need help serious replies only please?
2007-01-25 11:14:57 · 5 answers · asked by hotlady002 2 in Cars & Transportation ➔ Insurance & Registration
If there has been no activity then it is 7 years.
2007-01-25 11:20:06 · answer #1 · answered by shadouse 6 · 0⤊ 0⤋
On a debt there doesn't seem to be a limit. Under Federal Law:
TITLE 20 > CHAPTER 28 > SUBCHAPTER IV > Part F > § 1091a
§ 1091a. Statute of limitations, and State court judgments
(a) In general
(1) It is the purpose of this subsection to ensure that obligations to repay loans and grant overpayments are enforced without regard to any Federal or State statutory, regulatory, or administrative limitation on the period within which debts may be enforced.
2007-01-25 12:32:20 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
It depends upon how they acquired the right to 'go after you'
In California, if you owe a debt, the person can wait up to two years to sue you to collect.
If he (or it) wins, they get a judgement against you (and your assets) for 7 years.
As the 7 years draws to a close they can petition of a renewal for another 7 years.
(sucks doesn't it).
A short story: Years ago my father died owning a boat that I gave away. The next year, after all the paperwork on the estate was settled, the county - in its infinite wisdom, send him a bill for taxes up to the time I had given it away.
I called to explain the facts to him but they didn't care and for almost 15 years he kept getting mail telling about the judgement and how they were going to lien his assets and such..
Moral: Even dying doesn't make them go away.
If you really do owe the money, sometimes the best bet is to call them up and work out a deal. Sometimes you can get off with 50 or 60%.
good luck...
2007-01-25 15:23:33 · answer #3 · answered by ca_surveyor 7 · 0⤊ 0⤋
Yes...it's called JAIL. Do not fool around with these scum. They are the lowest form of life on the planet and they will NEVER stop until you are standing before a judge and he orders you to liquidate your assets to pay these people. You will be money ahead to hire a lawyer to negotiate a settlement with the loan company and keep them out of your life.
PS -- no statute of limitations for grand theft.
2007-01-25 12:41:15 · answer #4 · answered by Anonymous · 1⤊ 0⤋
There is a statute of limitations on almost everything. Murder is the primary exeption. You should call a local attorney's office and ask them how long it is.
2007-01-25 11:20:07 · answer #5 · answered by Anonymous · 0⤊ 0⤋