7 year clock and repossessions

Discussion in 'Credit Talk' started by drchriscat, Aug 15, 2001.

  1. drchriscat

    drchriscat Member

    Does anyone know when the 7 year clock begins for a repossessed auto? Is it the date I stopped paying, the date the auto was repo'ed or is it the date the auto was sold at auction? Any help will be greatly appreciated.
  2. Crdt Dfnse

    Crdt Dfnse Well-Known Member

    The date of last account activity (payment or promise), when the account first went into default, plus 180 days.

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