how long does a repossesion stay on your credit
Date: Mon, 12/18/2006 - 07:28
i bought a car in 97 and had to do a voluntry repossession I was told that the balance was aroun 5000. balancei was told the car would be sold and i would be old the balance i never heard from the dealer again no they have an attroney from new jersey threaten to file a judgement against me i offered to pay the balance after they give me proof of the balance what should i do they car has been repossed in 8-98
Repossession stays in the credit report for seven years. You are
Repossession stays in the credit report for seven years. You are still liable to pay back the outstanding balance. It becomes an unsecured debt, thus you can plan a repayment with a consolidation company.
