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Dragon2017

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how long does it take to remove or bury a new car repo. we cosigned a loan for our son, he defaulted
new car purchased in 2011, repo'd in 2013. i cosigned the loan for my son. the repo is affecting my approval for a loan now.

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It will take some time for the damage to diminish. This will remain on your credit report for several years to come but as time goes by, the damage won't be as bad. You will need to figure out what date the last payment was made on the account. I would assume some time in 2012 or 2013 if it was repo'd in 13. The fall off date would be seven years from the DOFD (date of first delinquency that led to repo). 2019 or 2020 should be the fall off time. You can always contact the credit bureaus and ask when the account is slated to be removed then you know for sure. The things that you can do now are to do some reading on "pay for delete agreements" I highly doubt that this would work for this situation, but it is something you can read about. In addition, look for other ways that you can improve your credit now, there are usually ways that are overlooked by many. It all takes a lot of reading to figure all of this out, so that is where you should start. Also, if you are having trouble getting a loan now, maybe look for a more lenient lender, rates will probably be higher, but sometimes you have to do what you have to do.

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Never Co-Sign, CoSign

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The above Post should be very Liked Post,  This is why People should NEVER EVER CO-SIGN ANY Loan for Anyone. 

Never Co-Sign for your kids,  Grandkids, co-workers, friends or ANYONE!   Ever!

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