What Is the Statute of Limitations of Vehicle Loan on Credit Report?

Question

In 1995 purchased a GMC Jimmy from car lot in MI. Two weeks later vehicle was stolen from driveway. Insurance covered so much, but did not pay off loan. Now they insist I owe them $9000.00 Wich is hard for me to believe that I would have to pay for vehicle that I dont have. Anyways recently trying to buy a house, and had to pay off a few debts off credit report. Truck was on credit report,but said acct.closed. While paying other debts one company said they recently aqquired this debt, for the truck...I told them the acct. was closed per my credit report statement. they said that was'nt true. Now this has been 11 years ago since all this has started and I now live in AZ. Married with 2 kids and trying to buy my first home. Should this be off my Record by now? Or will I be haunted by this for the rest of my life? Any help appreciated...THX

Answer 1

anything over 10 years old you should be able to get removed from your credit report. i also think after this long anyone would have trouble legally collecting that debt. good luck.