if a repo'ed car gets paid off completely, does it somewhat remove the bad mark from a credit report or will it show up permnently as a repo?
2007-10-28 05:40:16 · 5 answers · asked by ivory 1 in Business & Finance ➔ Credit
To the poster who stated to challenge it, do you mean with the credit bureaus? and how does one go about doing that? any info would be appreciated!Thanks
2007-10-28 08:33:07 · update #1
it still shows up as a repoe with a zero balance. one step forward..two steps back
2007-10-28 05:56:49 · answer #1 · answered by hilary duff 3 · 0⤊ 0⤋
1. Anything bad on a credit report, even a late payment without a repo, says on the credit report after full payment is made.
2. Nothing bad will show up "permanently". Everything bad, except bankruptcies, is supposed to be removed after 7 years. (Bankruptcies are supposed to be removed after 10 years.)
2007-10-28 06:19:25 · answer #2 · answered by StephenWeinstein 7 · 0⤊ 0⤋
it will show as a voluntary repo even if you pay the loan off completely. Is it as bad as involuntary in my opinion yes it is lenders will be wary of loaning you any more money with that showing up.Once its put on your credit it won't be removed so easily besides the company will tell you voluntary doesn't hut as bad but it does
2007-10-30 14:28:33 · answer #3 · answered by D H 3 · 0⤊ 0⤋
The repo will show but as paid. Paying it off will also save further negatives from court judgments, liens, and garnishments.
2007-10-28 07:52:07 · answer #4 · answered by bdancer222 7 · 0⤊ 0⤋
If the balance has not be paid yet, ask if they will remove it completely if the balance is paid. Make sure you get it in writing.
2007-10-28 21:46:38 · answer #5 · answered by Anonymous · 0⤊ 0⤋