How does a voluntary repo affect my credit?

Answer If you cannot make loan payments, you have the option of voluntarily giving up your car, jewelry or other property to the finance company (voluntary repossession). Do this only after careful consid... Read More »

Top Q&A For: How does a voluntary repo affect my credit

How Does a Repo on a Lease Vehicle Affect Your Credit?

Your leasing company has the right to repossess your vehicle if you are even one day late on your lease payments. However, many companies wait longer before taking back the car. Before you break yo... Read More »

How Much Does Your Credit Drop For a Car Repo?

Many people purchasing a car choose not to pay for the vehicle in one lump sum. Instead, the buyer finances his purchase by taking out a loan, using the vehicle as collateral. If the borrower fails... Read More »

How will credit be affected after getting a car repo?

When you finance a vehicle, you agree to make the payments to your lender on time every month. If you do not keep up with your payment obligations, your lender can repossess your car. A repossessio... Read More »

How many points will my credit score drop with a repo?

On One Hand: Probably 100 or SoAccording to, a repossession on your credit reports brings your score down by about 100 points. Repossessions are one of the worst things you can have on yo... Read More »