 TITLE: Does Repossession Affect a Cosigner’s Credit? CONTENT: How to Rebuild Your Credit After Repossession\n---------------------------------------------\nAlthough a repossession stays on your credit report for seven years, there are steps you can take to repair your score.\n1.  Make sure all other accounts are paid on time. Payment history is the biggest factor influencing your credit scores, so set up a plan for ensuring that no other accounts are paid late. You may want to set up automatic payments with any lenders that offer it to make account management easier.\n2.  Catch up on late payments and charge-offs. If you're behind on any other bills or have accounts that are currently in collections, it can help to pay those off as quickly as possible. The goal is to keep all of your open credit cards or loans in good standing, and avoid their being sent to collections.\n3.  Monitor your credit report. Keeping a close eye on your credit report will help you identify risk factors such as high credit card debt and missed payments. Once you better understand what's in your credit, you're in a better position to take action to improve it. You can request a free copy of your credit report from the three credit bureaus (Experian, TransUnion and Equifax) through AnnualCreditReport.com. You can also get your free credit report and scores directly through Experian as well.\nYou can also enroll in Experian Boost™† , which adds certain utility, telecom and other bill payments to your credit report. Their presence on your report means they can factor into credit scores based on your Experian credit file, which may give you a lift.\nJust because you have a repossession on your file doesn't mean you have to wait seven years to improve your account. By being proactive and managing your accounts well, you can come back from default, perhaps even sooner than you think. END