Regular Contributor
Posts: 147
Registered: ‎01-06-2009

will removal of repo account hurt or help?

So i have a repo from 3 years ago that has a $0 balance and I want the repo removed but now that i think about it, will it hurt my score if it's removed since the balance is at $0? Maybe they could just mark it as closed instead of a big fat "REPO". what are your thoughts?

Lender pulled fico scores 4-11-2013
Equifax 670, Exp 673, TU 672
Posts: 662
Registered: ‎03-16-2013

Re: will removal of repo account hurt or help?

Can try
Senior Contributor
Posts: 3,930
Registered: ‎10-26-2012

Re: will removal of repo account hurt or help?

Auto Installment loans have hardly any affect on your fico score. It could change your AAoA tho. 

Frequent Contributor
Posts: 345
Registered: ‎02-14-2013

Re: will removal of repo account hurt or help?

I had 2 of them, both IIB with 0 balance, but both have been removed from my CR and I don't think it did much to my score, but much more important (to me anyway) its off my report and not reporting anymore.

EX: 619 (FICO) 3/14/14
EQ: 587 (FICO) 3/14/14
TU: 579 (FICO) 3/2/14

Goal: 700 Across the board In Garden until 4/1/16
Merrick Bank (0/500) Cap 1 Secured (0/201) Cap 1 Plat (0/300)
Established Contributor
Posts: 775
Registered: ‎03-09-2013

Re: will removal of repo account hurt or help?

It really depends on your objective. If your goal is to have a higher score, it could lower it if its one of your oldest accounts.  If your focused on a clean report, then by all means get it removed.  A 3 year old repo is most likely having a heavy impact on your score and from my experience, its easier to get them to delete a trade line like that than to change the information to report more positively.  It really would come down to what else is on your report and their ages, but personally I cant see much of a benefit of keeping a repo on there.  As others on here have said, have a clean report and scores will follow.

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