Need Help

[Anonymous]

I had a car loan back in 2003.  Vehicle was repossesed in May 2007.  I paid the vehicle off and got my car back.  It's showing in my CR as "repossesion after payment" Right now I'm looking for a new car to purchase but I'm afraid to apply because of this repossesion in my CR.

2 questions to ask,

1) The last date of activity is May 2007, when will this drop from my CR? (I'm in NY)

2) Do you think I can get approved for a car loan even though the repossesion after payment is in my CR?   (The baddie will be 3 years old next month)

[cdtotten]

The most crucial date is the date of first delinquency, which is the month that you first missed a payment that led to the repo in the first place. Take this date and you can add between 7-7.5 years to determine when it will fall off.

I would try to work with a credit union to get a new car loan. You will have your best luck with them rather than a major bank.

[LIGHTNIN]

This statement "repossesion after payment"  doesn't make sense,repo happen before you totally paid for  the car.

Since you started paying on the car again, i dont know when it will fall off your CR's.

I would suggest pulling your Free CR's to find out what date of removal is listed. For the Free CR's you can use the link below, or

go to annualcreditreport.com You can pull Free CR's every 12mos from the big 3 CRA's.

The date of removal will be on the TU and EX  CR's.