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Question By
purple51129

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0 People Helped
car repo effecting credit score

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OF COURSE!!

Helpful to 7 out of 10 people

A repo is not done unless numerous payments were missed.  A repo is a bad mark on your credit score because the contract terms were not being met.

Reply by
NickWhatcom

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25 People Helped
Helpful to 2 out of 2 people

My car was repossessed without me missing a single payment.

My car sat in an impound lot for 50 hours (2 hours over the 48 maximum stated deep in the fine print of my loan agreement) while I waited for payday to get it out. The credit union seized my car and wouldn't let me recover it and the credit bureaus have been reporting non-payment repossession for years.

Reply by
martinevans67

2 Contributions
9 People Helped
Helpful to 1 out of 1 people

How about if you were lay off ? 

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