A repossession stays on a credit report for seven years from the date of the first missed payment which led to the repossession, according to the credit bureau Experian. The term "repossession" is shown as the status on the credit report until it is deleted.
Once the item is repossessed, the lender sells it in order to recoup the debt remaining, and the individual can be held responsible for any amount that is not recovered, according to Experian. The lender may then either sue for the remainder or send it to collections. The collection account also appears on the credit report for seven years from the original delinquency date.Learn More
LVNV Funding LLC is a debt collection company that purchases debt from credit grantors (like banks) and other credit owners, and then tries to recover the debt. LVNV Funding is part of Resurgent Capital Services LP, a debt collection and management group.Full Answer >
According to Made Man, it is possible to check the balance on a Vanilla Visa gift card by calling the Visa customer service number at 800-571-1376. The balance can also be checked at the Vanilla Visa website.Full Answer >
A credit card is used for making purchases that are paid for at a later date. If a transaction is approved, the card issuer pays for the transaction on behalf of the cardholder and then bills the cardholder for the amount of the purchase.Full Answer >
A non-bank financial intermediary is a financial services firm that does not accept deposits from the general public. It may offer a variety of financial services including leasing, factoring, pension funds, mutual funds and insurance plans. Some non-bank financial intermediaries are also venture capitalists.Full Answer >