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Question

Asked 10/29/2008

Auto repossession laws

What can an collection legally do to collect on a repossession that is more then 4 years old and is there an statue of limitation on repossessions?

 
 
 
 
Answers

Answer 1/5 - Submitted 10/29/2008

They can garnish wages and stuff like that , but dont make them mad , they may tire of you after this long but they can collect after 20 years a debt never goes bad from time theres no statue of limitation on debt

 
 

Answer 2/5 - Submitted 8/6/2009

I bought two trucks from ford motor credit,first 2001 paid it off and got a new 2004, paid 3 yrs on it, and they rewrote contract, this a baloon payment i am paying, i became dissabled completely in 2007, and can't even work part time, i got behind two months, called ford and asked for a rewrite to lower my payments from 385 mo to 285 mo, by the way i just had major surgery asn i still have stiches in, they said no and came in the middle of the night last nite and took the truck, no paper work that told me they were going to repo what can i do

 
 

Answer 3/5 - Submitted 8/6/2009

The loan goes into default after that if not paid they will garnish your wages and you yearly tax refunds and stimulis checks until the debt is paid off.

 
 

Answer 4/5 - Submitted 9/25/2009

If you were not behind on any payments late sometimes because you are not working but they repoed the vehicle what can be done?

 
 

Answer 5/5 - Submitted 11/14/2009

Is there a statute of limitations on repossesing an ATV after I've filed bankrupcy?

 
 
 
 
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