â A posting in the inventory management system that is made if a material. can no longer be used. This occurs, for example, if a material has deteriorated in. quality or becomes obsolete due to having been kept in storage for too long.
Report Abuse. Repossession, whether voluntary or involuntary, will show up on your credit report for seven years. Any money owed, if not paid, could also show up on your credit report as a charge off.This could seriously affect your ability to apply for any type of credit.hdhayes60 Â· 7 years ago.epossession, whether voluntary or involuntary, will show up on your credit report for seven years. Any money owed, if not paid, could also show up on your credit report as a charge off. This could seriously affect your ability to apply for any type of credit. hdhayes60 Â· 7 years ago.
At that point, you STILL owe that remaining balance. And that credit report time doesn't start until AFTER you pay that remainder off, with interest. So, if it takes you four years to pay it off, you still have that repo on your record for another 5-7 years. It can make life miserable. No such thing as a voluntary repossesion, just because you gave the guy the keys means nothing. It stays on your credit report for a while unless you dispute it and have it removed. It stays on for 7 years. Usually 10 years if the lender posts it to your credit record.