Credit- auto repossession vs repossession and reclaim? If you have a vehicle repossessed, what is the difference to your

If you have a vehicle repossessed, what is the difference to your credit if it is repossessed and sold at auction vs. repossessed and reclaimed?

Answers: Either instrument, your credit will look and smell like sanitation.

You are splitting hair over very adverse entries on your credit report. Both are equally adjectives to your credit health.

By the time your vehicle is repossessed, you have missed a series of payments. These missed payments are in general on your credit report, so you have already done the MOST spoil to your FICO score.

The simply benefit you get through reclamation is that YOU gain to retain what little "owner equity" you have surrounded by the vehicle and you get to drive that same ole' aware vehicle.

Again, the DAMAGE is already done!

In the credit game, the objective is to do WHATEVER it takes to AVOID repossession. And by WHATEVER I don't anticipate hiding the vehicle in unsavory and unusual places to avoid detection.

Instead, when you can't engineer your car sum in full, you obligation to call your creditor's promptly to arrange a TEMPORARY workout agreement.

Non-payment is NOT an option.

Nikki It's your report?
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