Repossesion reporting question

[rckstrscott]

Question:

I was successful in having a repossession removed from my credit file. It is no longer reporting on any of the top 3 CRAs.. My FICO jumped 40pts roughly on both EQ and TU.

So I am thinking about getting a auto loan again, and was wondering, will lenders see my defaulted last loan? Is there another system the check against?

Am I safe? I haven't update my scores, but they are all over 660 -- I am only concerned with if they will see the defaulted loan or not.

Thanks!

scott

[Anonymous]

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@rckstrscott wrote:

Question:

I was successful in having a repossession removed from my credit file. It is no longer reporting on any of the top 3 CRAs.. My FICO jumped 40pts roughly on both EQ and TU.

So I am thinking about getting a auto loan again, and was wondering, will lenders see my defaulted last loan? Is there another system the check against?

Am I safe? I haven't update my scores, but they are all over 660 -- I am only concerned with if they will see the defaulted loan or not.

Thanks!

scott

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1- if the loan was actually defaulted by you and is not in dispute, assuming it s under the statute reporting time, it should be on your report.

2-the only information they can "see" is the same information you can see. if it is no longer on your report it is no longer on your report.

3- A bank/institution may retain their own records and information database about your specific past relatationship/payment history with them. They may "hold a grudge" and legally I believe they can, as long as they so desire. (if someone has any information contrary to that please list it)

Thats why people who even discgarged their debts in BK find that the lender they took down for their ca rloan may or may not ever give them another loan.

[rckstrscott]

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@Anonymous wrote:

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@rckstrscott wrote:

Question:

I was successful in having a repossession removed from my credit file. It is no longer reporting on any of the top 3 CRAs.. My FICO jumped 40pts roughly on both EQ and TU.

So I am thinking about getting a auto loan again, and was wondering, will lenders see my defaulted last loan? Is there another system the check against?

Am I safe? I haven't update my scores, but they are all over 660 -- I am only concerned with if they will see the defaulted loan or not.

Thanks!

scott

---

1- if the loan was actually defaulted by you and is not in dispute, assuming it s under the statute reporting time, it should be on your report.

2-the only information they can "see" is the same information you can see. if it is no longer on your report it is no longer on your report.

3- A bank/institution may retain their own records and information database about your specific past relatationship/payment history with them. They may "hold a grudge" and legally I believe they can, as long as they so desire. (if someone has any information contrary to that please list it)

Thats why people who even discgarged their debts in BK find that the lender they took down for their ca rloan may or may not ever give them another loan.

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Yeah the loan was voluntary repo, which I settled for less than full. After about a year of GW's I was able to get it removed by the lender, it wasn't a dispute or anything, they just agreed to remove it... so based on your response, it would seem I 'should' be safe with any lender except maybe the lender who I settled with previously?

Thanks for the fast response

[Anonymous]

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@rckstrscott wrote:

 

Yeah the loan was voluntary repo, which I settled for less than full. After about a year of GW's I was able to get it removed by the lender, it wasn't a dispute or anything, they just agreed to remove it... so based on your response, it would seem I 'should' be safe with any lender except maybe the lender who I settled with previously?

Thanks for the fast response

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Yes. And yes the defaulted lender is probably not an option.

And keep all copies of the good will paperwork and correspondence since glitches do happen.