Auto repossession will not be removed after paying remaining balance

Dear Experian,

I recently had my car repossessed. Within a very short period of time I paid my remaining balance in full. I also have a statement from the creditor proving my $0 balance. Is it possible with this paid in full letter that the repossession can be removed from my credit?



Dear JMS,

You won’t be able to have the repossession removed, but your credit report should show that it has now been paid in full.

A credit report will show the history of an account, including when it was opened and closed and the most recent history of how it was repaid.

The account status should state that the car was repossessed, because it was. But the account should also show that the debt is now paid with a zero balance, accurately representing the history of the account including delinquencies that eventually led to the repossession.

Closed accounts remain seven years from the original delinquency date — the first date the account became late. So, the car loan, including reference to the repossession will be deleted at that time.

Thanks for asking.

- The “Ask Experian” team

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