Redeemed Repossession

[Wisecredit]

ok- All I have a quick question regarding redeemed repossessions. I have reviewed most of the repossession documents on this forum and I cannot locate anything that would suggest whether or not a reporting agency can list a automobile a being as a redeemed repossession for the entire loan. For example one of the CA is reporting a redeemed repossession from the date that my automobile was repossessed until the end of the loan. I am sure that his may be ok, but I am looking to see if this can be consider inaccurate reporting. Please advise or share your thoughts.

[MarvBear]

That extraneous commentary line "redeemed repossession" is usually on a narrative line of the credit file. I do not believe narrative line in the credit file has a score impact. It is indicative of the fact that the vehicle was repossessed at some point in time, and the consumer redeemed the item by coming to terms with the creditor/data furnisher. When we look at a data subscriber report version, we can usually tell approximately when the repossession occurred and if timely payment has been made since.

[CreditDespair]

I have a redeemed repossession on my CRs from Sept 2007. I made timely payments since then and paid off the car in 2010. I can't wait for it to change to a positive status this September .