How long does a property repossession stay against my credit rating? I have been told 4 5 and 6 years and am unsure are you able to confirm the correct timespan so that I can ask a main highstreet Building Society for a mortgage?

-- Ann Russell (karenn81@hotmail.com), January 05, 2002

Answers

Normally bad credit affects your credit rating with the reference agencies for six years.

-- Anne David (annemariedavid@blueyonder.co.uk), January 05, 2002.

A repossession will remain on record for 12 years actually - not on your credit file (that is 6 years as the previous poster said) but on a separate record consulted by Lenders. It contains details of all repo's and the dates and whether they were ever paid off. As far as I know, voluntary repo's miss[ed] the list for some reason, but if you are on it the Lender will find out when they do their search for your history.

-- Too scared to say (iwasduped@yahoo.com), January 05, 2002.