Answers.com > Wiki Answers > Categories > Business & Finance > Personal Finance > Debt and Bankruptcy > Debt Collection > Repossession > If you had vehicle repossessed seven years ago and it has been turned over to a collection agency will the collection stay on your credit report until it is paid in full?

If you had vehicle repossessed seven years ago and it has been turned over to a collection agency will the collection stay on your credit report until it is paid in full?

In: Repossession, Credit Reports, Credit [Edit categories]

Answer:

Repo on a Credit Report

The question is a little vague, however here's what I can say: IF, and it should have been, the repossession was first put on his credit report 7years ago then no. Any negative credit - excluding bankrupcy - by law must be taken off your credit report after 7years of its last active date (this is either when it was put on, or when you last paid it).

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First answer by Kravitze. Last edit by Kravitze. Contributor trust: 1 [recommend contributor ]. Question popularity: 165 [recommend question].

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