I LIVE IN ALABAMA
VEHICLE REPOSSESSED IN 2000, ACCORDING TO MY
CREDIT REPORT. DUE TO BE REMOVED OFF MY CREDIT IN AUGUST 2007. CREDITOR HAS FILED JUDGEMENT IN JANUARY 2007. IS THIS LEGAL
2007-04-02 14:58:06 · 10 answers · asked by teddybearparts 2 in Business & Finance ➔ Credit
Were you properly served? If so, and you failed to answer there isn't much you can do.
If you were not properly served, you may have an option.
You can try to have it vacated for improper service.
Unless they filed the suit before the 4 year SOL expired they have violated your rights by filing on a time barred debt.
You are past the collecting SOL and have been for quite some time
A repo voids the original contract and falls under the UCC for a 4 year SOL that started on the date they sold the vehicle creating the deficiency. (not that it matters since it falls under the UCC, but you are even past the collecting SOL in your state for written contracts)
http://www.law.cornell.edu/ucc/2/article2.htm#s2-725
Article 2 of the UCC § 2- 725
2007-04-02 15:44:01 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Most people dont realize just because something isnt going to show on your credit report doesnt mean you dont owe it. also they can update that file in your credit report and keep it on their longer as long as there is activity meaning they update the account information etc. they have a 6 year statue of limitations. to file a lawsuit. chances are they filed it before the 6 years were up and received the judgement in january 07. now they have 20 years to collect it. however most states will renew a judgement. sounds to me like these people are just going to leave it alone. GOOD LUCK
2007-04-02 18:20:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes..it's their money and they have a right to get some or all of it back....how you think it would automatically be removed is beyond me. The judgement is the only way they can keep it on the report to ruin your life....eventually they are going to find out where you work and garnish your wages...or if you own a home put a lien on it.
2007-04-02 15:07:24 · answer #3 · answered by wwpetcemetery 5 · 0⤊ 0⤋
Of course it's legal.
They waited until the last moment hoping that you would pay them, when you did not they went for the judgment.
Now they have the power to garnish your wages, attach bank accounts and file liens on any property you own to satisfy the debt that you owe.
You should have never let it go this far.
2007-04-03 03:06:05 · answer #4 · answered by ? 7 · 0⤊ 0⤋
Hi!
Probably not. I think you need to talk to a lawyer..quickly.
Do a search on debt statute of limations and find what I just found.
You will likely find what I just did..the statute clearly states 6 years. I would recommend you get the judgement overturned on that basis..the judgement is illegal.
2007-04-03 00:18:22 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Yes it's totally legal.
Don't let it happen again...check out www.daveramsey.com He'll change your whole financial life!! And help you deal with creditors, credit reports, anything.
Good luck!!
2007-04-02 15:25:43 · answer #6 · answered by Maggie M 3 · 0⤊ 1⤋
YES!!
get 2 more jobs work till you drop and do it some more untill you pay it off FAST.
a judgement is legal and you may find your wages Garnished.
visit daveramsey.com to learn what you haven't so you do not burn yourself again.
2007-04-02 15:06:46 · answer #7 · answered by Anonymous · 0⤊ 1⤋
Yes. Not only that but the judgement will be on your credit for 10yrs. Even if you pay it off.
2007-04-02 16:01:31 · answer #8 · answered by anthony b 1 · 0⤊ 1⤋
They get 7 years --- Thats probably why they did it now.
Obviously it's legal if they got a jugment.
2007-04-02 15:03:31 · answer #9 · answered by Sammy&Pete 3 · 0⤊ 0⤋
You've got to be kidding. You owe them money and you're complaining because they had to sue you to get it?
Pay what you owe.
2007-04-02 15:15:29 · answer #10 · answered by Box815 3 · 1⤊ 1⤋