How a Repossession Impacts Your Credit
A Repossession can be a devastating experience for a consumer. Although any type of property can be "repossessed", most repossessions (or "Repos") occur when a bank takes possession of an automobile that was the subject of a lease or purchase money agreement. This not only causes extreme hardship, but it can also have a long-lasting negative impact on your credit history.
A Repossession is usually reported to the credit bureaus and can stay on your credit record for up to seven years. A negative mark like this will not only lower your overall credit score, but could stand in the way of getting any future financing for a car or home loan.
It seems next to impossible to wait seven years before getting a car or home loan. Fortunately there is a way out. There are solutions for you to remove a Repossession from your credit history, which in turn improves your credit score. For example, federal laws allow you to dispute items which are inaccurate, out of date, or unverifiable.
How the Lexington Law Firm Deleted an Auto Repossession
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I initially thought that I could tackle my bad credit problems myself, but I soon realized that dealing with the credit bureaus was more difficult than I anticipated. To complicate matters, I had numerous collection agencies reporting inaccuracies on my credit. I did not want to have credit problems forever so I contacted Lexington Law Firm and they immediately began repairing my credit history.
I really benefited from their expertise as they worked through my credit problems with ease. It was so exciting to receive letters showing that bad credit items were removed from my credit report. After Lexington Law's hard work, my credit score jumped from 588 to 729.
Below is how the Repo appeared on my Credit before It was Erased:
Auto Repo on my Credit Report 
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Here is the Deletion Letter after my Credit was Fixed:
Letter Stating that the Repo was Erased From my Credit Report 
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My Credit Score was Above Average with the Repossession
My credit score improved once Lexington Law Erased the inaccurate and unverifiable negative items from my credit history. In just a few short months my credit score went from 588 to 729! Lexington Law deleted other types of negative credit including several charge offs, and collections.
Here is a chart which shows the improvement to my credit score:
Credit Score Chart  |
I would recommend the Lexington Law Firm to anyone struggling with bad credit. They have experience repairing credit reports which include foreclosure, bankruptcy, judgments, collections, charge offs, and more.
Have Lexington Law Help Fix Your Credit Today!