Repossession Credit Scores: What You Need to Know

有担保3d之家首页的严酷事实之一是,如果您不付款,则可以收回您的资产。用FTC的话来说,“your consumer rights may be limited” if you miss your monthly payments, and when that happens, both your financial situation and your bank balance will take a hit.

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在本指南中,我们将研究当您拖欠汽车付款时会发生什么,以及对汽车造成的损害 your credit score.

What is a Car Repossession?

汽车3d之家首页是仅出于购买汽车而获得的3d之家首页。贷方负担汽车的费用,您得到想要的车辆,作为回报,您每月支付固定的费用,直到还清3d之家首页余额为止。

If you fail to make to make a payment or you’re late, the lender may assume possession of your car and sell it to offset the losses. At the same time, they will report your missed and late payments to the main credit bureaus, and your credit score will take a hit. What’s more, if the sale is not enough to cover the remainder of the debt, you may be asked to pay the residual balance.

所有权3d之家首页适用相同的程序,您的汽车将用作3d之家首页的抵押品,但实际上并不是3d之家首页的目的。

To avoid repossession, you need to make your car payments on time every month. If you are late or make a partial payment, you may incur penalties and it’s possible that your credit score will suffer as well. If you continue to delay payment, the lender will seek to cover their costs as quickly and painlessly as possible.

How a Repossession Can Impact Your Credit Score

收回汽车会以多种方式影响您的信用记录和信用评分。首先,所有错过的和迟交的汽车付款将报告给征信机构,并将保留在您的帐户中长达7年。他们还会降低您的信用评分。 

其次,如果您的汽车被拒收,但您的信用评分可能会损失多达100点,这大大降低了将来被信用卡,3d之家首页或抵押3d之家首页接受的机会。 

And that’s not the end of it. If you have had your car for less than a couple of years, there’s a good chance the sale price will be much less than the loan balance. Car repossession doesn’t wipe the slate clean and could still leave you with a sizable issue. If you have a $10,000 balance and the car is sold for $5,000, you will owe $5,000 on the loan and the lender may also hit you with towing charges.

Don’t assume that the car is worth more than the value of the loan and that everything will be okay. The lender isn’t selling it direct; they won’t get the best price. Repossessed vehicles are sold cheaply, often for much less than their value, and in most cases, a balance remains. 

放款人可能会对这种余额感到宽容,因为这种余额并不安全,因此其选择受到限制。但是,他们也可以提出判决或将其出售给收款公司,这时您的问题会增加,信用评分甚至会进一步下降。

How Does a Repo Take Place?

If you have a substantial credit card debt and miss a payment, your creditor will typically take it easy on you. They can’t legally report the missed payment until at least 30-days have passed and most creditors won’t sell the account to a collection agency until it is at least 180-days overdue.

This leads many borrowers into a false sense of security, believing that an auto loan lender will be just as forgiving. But this is simply not true. Some lenders will repo your car just 90-days after your last payment, others will do it after 60 days. They don’t make as many allowances because they don’t need to—they can simply seize your asset, get most of the money back, and then chase the rest as needed.

大部分收回行动都发生得很快,几乎没有警告。贷方会提前与您联系,并要求您偿还欠款,但实际回购流程无法像您在电视上看到的那样有效。 

They’re not allowed to break down your door or threaten you; they’re not allowed to use force. And, most of the time, they don’t need to. If they see your car, they will load it onto their truck and disappear. They’re so used to this process that they can typically do it in less than 60-seconds.

不要紧,无论你是在家中还是在工作中,你刚刚失去了你的旅程。

What Can You Do Before a Repo Hits Your Credit Score?

幸运的是,有一些方法可以避免回购过程并避免损坏。您只需要迅速采取行动,就不必像许多借款人一样将头埋在沙子里。

Request a Deferment

An auto loan lender won’t waste as much time as a creditor, simply because they don’t need to. However, they still understand that they won’t get top dollar for the car and are generally happy to make a few allowances if it means you have more chance of meeting your payments.

如果您感觉自己的财务状况正在下降,请与您的贷方联系并请求延期。这应该尽快完成,最好在您未付款之前。

延期会给您带来一些额外的时间,使您可以休假一两个月,并将这些款项添加到学期末。 FTC建议您以书面形式达成任何协议,以防万一他们信守诺言。

Refinance

避免收回汽车的最好方法之一是为您的3d之家首页再融资并获得更优惠的条件。余额可能会增加,您可能会发现自己从长期来看会支付更多的利息,但是从短期来看, smaller monthly payments 与之抗衡,这使得3d之家首页更易于管理。

为此,您将需要一个良好的信用评分(尽管有一些不良的信用3d之家首页人),但它可以使您调整有利于您的条款,并有可能改善您的信用状况。

Sell the Car Yourself

绝望的时代要求采取绝望的措施;如果您即将面临收楼,则应考虑自己出售汽车。您可能会得到比贷方更多的收益,并且可以用它来清除余额。 

在出售之前,请计算剩余的数量,并确保销售能够支付。如果没有,您将需要自己寻找额外的资金,最好不要获得额外的债务。询问朋友或家人是否可以帮助您。

How Long a Repo Can Affect Your Credit Score

收回所造成的损害可以保留在您的信用评分上达7年之久,从而造成一些财务困难。但是,随着时间的流逝,损坏程度会减少,并且在三到四年内,这种损坏最多可以忽略不计。

贬损标记在您的信用评分消失之前很长一段时间就不再对您的信用评分产生影响,延迟付款和收回也是如此。

不过,这并不意味着您应该掉以轻心。如果您每个月都无法满足您的付款,并且不与他们合作寻找解决方案,那么放款人可能会给您带来很多麻烦。

What About Voluntary Repossession?

If you’re missing payments because you’ve lost your job or suffered a major change in your financial circumstances, it may be time to consider voluntary repossession, in which case there are no missed payments and you don’t need to worry about repo men knocking on your door or coming to your workplace.

With voluntary repossession, the borrower contacts the lender, informs them they can no longer afford the payments, and arranges a time and a place to return the car. However, while this is a better option, it can do similar damage to the borrower’s credit score as a voluntary repossession, like a traditional repossession, is still a defaulted loan.

Missed payments aside, the only difference concerns how the repossession shows on the borrower’s credit report. Voluntary repossession will look better to a creditor who manually scans the report, but the majority of lenders run automatic checks and won’t notice a difference.

Summary: Act Quickly


如果您有学生3d之家首页,信用卡和其他无抵押债务,则回购可能会减少您获得3d之家首页的机会。 successful debt payoff 并有可能阻止您获得抵押3d之家首页。但这不是世界末日。您可以延期,再融资或恢复3d之家首页,即使发生最坏的情况,在解决财务困境后也可能只需要一年左右的时间就可以恢复正常。