Brian, were you the co-signor on the loan??? Otherwise, NO. How could you be responsible for someone else's debt? YOU would have to sign the loan. Sounds like a collector trying to smoke ya...
YES
On ordinary bad debts no, however since wage garnishments are an act of the courts you must be talking about a 10 year old judgment, which can come back to bite debtors in the behind up to 20 years later.
They are pushing your buttons. The original company has probably written the debt off and it is possibly off of your credit report. Do not pay them one red cent, or they will be able to resurrect the debt.
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
WOW...
YES
I've had an unemployment overpayment in Iowa for nearly 10 years and have never had any of my wages garnished.
If the debtor has made no attempt to collect such bills in the three years, the courts do not recognize it as a debt.
I recvd a granishment on an employees wages- the judgement was filed 7 years ago, is this past SOL ?
A creditor cannot garnish your wages unless they file a lawsuit and obtained a judgment against you. The time deadline to file a lawsuit will vary by state.
When my car was rep'd, The finance company went to court and garnished my pay check for what I still owed on the car after they sold it at auction. This was in Kansas 10 years ago.
100% can be garnished and for as many years as it takes to repay the debt.
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
The repossession stays on your credit report for 7 years.
On ordinary bad debts no, however since wage garnishments are an act of the courts you must be talking about a 10 year old judgment, which can come back to bite debtors in the behind up to 20 years later.
7 years
They are pushing your buttons. The original company has probably written the debt off and it is possibly off of your credit report. Do not pay them one red cent, or they will be able to resurrect the debt.