If my car gets repossessed, how long until my credit will be in good standing?
I have no options left…due to the economy I am only working 3 days a week at my current job and can’t afford my car payment. If I allow my car to get repossessed how long until my credit will be good again? Also, will I ever be able to take out another loan as long as I live? Can credit be repaired?
This question is in the General Section. Responses must be helpful and on-topic.