Question


Dr. Lov...

My credit score is 524 and my repossesion hasnt even hit my report yet Any hope?

I loss my job and money got extra tight, my car got repoed last week, and my card balances are, but im paying them down since i don't have that pesky note anymore. I have a loan and 3 cards, but im current on the cards, and soon will be current on the loan. My repossesion will be there 7 years tho right? How can i rebuild? Meant to say my card balances are high

5 months ago - 5 answers

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by Park

5 months ago

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Other Answers

You just have to pay things and wait for it to start going back up. The repo will be on there for 7 years.

by I Love Richard KHC- 5 months ago

just because they repo'd the car doesn't mean that car loan debt goes away - they will sell the car at auction (well below actual current value) and send you a bill with lots of fees added on for the unpaid balance - that kind of thing forced me into bankruptcy years ago - you might wind up still owing almost as much as you did when you still had the car

by Doctor Deth- 5 months ago

There is hope for you. It may benefit you to enlist the help of a credit counseling company. Total Credit Care is a company that provides a structured service to be able to negotiate your credit card balances and remove erroneous information. I have some friends who have had great success with this company. Good luck!

by Mariah- 5 months ago

Dang, your FICO is gonna sink like the Titanic! Yes, the repo plus any negative accounts (overdue & collections) will be there for 7 years too. What you need to do like yesterday is get another job, even if it's not the most ideal. Some money is better than no money at all. You will be current once you've paid the outstanding amount that was missed. You need to start paying down the credit card with the highest interest rate. Whatever you do do NOT close the credit card accounts, just pay them off. Closing them will hurt your score even more. You'll like hit the lowest possible score of 300 if you do.

by Anjell- 5 months ago