Las Vegas, Nevada, United States of America (Free-Press-Release.com) April 12, 2013 -- Vivix Credit Solutions specializes in Repossession Removal and Las Vegas Credit Repair services.
Vivix Credit Solutions is a licensed and bonded credit service organization that has successfully assisted clients with credit repair and correcting or removing repossessions that contain inaccurate, questionable, and unverifiable information reported to the credit bureaus. Bad Credit We Fix it Fast!
Although the credit bureaus are required to follow reasonable procedures to ensure that the information they report is accurate, mistakes or errors can and will occur and may affect your credit score.
Repossession is generally used to refer to a financial institution taking back an object that was either used as collateral or rented or leased in a transaction. Repossession is a type of action in which the party having right of ownership of the property in question takes the property back from the party having right of possession without invoking court proceedings. The property is then sold on by either the financial institution or 3rd party sellers. This is normally referred to as an “involuntary repossession”.
A voluntary repossession occurs when the party who has the right of possession (debtor) voluntarily returns the collateral or rented equipment back to the party who has the right of ownership (creditor). Both types of repossessions can be reported to the credit bureaus. Whether a repossession is voluntary or involuntary, the account will still be considered a negative notation on a credit report. One type of repossession is no better than the other.
The act of repossessing the collateral does not necessarily satisfy the debt owed. In many cases, the collateral sold does not pay off the loan on the collateral. This leaves what is called a deficiency balance on the loan and this deficiency balance will still be owed by the debtor. The creditor can then pursue the collection of this deficiency balance through a collection agency or a law suit. The creditor will also list this deficiency balance on the consumer’s credit file.
A repossession can negatively impact your credit score by up to 100 points, depending on your overall credit history. These types of notations can remain on your credit report for up to 7 years.
Vivix Credit Solutions in Las Vegas will perform a free consultation to review your credit report with you, determine the best credit repair program to meet your needs, provide you with pricing, and answer any questions that you may have about your credit, repossession removal, and credit repair services.
Vivix Credit Solutions will also show you proof of the hundreds of Las Vegas clients who have received our credit repair services and will also show you proof of repossession removals. Bad Credit We Fix it Fast!
If you have a repossession that is more than 7 years old and it has not been removed from your credit report, please contact our office for a free consultation with one of our Credit Experts to discuss how to remove the repossession from your credit report.
Vivix Credit Solutions can also assist you with:
• Late Payment Removal
• Collection Removal
• Charge-off Removal
• Foreclosure Removal
• Judgment Removal
• Bankruptcy Removal
• Tax Lien Removal
• Inquiry Removal
• ID Theft Correction
• Credit Score
Note: According to industry research 70% of all credit reports have more than three errors in the consumer’s credit file. Consumer Credit File Rights under Federal and State Law allows you to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any “credit repair” company or “credit repair” organization has the right to have accurate, current, and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your report only if it is over 7 years old. Bankruptcy information can be reported for 10 years.
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