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How Long Does a Repo Stay on Your Credit Report?


When a lender repossesses a car, boat, motorcycle, or other item of collateral for non-payment of a loan, the action is reported to the credit bureaus. This negative event will show up on your credit report and can stay on your record for up to seven years. The repo stay will affect your ability to access credit in the future and can significantly impact your credit score.


Repossession is an extreme measure taken by creditors when they have little hope of recovering their money from borrowers who are delinquent or have defaulted on their loans. As soon as it occurs, it's reported to all three major consumer reporting agencies - Experian, TransUnion and Equifax - along with a notation that the account was closed due to repossession.




The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.



Our goal is to help you find a fresh start FASTER!


Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706








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