2006-09-05 11:51:10 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
The statute of limitations (SOL) for a repo deficiency is 4 years. No matter what state you live in.
When a vehicle is repo'd, the original contract becomes void. Repo's fall under the UCC (9) for SOL - 4 years.
If a person was not sent "ALL" of the paperwork in a timely and legal manner, the repo deficiency becomes uncollectable after 2 years.
Paperwork would be: the intent to repo, the right to redeem and intent to sell and the deficiency notice after the sale.
2006-09-05 15:49:25 · answer #1 · answered by echo 7 · 0⤊ 0⤋
THERE IS NOT SUCH THING OF STATUE OF LIMITATIONS FOR A AUTO LOAN. YOU WILL HAVE TO PAY ALL BALANCE OWED. INT REST AND RE-PO FEES. WHEN YOU GET TAKEN TO COURT THEY WILL DEMAND ALL OF THAT MONEY WITH ATTORNEY FEES. ONCE THEY WIN YOU WILL HAVE YOUR WAGES GARNISHED, ALL OF YOUR ASSETS COMPROMISED TO COMPLIMENT THE JUDGMENT.
CALL UP THE CREDITOR AND OFFER PAYMENTS OF 20 DOLLARS A MONTH. TO AD VOID A BIG BIG PROBLEM.
2006-09-05 15:02:36 · answer #2 · answered by Todd C 1 · 0⤊ 0⤋
There is no statute of limitations anymore when it comes to crime...you need to elaborate more on your question
2006-09-05 11:53:24 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Hope this helps...
http://www.creditmanagementworld.com/legal/statutelimitations1.html
2006-09-07 09:16:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋
try here: www.findlaw.public.com and do a search
2006-09-05 11:57:42 · answer #5 · answered by Genie 3 · 0⤊ 0⤋