A Car in Repo Status

I have an account on a vehicle that went into repossession and also to collections. I do not have possession of vehicle, however i would still like to pay off the account for credit purposes. (An ex-friend has taken the vehicle, that's another subject) Would it be possible to gain ownership of vehicle at this point after I pay off the collection in quick amount of time?

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May 03, 2011
Repo Car
by: DebtCollectionAnswers.com

This is a tricky one. Paying off the repossessed vehicle isn't likely to help your credit scores. However, it could prevent you from being sued for the debt. If you are going to try to resolve this, our best advice is to get any agreement in writing before you pay the debt.

We hope that helps!

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