How long does it take to reestablish my credit after a repo (currently 1 1/2 years).I also have 1 chargeoff, and 2 collections. Everything else is good (3 tradelines). I have a secured Capital One (October), and hopefully want to get a small ($3000.) loan from the bank for a used car. Any help would be appreciated... Thanks! Dustin
RE: How long after reposessio If the repo stays on your report, expect 7 years till you are cleared of bad credit. Of course there are several factors that make your score, and some nice bank might grant you a break, given the bad credit statement on your report, good luck!
RE: How long after reposessio Dustin, I had a repo in Feb 97. After it occurred, I bought a used car. I also brought all other accounts up-to-date and paid everything on time, and then in late 1998 (Sept/Oct), I began working on cleaning up my credit. Due to a divorce, I had 2 chargeoffs (one from 94 and one from 96) and quite a few collections (94-96, which have all subsequently been paid - I'd definitely advise you to get all of yours paid or removed, if possible). I was able to get a couple of sub-prime cards (starting with First Premier, which I have just recently closed), and in June 1999, I got an auto loan through Household (which I'd like to refinance, but I don't think that's possible yet). Hope that helps, Cindy PC509 wrote: ------------------------------- How long does it take to reestablish my credit after a repo (currently 1 1/2 years).I also have 1 chargeoff, and 2 collections. Everything else is good (3 tradelines). I have a secured Capital One (October), and hopefully want to get a small ($3000.) loan from the bank for a used car. Any help would be appreciated... Thanks! Dustin
