Is a repossesion a big deal when you have all other credit cards paid for including one loan?

Answer 1

By big deal, you mean negatively impact your credit score, then yes. Your score will drop to the level of those with charge-offs. I don't think it will matter much if you had a loan from 2 years ago, or some other credit cards still open.
Also you can expect the other credit cards to close your accounts, it is called universal default.
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