What causes obesity? When you take in more calories than you burn off, you gain weight. How you eat, how active you are, and other things affect how your body uses calories and whether you gain weight. If your family members are obese, you may have inherited a tendency to gain weight. And your family also helps form your eating and lifestyle habits, which can lead to obesity. Also, our busy lives make it harder to plan and cook healthy meals.
Obviously, it would be best to catch up on the debt and keep the car. However, a repossession might be unavoidable. Itâs not the end of the world, though. The repossession will be deleted from your credit report seven years from the original delinquency date of the original auto loan. The repossession will have a negative impact on your credit report throughout the seven year period. However, the further in the past in occurred, the less negative that impact will be. You can also reduce the effect on your credit scores by making sure you manage your other credit obligations well.
Steve, the charge-off will remain on your credit report for seven years. The Fair Credit Reporting Act states that negative items will stay on your credit report for seven years from the first date of delinquency resulting in the charge-off. Typically, a debt is charged off once it is delinquent for 120 to 180 days.The original time frame for a loan -- such as five years, in the case of a car loan -- has no bearing on the length of time the delinquency will be reported in your credit file.ther actions can affect the clock in some states, so be sure you understand your state's law.To sum up, credit reporting laws pertain to how long an accurate negative item can be reported on a person's credit report, and statute of limitation laws apply to how long a debt can be legally collected using the courts.