How long does a repossession stay on your credit report?

Repo on Your Credit

It stays on your credit report for 7 years to the day the loan became delinquent. Say you made your last complete up to date car payment August 15, 2001 and you fell behind about a month after that staying one month behind until December when you missed another payment becoming 2 months behind. The repossession then occurred in January 2003.

This will stay on the credit report until September of 2008 for that 7 year period, regardless of when the loan winds up getting paid off.

It can stay on the report a bit longer if it goes to court and the bank gets a judgement against the borrower. Say this happens in 2004, then that stays on the credit report another 7 years until 2011.

Bankruptcies stay on 10 years while delinquencies and defaults stay on for 7 years.

More Answers

• Accounts generally stay on your credit report for seven years.

• 7-10 yrs. depending on what state you live in.

• Seven years, unless you're applying for a high-paying job or a very large loan or life insurance policy, in which case the repossession will always be reported.

• A repossession stays on your credit report seven years. After 7, get a copy of your report and make sure it's off. If it's not contact the big three credit reporting agencies.

Answer

7-10 years

Answer

7 years.

Answer

7 years from the month and year you last paid the account on time immediately prior to default.

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