Best Answer

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...

User Avatar

Wiki User

โˆ™ 2011-09-12 22:19:28
This answer is:
User Avatar

Add your answer:

Earn +5 pts
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?
Write your answer...

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

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)

What to do to after a car repossession?

nothing pay your money

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.

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.

Does the 401k contribution limit include company match contributions?

If an individual is wanting to know about 401(k) contributions and company match contributions, a great resource is the website called Accumulating Money. According to Accumulating money, there is a contribution limit, and this limit includes all funds contributed into the 401(k). This limit, for the year 2013, is 17,500 $ (USD). More detailed information is located on their website.

Can a company collect money when you return the product?

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

How do you collect owed money from someone?

how do i collect money owed to me from someone in canada

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.

What is a repossession agent?

In Canada or the United States a Repossession Agent usually works for a car company, a boat company or anything that costs a lot of money and the person who owns is is in default of their payments. These people at great risk go out on the streets, find whatever it is that they are sent to reprocess and take it back for a percentage of what the thing is that they just reprocessed is valued at.

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

Pay the money you owe

Can your car be under repossession after it has been charged off by the finance company?

Yes, a charge off does not mean that the debt is not owed nor collectible. The creditor/lender will generally use whatever means necessary to recover property and/or money owed, including repossession and litigation.

How did soft money create a loophole in federal election finance law?

By allowing the political action committee to collect without limit and spend without repercussion.

Can you withhold payments from paychecks for employee loans in Illinois?

If you owe the money they have every right to collect it. Some states limit how much they can take at once but yes, they can do it.

What is a factoring company, and does working at one require a degree?

A factoring company helps a business make money by selling the business's accounts receivable (the money people own them) to other businesses. These businesses get these accounts for a discount and then get to collect the money when it is paid back. As for the degree, it depends upon what you want to do within the company.

What age can you collect money?

you can collect money at the age of 16, but you will be on a under 18's contract

Is there a time limit that the state government can come after you for unpaid ticket?

In most states there is no limitation. The state wants to collect its money and is not going to limit itself from doing so. Some places will wipe the slate clean after a certain period.

Is good for company to make payment of something and collect from customer later?

It will defends on the situation,The advantages to make payment later to the customer.The company saving money or invest it to the bank

Is it better to do a voluntary repossession?

It will save you some money BUT you will still have a repo on your CR.

What does drake collect?


The loan company says they never received your payment and repossessed your car yet there is a bank record of the money transfer what can you do?

Most attorneys love 'wrongful repossession" cases. Call one in your area.