How many derogatory things does a repo appear as written out on credit report/background search?In California?
When your car is rrepossessed, does it normally show on your credit report as a whole bunch of things: Namely, a judgement, repossesion and default, and as a conviction in court, and as a debt that you still owe as well as a what else?
And can you get credit at all after this happens?
Your auto loan shows on your credit report. Since your car was repossessed, that account probably shows a series of late payments with "repossession" as its status.
If your lender took you to court to collect a deficiency balance and obtained a judgment against you, then the judgment will likely show up on your credit report within the next couple of months or so.
Yes, you may still be able to get credit, but you might not like the terms. If your lender has a judgment against you, then your paycheck may start getting up to 25% lighter in the next few months as well.
You may find some help at the link below.
Source(s):5 years ago
It can show up as many things yes. Best thing to do is get a credit report, call the company's involved and try to make arrangements to sort it out. Credit could well be tough otherwise.
Source(s)by cody b - 5 years ago
There are three potential entries:
First, your original loan. Second, if it was turned over to collections it will show up as a second account. Third, a court judgment against you, if applicable, which it sounds like it was. Even after they take back the car, you may still owe them more money, if the car was worth less than you owed against it. You are still responsible for this amount, and it will follow you until you deal with it.
Obtaining credit after this all happens is difficult, but not impossible. 35% of your score is based on making your payments on time, EVERY time. A secured credit card may not be the answer, since most of them don't report your credit (some do).
Bottom line: Before you apply for any new credit, make sure the card reports. Then pay your bills on time, every time. Expect it will take at least 6 months before your score starts moving up.