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I am assuming that the repossession happened 6 1/2 yrs ago. If that is the case then more than likely a third party collection agency is trying to collect the remaining balance after the vehicle was sold at auction. You need to check the statute of limitations in your state. Example in Texas it is 7 yrs , if you made a payment of 1 cent the debt would be valid and the statute would be reset.

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โˆ™ 2015-07-16 18:30:51
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Q: If a repossession is 6 and a half years old can they still seize your assets?
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Related questions

How will a voluntary repossession affect your purchasing a car within a year from the voluntary repossession?

A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.


How long after repossession can you get a car loan?

The repossession stays on your credit report for 7 years.


How long is a repossession on your records?

7 years


You returned a car to the dealership and its still showing on your credit?

Of course it is. You voluntarily turn the car in for repossession. It will stay on your credit report for 7 years.


What does Il seize ans mean?

Il a seize ans means he is sixteen years old


What is the statute of limitation of a repossession in the state of North Carolina?

The statute of limitations for a repossession falls under the category of debt collection. The statute of limitations in the state of North Carolina for a repossession is 4 years.


If a repossession stays on your credit report seven years does that start from the date of the repo or the date of the final sale?

It stays on your credit report 7 years from the date of settlement not the date of repossession.


How can a repossession with a zero balance affect a credit score and can it be removed?

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.


How will voluntary repossession of a vehicle affect a persons credit score?

Same as a regular repo. The creditor may still put the repossession on your credit report and it would stay there for up to seven years. Notice the word "may", because it is at the creditor's discretion...


How long does a repossession in Mississippi stay on your credit report?

By federal law, 7 years from the date of repossession or sale or last payment. The state is irrelevant.


How long does a voluntary repossession affect your credit rating?

7 years.


How long does repossession show on credit report?

3-7 years


What is depreciation of fixed assets?

depreciation fixed assets means to allocate the cost of fixed assets to all those fiscal years in which assets is used for revenue generation.


Do i owe on a car repossession over 7 years old?

Yes, There is no statute of limitations on financial matters. You can probably challenge it being on your credit report. But you still owe the money.


Why is depreciation charged on fixed assets?

Depreciation is charged to fixed assets so that cost of fixed assets can be allocate to all those fiscal years in which that fixed assets is used.


How long does a voluntary repossession stay on your credit report?

For Experian, a voluntary repossession will remain on your credit report for seven years from the original delinquency date of the debt.


He is 16 years old in french?

"Il a seize ans."


How do you say is 16 years old in french?

a seize ans


What does j'ai soixante seize ans mean?

J'ai soixante seize ans literally means "I have seventy-six years" Which is like saying, "I am seventy-six years old"


Can Oklahoma garnish your wages for a repossession if you work in Texas after 10 years?

YES


Can a creditor recover any deficit that results from the voluntary repossession of a vehicle if the borrower has no assets or property?

Yes. If the borrower is employed the lender can file a lawsuit and be awarded a judgment which can be executed as a wage garnishment. Even if the borrower does not have seizable income, assets or property at the time the judgment is awarded the lender can hold the judgment. Judgments can be from 5-20 years duration and most are renewable. That means it is highly likely that at some future time the debtor will be employed or have assets or property that can be attached.


If you bought a used car and want to return it and buy a cheaper one will it ruin your credit?

What makes you think you can just return it. You can't. You bought it, you own it. Now if you are talking about doing a voluntary repossession, of course it will ruin your credit for 7 years. A repossession is a repossession, voluntary or not.


Can you get pulled over if you have a judgment for a repossession?

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.


In the state of Ca. How long is the statute of Limitations on a vehicle repossesion?

10 years, a repossession will stay on your credit for 10 years.


How do you say I am 16 years of age in French?

"J'ai seize ans"