How many points will I lose??

[Anonymous]

I have an impending auto repossession about to hit my credit report. I have nevee dealt with this before and wanted to know how many points it may affect my credit. I have been working on rebuilding so this is a huge set back especially because I was unable to get myself out of it due to the amount of the payoff. Any idea how bad this could do me??

[Anonymous]

Not enough info to guesstimate what kind of point range you would lose. But a new CO/repo will crush your score. Especially if they send to collections. This will hurt your credit for years to come. What's your current score? Accounts in good standing? Any other baddie? AAOA?

[Anonymous]

Is there some action you plan to take in the next few days, based on what you hear from people on this thread? 

If not, then I would not worry about it.  Not because the repo won't have an effect on your score, but because (a) there's nothing you can do about it (it will have whatever impact it's gonna have and your anxiety won't change that) and (b) whatever you hear from us will be very unreliable compared with the certain knowledge you can get in a week or two when it actually appears.

Ag0311 is right that we have no way of knowing.  If your current derogs consist of a few Day 30 lates, then the impact will be huge.  If you have a BK two years ago and five Day 90 lates in the laxt six months, the impact will be much smaller.  The truth is, though, even if you had a scoring expert to sit down with you and go over all three of your reports carefully, he still might be off in his guesses.  Wait and see may be the simplest thing to do.

[Anonymous]

My report is not pristine. I have actually just started the process of rebuilding my credit. My scores right now are 522 eq 522 tu and 529 ex. My student loans are currently in default on my report but I have entered into a payment agreement and they will show current in 7 months once I complete the rehab loan. I do have another car loan on there that is current and never late. And I just got an installment loan that is showing current. I also have two credit cards one card had a 60 day late currently and the other is paid never late. I am working on paying both cards to zero one is already done. I am not sure what else you may need. I have been trying not to be anxiety ridden but I cannot help it. I was finally on the right track with rebuilding and this happened. It's a long story on that for another day lol.

[Anonymous]

Based on how dirty your file already is with multiple negative information and scores currently in the low 500's, you probably won't see a huge score decrease when this next baddie shows up.  Sure your scores will go down, but it won't be remotely to the degree that they'd drop if your scores were much higher to begin with.

If I were you I'd stress out much less about the scores and simply put together a plan to start cleaning up those negative items.  I suggest hitting up the rebuilding forum to connect with others that are either in your shoes right now, or have been recently that can point you in the right direction.