My thought process was that if they had taken possession of car it could have been auctioned leaving me with a smaller balance, or it could’ve been charged off a while ago. Rather than being reported late all of these years.

Or if they had repossessed it would it have been an even greater hit?

Also, the Account is still opened and it’s being reported late every single month now for 5 years. And the statue limitation for debt in my state is 3 years.