Is there a statutes of limitations on vehicle loans?
816952
Bad debts are not collectible after 7 years.  7 years from the last activity on the loan, not 7 years from the beginning of the loan.\n\nIt is VERY unlikely that a lender will NOT try to collect on a bad debt.  When they do, the expenses they incur in attempting to collect (attorney fees, interest, etc.) are usually added to the amount owed.  \n\nWhy do you ask?  Thinking of ruining your future ability to borrow?
693453
More info required, before even a comment could be offered. Suggest you refer a good attorney, a.s.a.p., like maybe yesterday, so that the statuate of limitations, if applicable in your case does not come into force\n\nst/
709252
none.\n\nIf the statute of limitations is a year\n\nA crime was commited on 11/14/05\n\nThe statute is up tommorow.  Regardless of what holidays have passed.
325523
Major black mark on your credit record. It will make it hard to get another loan or you might have to get a car loan for a much higher interest rate.\n\nThere is no pro unless you are suing the company that sold you the car and even then, I would wait to see the outcome of the court case!
806600
Check the loan to see if it has a pre-payment penalty clause in it.  If it does, I'd take the extra payment and put it in an interest bearing savings account created specifically for your car loan.  After 4 or 5 years, you should be able to make payments using just your special savings account.\n\nIf your car loan doesn't have a pre-payment penalty clause, I'd just go ahead and pay additional each month towards your car loan.
693544
If they have legal claim on the car...YES. If your loan was based upon the security of your car, the bank has legal title. It might have to go to court to be resolved, but in the end, I think the justice system will give the legal title to whomever has legal claim.
1051852
The laws may difer from state to state etc...I suggest that you call Motor Vehicles and get the answer straight from the source. If anyone would know how to fix this problem legally they would. I'm sure that this has happened to someone else at some time or another.\n If that doesn't work then you are left to think up a clever way to sell it to someone else.
619957
First of all, assuming the mismanagement is an ongoing issue the statute of limitations would likely not be seen as having begun to run.  However, if this is a past issue then it might start from the date of the last action of mismanagement or it might start from the date of the realization of the mismanagement, which could be recent.  Regardless, this issue will be likely litigated in court if at all applicable.\n\nHowever, only a lawyer licensed in Illinois can advise you how the Statute of Limitations might apply in Illinois.
544365
Dear Friend,\n\nThe statute of limitations only starts to run once you know or should have known that there was a problem.  Let's say you had an operation in 2000, but only found out in 2004 that they'd botched the job.  Then your statute of limitations would start running from 2004, not 2000.\n\nHope that helps!\n\nYour Friend,\nFrancesois
141824
In the state of Ohio, the limitation ranges from 6 years for oral agreements to 15 years for written (including Promissory Note). Note that "open accounts" which are credit card debts, have had some changes as a result of the recent Bankruptcy Reform Act\n\nThe following link will give you more information about the Statute of Limitations by State
953037
Every state has their own, so research "Statute of Limitations."  You might be able to find out information on the web.  Good luck.
365213
In this case, they can.  But read my entire message...\n\nAccording to the Fair Credit Reporting Act, they can only report your debt for 7 years, starting from the DAY YOU DEFAULTED on the loan.  Many people are reporting that it begins on the date of the last transaction.  They are wrong.  Read the info in the sources below, I think it states it pretty clear.  If that's not good enough, I can send you a copy of an FTC position statement to clarify it even more.\n\nNow, many times collection agencies will purchase an account, and not really know when the default date was.  So they will simply place whatever date they want on it.  This "date bumping" is illegal, and if you can prove it you can sue them for $1000.  If you have any past bills or paperwork, examine it.  Check the reporting date on your credit report.  If it is wrong, protest it and get the whole negative report removed from your record.  \n\nThe reason they get away with this is because you don't know the law.  So they will take advantage of that to harrass you.\n\nNow, as for actually collecting the debt, check the statute of limitations for your state.  After that date, you no longer have a legal obligation to pay them.  The can continue to try and collect, but any legal action can be tossed out of court due to the expired SOL.  \n\nRead the links below for more information on this.  \n\nYou are fighting a war with creditors.  Do not fight them unarmed.  Knowledge of the law is your only weapon!  Get armed and read the links below!!!
94932
The charge off account could be sold and buyer of the account could try to collect it legally.  And they would be entitled to do this.  So it can be collected until the statute of limitations runs and this varies from as little as 4 years in some states to as long as 10 years in others. Interest can accrue this entire time even if the original creditor charged the account off.  Accounts beyond the statute of limitation are called "zombie debt" and you can challenge collection of these under the Fair Debt Collection Practices Act.
717902
Well, that all depends on whether or not the bank that repo'd the car was able to collect the total outstanding balance after selling the car. If not, you have an outstanding debt still on your credit, and it will be there indefinitely, despite what some people may tell you. Yeah, it technically will come off after 7 years, but if you ever go to get a mortgage or other large loan, they're going to see that you have that still outstanding. Good luck getting a bank to look the other way on something like that...
160151
It all depends on your driving record.....not to mention the limits you pick and your deductable, as well as whether or not you choose to have rental reimbursement, towing etc.
866440
Lawyer here and a NY lawyer--\n\nYou haven't given enough information and the way your question is phrased I'm not sure what you are asking...there is no statute of limitations applicable to debt collectors, only as to debts.  Now if you are talking about oral, written contracts, promissory notes or open accounts (and that would include a credit card revolving charge account) the statute of limitations applicable to a suit to collect the debt is six years.  \n\nThe NY statute of limitations starts to run on a credit card account from the time the debtor becomes delinquent.\n\nThe statute of limitations does not prevent the filing of suit--you can still be sued, but you raise the statute as a defense.\n\nYou mention fraud, without giving any details, so I can't say what fraud you are talking about or whether it is fraud.  However, if you were defrauded, that too would be raised as a defense to any suit against you and can also be raised as your own claim against your alleged defrauder--assuming the statute of limitations on fraud has not expired.\n\nFinally, if you are talking about debt collectors, the statute of limitations will not bar them from trying to collect the debt.  In fact, if you say the wrong thing to them, you can revive the debt and start the statute of limitations clock running again.  So my first advice is don't even talk to them--when you do they try to get to you make statements that go against your interest and they record them in their business records which are admissible as evidence in a suit against you.  \n\nThe creditor or collection agency may theoretically continue with letters and telephone calls forever (although third-party collectors are subject to the "cease and desist" provision of the Fair Debt Collection Practices Act.)\n\nBelow are a couple of links which might help you if your problem is credit card debt:
183695
Are you referring to how the Statute of Limitations looks at it?\n\nThat is a grey area of the law.  Some states are calling it Written contracts, others consider it Oral or revolving contracts.  You will need to check with you local state law to see how it's applied.