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 what is the best credit card in the philippines?
is Citibank credit card good?
is BPI express credit card good?...


 Does checking your credit score negatively impact the score?
That is, does checking your credit score show as an "inquiry" into your rating like when a creditor checks, thus lowering the score, or no? Thanks!...


 student check card?
Can i use a student check card (visa) to order tickets to an ...


 Veteran's Admin. Collection Account on my credit report?
I recently reviewed my credit report for the first time. I've just graduated college and have always been very particular about my credit, so I was surprised to see a "1" in my ...


 Vehicle loan quote without running credit?
I am a senior in college, looking to buy about a $8000 car. Since I haven't even picked out the car yet, is there a place online where I can get a rough estimate of what interest rate & ...


 Default notice, incorrectly served????
I recently received a default notice, which I attempted to comply with, (i.e. repay the money within the 7 days).

However, my creditor would not accept my money saying the matter had been ...


 What is the best way to handle a store line of credit once you no longer use the account?
I recently made a one time purchase from a store with a 0% APR credit line in which they offered. I have paid the balance in full and never intend on using the card again. Is the best option still to ...


 unpaid bank loans and credit cards in brittain will these be reflected my credit status in scotland?
...


 I have a credit score around 635, is this a good score to get a decent auto loan?
...


 how long does it take to get your first credit score HELP PLEASE?
i had my first credit card since may or june how long does it take to get my credit score help please i need it to be at lease 700 so i can get my first apartment at least by ...


 questions about personal loans (secured or non-secured)?
with the credit i have which is the "poor or fair" standing with 601. It's more than likely i'll have to do a secured loan, but i have no savings, cds, or accounts or collateral. ...


 Is it detrimental to my credit when buying a home to have a car loan on my credit?
I'm asking for my GF. She has no car loans, just active credit cards with zero balance, a 744 credit score. She wants to know if she retains a car loan, and then goes to get a home in 3 months ...


 How do you feel about American Express Credit Cards?
all hype or.............................?...


 U.S. VISA Gift Card?
I have a Vanilla VISA gift card ($50) purchased in California and I did not realize it said "Only Valid in the United States" on it. Now I"m in Canada and I'm wondering how I can ...


 ebay help?!?
I Bought 5 pokemon cards from ebay but it sayes that i havent paied yet but i have 5 times.there is only one Item(5 that are 1)it sayed that i have sent the money in a green window but in a orenge it ...


 How to handle credit card companies in India??
This card company took all the reward points we have earned because we have cancelled the card and not using it. I have several email from them as proof. I paid the entire amount for I used except ...


 have adefault on payments even though caught up on afterwards?
can someone please tell me if still returnable as company now saying that it isn't. i would prefer to return as now a single parent and can no longer afford ...


 Question about a credit card?
I called up a credit card company whose card got sent to me with my name on it, and wanted them to activate so i recorded my verbal signature over the phone to have the card activated and called ...


 Has anyone heard of canwest credit from B.C.?
...


 credit report and child support?
if you owe child support does that affect your credit rating?...



broemma
How bad will letting a vehicle go back, hurt my credit?
                      




hydrokat
Rating
It depends on your current credit history and if its bad you need to find a point in your life to change it. If you credit is good I say don't. If it is bad then it probably doesn't matter. You need to choose a point in your life when you want to build up assets and your credit score. You need something to drive but most people pay alot of money for that need. If it goes back will it have a major impact of your future or just fix a short term problem that you will have again. When your ready to improve your credit score you need to be ready to make good decisions. Understand the importance of each decision to improve the quality of your life.
sorry I had a few but there are some things to think about here.


gogo7
Rating
It will hurt a lot. Letting it go back is a voluntary repossession and is really bad for your credit. If you can't afford the vehicle, you are better off trying to sell it on your own to get rid of it.


angela j
Rating
why let it go when you still have to pay for it??? you signed a legal binding contract,, the bank gave the money to the dealer,, the bank does not care what you did with it,, the bank WILL GET THEIR money


infoman89032
Rating
and when you want to go and try and get another loan then your out of luck or it will cost you more interest


Say What?
It would be a default and would put a bad mark on your credit report. Any time you applied for credit, and even sometimes apply for a job, they will see it on your credit report.


echo
Rating
It will not only hurt your credit, it will also hurt your pocketbook.

Repo's are generally sold for very little.
You would be responsible for the deficiency balance and repo fees For example - say you owe $10,000 on the vehicle. You let them repo it and they sell it for somewhere around $3000 or $4000.
Even if you take the vehicle in yourself, there will still be repo fees (which could easily run up to a couple thousand dollars).
If you fail to pay, they may sue you. If they sue and win, you would also be responsible for court costs and their attorney fees.

Some people end up owing much more for the repo than they would have if they had kept the vehicle or sold it and paid off the loan.

Your credit "could" have as many as 4 different negatives on it for the vehicle.
The original loan
The deficiency amount
The collector
The judgment

If you can keep it, keep it.
If you cannot afford to keep it, try to sell it. Even if you have to sell it for less than it's worth and make up the difference from your own pocket.
If you know someone that you can trust to take over the payments, you might consider that.

Before you make any decision about selling.or repo, you should speak to the loan lender first.


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