Can a company still report repossessed car after 7 years on your credit report?

The Fair Credit Reporting Act (FCRA) generally limits the length of time that negative information can be reported on your credit report. Specifically, most negative items must be removed after 7 years from the date of first delinquency, with the exception of bankruptcies, which can remain on your report for 10 years.

Repossessions are considered a type of negative credit information, so they are subject to the 7-year reporting limit. This means that, after 7 years have passed since the date of first delinquency on the loan that led to the repossession, the repossession should no longer appear on your credit report.

However, it's important to note that there are some exceptions to the 7-year rule. For example, if you have defaulted on a federal student loan, the information can remain on your report for up to 20 years. Additionally, if you have a pending bankruptcy or other legal action related to the repossession, the information may be reported for a longer period of time.

If you believe that a repossession has been reported on your credit report for longer than 7 years, you should contact the credit reporting agency and dispute the information. You can also file a complaint with the Consumer Financial Protection Bureau (CFPB) if you believe that your rights have been violated.