Mar
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What is the statute of limitations for auto repossession?What happens after 7yrs and it off the credit report?
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After 8 years and a repo is removed from you credit report. Can another company try to collect? What is the statute of limitations on this matter?
It never went to court. No judgement.
I don’t have the car. It was repoed 8 yrs ago.
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3 Comments
March 19th, 2009 at 4:39 pm
NO! ABSOLUTELY NOT! I had a repo in 2002. After only 4 years, I filed a dispute with all 3 credit bureaus and the repo was removed. If it has been more than 7 years since your repo, the file should have been burned and lost forever. If there’s a different company trying to collect on it, that’s a great harassment suit. Anytime you get any type of correspodence from the company, take a copy of the letter, YOU keep the original, and send a letter a back them stating your ground. They cannot collect and it is harrasment.
March 23rd, 2009 at 1:50 am
Was the repo the result of a court judgement?
This type of loan is a “written” contract and most states have a longer statute of limitations. If it went to court, you can toss the SOL out because they can continue to collect for a very long time. Here in Michigan they have 10 years, but they can file a motion to renew and extend it for another 10 years….over and over. Other states only allow 3 renewals.
March 25th, 2009 at 3:21 pm
Hoping your taking care of the car, I’m not familiar with the repo requirements in your area however do know a bit about title work and the title on that car will not be clean. Meaning you are stuck with it for a long time to come, no resale or trade in unless you find someone who doesn’t care about that sort of thing