How Many Points Does A Repossession Drop Your Credit Score

Updated: 15th May, 2022
Ashley Astors
Verified Collections Expert

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A repossession is going to drop your credit score between 50 to 150 points. The repo will stay on your credit report for 7 years. If you speak with the lender, in some cases they will negotiate a deal that does not include your credit being damaged. However, in the case they won't, repossessions can be removed by companies that specialize in credit repair and repo removal (like Credit Glory).

How Many Points Does A Voluntary Repossession Affect Your Credit?

A voluntary repossession will likely drop your credit score by 100 points due to late payments. Repos stay on your credit report for 7 years, severely impacts your credit score & affecting your ability to qualify for loans.

How Many Points Will My Credit Score Increase When A Repossession Is Removed?

Repossessions happen when you default on loans — and stay on your credit report for 7 years. Luckily, you may be able to remove the repo early by disputing it (with help from Credit Glory). Removing it boosts your score by roughly 100-150 points.

How Long Does A Repo Stay On Your Credit?

Repossessions stay on your credit report for 7 years. In some instances, you may be able to remove it early by disputing it. The easiest way to dispute a collection on your credit report is by working with a credit expert (like Credit Glory).

Can I Get A Car Loan After A Previous Repo?

You can, but you're likely looking at limited options for loans and high-interest rates. That's because a repossession drops your credit score roughly 100 points — severely impacting your credit and staying on your report for 7 years.

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Accurate as of March 1st, 2022

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