How will this effect my credit score?
Answer:
I would assume the judgement was denied since they had already used the repo'd vehicle as collateral to satisfy the loan. However, the fact that the car was repo'd can and will stay on your reports for up to 7 years from date of first delinquency. The negative mark should be coming off soon from your reports anyways, check each individual report (Experian, Equifax, and TransUnion) to see when they have noted the negative will be deleted due to age.
It will likely show the repossession but no judgement. So not good and not horrible.
I am not sure. The collection will likely still be there.
Your payment history is about 35% of your fico score.
negative items can hurt your credit score.
The repossession still counts as a negative, but you should have no judgement against you or on the report itself.
30% of your fico score is what you owe on your account(s)
so actually that could hurt you in the lowering your score. Check your credit online at www.annualcreditreport.com
The repossession should come of your report after 7 years. It sounds like that should be up soon. The collection account has the same time limit as the repossession.
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