to sue me. Can they legally sue me still? Can they put a lien on my house? i live in illinois
2006-07-28 12:08:57 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
no they can't put a lien on your house but you will have to pay the balance if there is any
or it will stay on your report for awhile as it was only last year
2006-07-28 18:28:18 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Generally, car loans are considered a written contract, and the SOL is much longer then "open" or revolving loans. In this case your SOL is 10 years, so don't go looking for help by hiding behind it.
2006-07-28 20:26:56 · answer #2 · answered by Anonymous · 0⤊ 0⤋
They will sell it on auction, and the remander of the balance will be your responsibility. The bank may offer you a chance to make payments for the remaining amount, or they will hand it over to a collection agency, who then will give you an offer and you have to pay them. SOL or statute of limitations , I'm assuming you're refering to, will not run out. They will take you to court if you don't pay.
2006-07-28 19:13:03 · answer #3 · answered by Jason N 2 · 0⤊ 0⤋
Did you not see my answer to the repo q that you asked 21 hours ago?
2006-07-28 20:45:29 · answer #4 · answered by echo 7 · 0⤊ 0⤋
the previous guy was right, they WILL take you to court, and will win, most likey they will attemp to garnish your wages... get a loan and pay the differance... and next time dont buy it if you dont have the money... its called SAVING.
2006-07-28 19:17:29 · answer #5 · answered by BenHey 2 · 0⤊ 0⤋
Go here
http://www.debt-consolidation-credit-repair-service.com/forums/index.php
All the help you need is right there for you. Read and you may be happy.
2006-07-28 19:15:48 · answer #6 · answered by Anonymous · 0⤊ 0⤋