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 long does a repo stay on a credit report?

A repossession will stay on your credit report for at least seven years. You can pay all of the charges from the repossession to make the account current. This will place a more favorable record ... 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 »

Does having too many credit cards affect a credit score?

On One Hand: Number of Cards Has No ImpactThe number of credit cards that an individual has does not affect his credit score. Having several credit cards can improve your credit score if you have s... Read More »