Removing a Repossession From Your Credit Report
To remove a repossession from your credit report, you’ll need to prove to the credit bureaus that the repossession is fraudulent, outdated, inaccurate or that predatory lending laws have been violated. Other ways to remove a repossession from credit reports is to validate all sales and lending procedures involved are free of violations.
How Long Do Repossessions Stay on My Credit Report?
A repossession can stay on your credit report for up to seven years, making it harder for you to qualify for other loans.
Repossessions have a severely negative impact on your credit and can show lenders that you may not be able to make payments on the property you purchase.