Is it a valid fact list to show a repossesion for a coup�� I am making payments on and am still driving? Missed one.yes one payment in 2004, and also insurance lapsed due

Missed one.yes one payment in 2004, and also insurance lapsed due to circumstances beyond my control..Anyway, they picked my motor up ( a local finance company)...I paid departed due and showed proof of insurance, paid the past due, and get my car back contained by a week.It still shows up on my credit as a voluntary reposession even though I haven't missed a payment since..Is this accurate? Legal? does it look any better or worse than if I had tolerate them keep it? Do laws come and go by state? I am in SC. Thanks

Answer:
Contact your lender. They're the ones who report the status of your car loan on your credit bureaus. Send them a certified note explaining what happened and ask them to change the opening your loan is being reported. Give them a deadline to make the conversion and request that they send you a confirmation by return mail. If they do not embezzle care of it, send your documents to your state Attorney Genereal.

Keep contained by mind that it can take 4-5 months for your credit report to be updated. Some banks report every month... other smaller ones singular report quarterly. due to the cost of reporting.

You may want to contact the credit bureau affair board and tell them of this problem, and what you did to fix your problem. other wise it will be on your credit rating for the rest of your vivacity..

It is sad to say that your credit rating can sit beside you for a long time. I am not sure where you are located but here in New Zealand it take 5 years to clear your history.

I missed a payment 4 years ago on some furniture and it still shows now even though I own paid the whole entity off. It differs from country to country and state to state but I would call them and ask them how long it shows on your diary and if there is anything you can do about it.

In adjectives if you are looking finance or borrowing it is worth bringing it up first before they turn out and see it. That way you get to explain the situation and they can see your side of the story.

Good Luck!