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check the SOL in your state. Usually 7-10 yrs. but the judgments get renewed so it goes on and on like an Energizer bunny...

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โˆ™ 2011-09-12 22:19:28
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Q: If you still owe money on a car after a repossession is there a time limit for how long the loan company has to collect it?
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Related questions

Can a payment be made during a repossession?

No. They're not there to collect money, they are there to reposess.

Can you be threatened with repossession for having been arrested?

You being arrested has no bearing on your loan. As long as you make the payments on time there will be no repossession. The loan company does not care if you are in jail as long as they get their money.

What is needed to open a repossession company in Minnesota?

Money, Knowledge of the laws,proper state permits and ENERGY. Good Luck

What to do to after a car repossession?

nothing pay your money

How long can a company pursue you for an out standing debit?

A company can continue to collect from you indefinitely. As in, when you die, if you owe them money, they can collect from the executor of your estate, and get part of your life insurance policy. The best thing to do is to contact that company, and work out some kind of payment schedule with them, perhaps get them to work with you on lowering the interest rate, or disregarding any fees you may have accrued (ie: late fees, over-limit fees, etc)

Can a company still try to collect a debt after the company has been closed?

Yes, both where the debtor is a company that is closed and where the creditor is a closed company. Debts have to be settled unless a formal bankruptcy is the reason for closure and even here the receiver will try to collect money to pay creditors.

Can you work part time and collect Supplemental Security Income?

Yes you can as long as you don't go over the limit for money being earned.

Can a company collect money when you return the product?

Companies almost always can send the product back to the manufacturer for a refund.

What to do if you have to go to court for a vechicle repossession?

Pay the money you owe

How far behind on payments can you be before santander US can repossess your car?

Typically when it comes to car repossession, a customer has to worry about their car being taken when they have missed three payments. Sometimes repossession can be held off by just contacting the company and reassuring them they will get their money.

What is your business?

When a customer's loan or bill goes into default the company that lent the debtor the money will try to collect the debt. Most debt collectors are from the actual lender or are contractors that have purchased the debt and will try to collect the money from the debtor with interest.

What is an overdraft limit?

Overdraft limit refers to the limit to the amount of money a customer can withdraw from his account even though there is zero balance in his account. For example, large companies get this features of OD by pledging shares of their company with the bank. The company has a month's time to pay back the OD amount failing which the bank can sell the shares to recover the money.

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