:01:32 · answer #5 · answered by Casinomule 3 · 0⤊ 0⤋
you will certainly not be issued major credit until that is off your report. Even after 7 years the entry may have to be disputed to be removed.
2006-10-18 04:38:13 · answer #6 · answered by WednesdayLady 2 · 0⤊ 0⤋
Completely destroy it for at least 7 years.
2006-10-18 03:01:44 · answer #7 · answered by kam_1261 6 · 0⤊ 0⤋
probably destroy it
2006-10-18 03:08:05 · answer #8 · answered by jefferson 5 · 0⤊ 0⤋