does anyone know that a car repossesed 7 yrs ago, if u r still liable for that debt in the state of ny..?

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does anyone know that a car repossesed 7 yrs ago, if u r still liable for that debt in the state of ny..?

2007-03-02 11:19:38 · 4 answers · asked by Nurse R 1 in Business & Finance ➔ Credit

4 answers

After seven years, it should 'fall off' your credit report. As near as I can tell, the statute of limitations in NY is 6 years. This DOES NOT mean you are no longer liable for the debt. It means you can no longer be sued to collect the debt.

2007-03-02 13:24:00 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋

having a car repossesed is worst than going bankrupt good luck

2007-03-02 11:24:26 · answer #2 · answered by david j k 2 · 0⤊ 0⤋

you can dispute it on your credit report, usually after 7 years they will remove it.

2007-03-02 11:29:08 · answer #3 · answered by Laurajean 2 · 0⤊ 0⤋

I DONT THINK AFTER 7 YEARS YOU ARE RESPONSIBLE

2007-03-02 11:25:07 · answer #4 · answered by pittbull mommy 1 · 0⤊ 1⤋