 TITLE: Derogatory Marks in Credit Reports Slow Amid Pandemic CONTENT: Average Number of Repossessions Is Down 2%\n------------------------------------------\nSince the pandemic began, vehicle repossessions have declined by 2%, according to Experian data. The average number of consumer repossessions shrank by the same amount (2%) during the same period in 2019. This stability in the face of an economic downturn could be due to economic stimulus helping consumers keep up with their auto loans, creditors pausing their repossession efforts, state moratoriums placed on vehicle repossession or other factors.\nAlong with repossessions decreasing during this time, overall auto loan delinquency has gone down since the onset of the pandemic. Consumers have reduced their average number of auto loan accounts ever 30 to 59 days delinquent by 1.9%.\nA repossession occurs after a consumer goes into default and a lender reclaims the vehicle to recoup outstanding debt. Repossessions are considered derogatory marks, and remain in a credit report for seven years. END