What happens to your credit if you voluntarily have your vehicle repossessed?

In: Repossession, Personal Finance

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If the vehicle is sold for enough to cover the loan maybe not much. but lending gencies dont have time or manpower to wait long. You can still be responsible for any balance between the loan payoff and the selling price. and anytime you dont pay any bill, you damage your credit and everyone looks at your credit report, prospective employers, landlords, it can be really bad

First answer by Pmac. Last edit by Pmac. Contributor trust: 108 [recommend contributor]. Question popularity: 58 [recommend question]

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