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الأسئلة الشائعة
How long does a repossession stay on my credit report?
A repo remains for seven years from the first missed payment. Its impact lessens after two years with good habits.
Can I remove a repossession from my credit report?
Only if inaccurate—dispute with proof; bureaus delete unverified info in 30-45 days. Accurate ones stick.
What's a deficiency balance after repossession, and how do I handle it?
It's the debt left after selling the car, averaging $5,000-$10,000. Negotiate settlement, demand validation under FDCPA.
How much does a repo hurt my credit score?
Typically 100-200 points, worse if prior issues; payment history (35%) takes the biggest hit.
Can I get a new car loan after repossession?
Yes, subprime lenders approve scores >550 with 10-20% down, often in 6 months. Build first.
Does voluntary repossession hurt less than involuntary?
Both report similarly, but voluntary may skip late payment chains, slightly milder impact.
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