Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.

Sign in to follow this  

How do I remove any information on my credit report pertaining to Auto-Repo and Charge Off?

The last post in this topic was posted 2158 days ago. 


We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

I'm currently delinquent on my Auto-loan with M&T Bank and currently is out for reposession. I just spoke to the manager and looking to do a voluntary Repo of the vehicle. I couldn't get exact information on the Credit Board regaridng this, but below are my questions:


1. I understand this stays on my credit for 7 years just like any other bad-credit history that could be bumped off. Is it the same with the Vehicle Repo? Can I bump this from my report just like any other credit pulls?

2. What are the other consequences of a Voluntary Repo?




Share this post

Link to post
Share on other sites

Bumpage is for inquiries.


1. You have the right to have inaccurate information removed from your reports. If the information is accurate, plan on it staying for 7-ish years.


2. There is really no difference between a voluntary and nonvoluntary repo other than you have some warning and can get your stuff out of the car before they come get it. it will not show any different on your credit and legally there is no difference. You may want to see if you can work out some settlement with the bank before they take the car. Once they do they'll auction it off for cheap and you'll still be on the hook for the difference. (in most states)


Here is what I did years ago, and I'm not recommending this, just telling a story, I hid a car in a friend's garage for almost a year while the repo guys tried to find it. They went to my house, my inlaws house 2 states away, etc etc etc. Couldn't find it. Finally the finance company sued me. I negotiated a settlement where they dismissed the suit and provided me with a release from all past and future liability in exchange for the car and $500. Months later when it hit my credit as a repo and chargeoff I was able to use the settlement agreement to change it into a paid in full account.

Share this post

Link to post
Share on other sites

You should do what ever you can to prevent a repo. If you can't get caught up then you should talk to the creditor to see if they will agree to letting you sell the car yourself ASAP to reduce the amount of the deficiency. They will sell it for a LOT less at auction. You selling the car saves them time and storage hassle so they may be willing to do that. Might work if you can offer some type of payment while trying to sell the car. You'll still be stuck with late payments on your reports but thats much better than a repo. They may even work with you on that. Be proactive!!!

Share this post

Link to post
Share on other sites

The last post in this topic was posted 2158 days ago. 


We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Similar Content

    • By AHGoodwin
      Just called to get paid copies mailed. The other two went fine, asked for payment and gave confirmation number. Trans Union just said it was "processed" and I'll get it in bla bla business days. I got free reports on 12/25, are they just sending me that? I tried to call to talk to a rep, but not open again till 8:30 monday.
    • By Mister305
      Hello everyone. Happy Holidays. I received an invitation to apply for the Chase Slate card. Applied and received a decline. The decline is based on my TU, per the decline letter. I had no baddies, until Ocwen started reporting a mortgage that I lost in 2008, and stating that I was late in 2013, but now its current. I don't know if I should call chase and if i do, I don't know what to say. any advice?
      One or more accounts are not paid as agreed
      Length of time since oldest credit card was opened is too short
      Length of time since newest account was opened is too short
      Too many accounts opened in the past 12 months.
    • By john416
      Sorry, another newbie question, but didn't get any clarity after searching.
      I've got a MyFico alert for a credit card account, saying "Account Is Deemed As Uncollectible By The Creditor And Written Off As "Bad Debt" Or "Loss".
      My credit score actualy rose 1 point as a result of that (LOL). So does this mean the OC completely wrote off the debt as a loss for tax purposes, and I'm off the hook, or they still may sell the account to a CA?
    • By MJPEREZ77
      Hope Everyone is having a great day and week! I need help with the following: I had an account which I disputed and requested it be corrected (was reporting incorrectly). Account was around 10 years old (student loan) and Paid As Agreed and Closed. Instead of correctly reporting it the creditor completely removed it from all 3 bureaus. I am wondering if I should request that it be correctly reported or let "lying dogs" be. Would it factor into my credit scores substantially (I.e boost my scores) as I need every point I can get.

  • Member Statistics

    • Total Members
    • Most Online

    Newest Member

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
  • Create New...

Important Information