@NikJ4 wrote:
Ok, so after a crapload of issues that were beyond our control or actual fault, we are stuck with a redeemed repo. It was the last payment and we paid it off in full to get it back. Well now it shows repo. Once it updates that it is paid, how will it read on our credit report? Also, how long before we can improve our chances on getting another vehicle at a later date seeing how this one is old and may only give us 6 more good months?
Down and dirty:
1- Repo is paid keep the paperwork and follow i ton yo credit report to ensure it reports that way.
2- You FICO may improve over time in six months to help you but....
3- Since you are not making a payment once paid, you need to keep making a payment to yourself to secure 400 a month or so so that if you can get a year out of your car you have a respectable down payment to cover for the poor auto history.
