Q&A with John: The Impact of Repo on Your Credit Score

John Ulzheimer
John Ulzheimer

ByJohn Ulzheimer

Question: How long does a repossession or foreclosure stay on your credit report after being paid off?

Fresno, California

Answer: Hi Angie, paid or unpaid, the statute of limitations is the same. They will remain on your credit reports for 7 years from the date they went delinquent. It's actually in your favor to do it that way because the 7-year clock doesn't reset once you've paid them. As you can imagine that wouldn't be much of an incentive to pay them if you had to suffer 7 years from the date paid.