volintary repotion on a vehicle

[humps4life]

how will a valuntary repotion on a vehicle effect my chance to buy a home within a year?

[xrayspecs]

"Valuntary repotion"...?? do you mean voluntary reposession ? If you went to court and the court made an order for reposession then it may well effect your credit rating. The credit company that financed the car may have sent your details to a credit reference agency as a defaulter. this also may effect your status. You can obtain a copy of your credit rating (google credit scoring) to see how you stand. I suspect the only way you will really know is to apply for a mortgage.

[Oneeyedvic]

Do you mean 'voluntary reposession' - in that you handed the vehicle back to the finance ompany as you could not afford the vehicle - in which case, so long as you maintained your monthly payments on tim, it should not affect you.

Or do you mean voluntary termination - where you terminated a hire purchase agreement after paying half the amount outstanding? Again this should not affect you.

The only way this will effect you is if you were late on any payments to the finance company.

try going to www.experian.co.uk and www.equifax.co.uk and getting a copy of your credit report. The statutory report only costs �2.00 (each) and is a wise investmenet