Jan
27
I need credit advise ?
By
I bayed car almoust 7 years ago . We had so many problems with it and took it to shop many , many times. Well it got to point where we took it back ( voluntary). Well that showed on my credit as repossession . I have been told that it stayes on there for 7 years . Is there anything that i can do to remove this or is there anything else that i can do. Thank you
Passive Income
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4 Comments
January 28th, 2010 at 12:52 pm
why should it be removed you didn’t pay your loan
January 30th, 2010 at 8:16 pm
Write a letter to the credit reporting agencies (Equifax, etc) explaining why you took the car back. They won’t take it off your record but will put a copy in your credit report to explain it.
January 31st, 2010 at 1:23 pm
its there for 7 years, there is nothing u can do
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February 2nd, 2010 at 1:58 am
You can also go online to and add to that particular credit a statement added by you.
It shows up immediatley. Yes, it will stay on your credit report for seven years, even if you pay it off it will remain on unless you ask that reporting agency to remove it.
Yes, sadly you will have to pay it in order to have it possibly removed. How long did you have the car? If you kept receipts on all the work that you had done to and the times noted when you had called about the problems with the vehicle, you may go to an attorney and see what they say legally.
But for now add a statement and see what happens, whatever you do good luck.