Answers.com > Wiki Answers > Categories > Business & Finance > Personal Finance > Debt and Bankruptcy > Debt Collection > Repossession > How can you remove a voluntary repossession from your credit and should you consider bankruptcy to fix your credit?

How can you remove a voluntary repossession from your credit and should you consider bankruptcy to fix your credit?

In: Repossession [Edit categories]

Answer:

Answer

B/K will NOT fix credit unless you consider NO credit for 7 yres. "fixed". It will get it off your record.

First answer by ID0000000000. Last edit by ID0000000000. Question popularity: 31 [recommend question].

[report abuse]

	When your bank stops payment on wrong check?	Answer it!
	What are PA laws on emission from a car?	Answer it!
	Why is there a lien on your car?	Answer it!
	Can you file for bankruptcy on a car loan?	Answer it!
	What are shares of ownership in a country?	Answer it!

How does a voluntary repossession affect your credit?
it's all the same whether you turned it in or they picked it up
Can you fix your credit if you have a repossession?
Yes, time heals all things. Money and repaying ON TIME helps tooo.
What happens to your credit with a voluntary repossession?
A voluntary reposession reports on your credit report as a loss. The car company with take the car back and credit a portion of the balance which the owner/leaser still needs to pay on. The creditor...
How do you fix your credit if you had a car repossession?
First, get all 3 of your credit reports (free for the first request in 1 year). Review each item. Look for accuracy-- and mistakes. If you find any mistakes, talk to the creditor -- the company to...
Does voluntary repossession hurt your credit?
YES, on a CR, a repo is a repo.