Legal Question in Credit and Debt Law in Texas
Repo or constant late payments
Which is the worst of these two? Is it worse to have a vehicle repossessed with a $9,900.00 balance or is it worse to constantly be late on my $315.00 a month payment for the next 3 years? With both options....which one will I be able to repair my credit quickest? Thank You
Asked on 12/01/06, 6:26 am
1 Answer from Attorneys
TC Langford
Langford Law Office
Re: Repo or constant late payments
Hard to say -- but practically speaking a repo is a credit-killer, however, will be off of your credit three years sooner. On the other hand, late payments mean you still have a car to drive, and your credit will show delinquencies, but will also show that you paid off a car.
Answered on 12/04/06, 2:02 pm
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