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There are only 2 states where the statute of limitations is the longest--15 yrs., Ohio and Kentucky. Either way--the time starts when the last payment/sale of the car amt. was applied to the balance. Make sure your time limit is up when you call your Attorney General in your area. Have the name of the company, phone number and the name of the collector/s for the Attorney General Check the following link for your state's statute of limitations http://www.bankrate.com/brm/news/cc/20040116b1.asp?print=on I Would Contact Your County Attorney About This. Sounds Like The Sham Artists Are Out Again. I`m Almost Sure In No Way You Are. But For All Concerened, This Needs To Be Made Known. Call The County Attorney Give Him The Facts And The Person`s Name That Has Called.

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โˆ™ 2006-08-23 14:49:17
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Q: If your car was repossessed 16 years ago are you still responsible for that loan?
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Related questions

If a car was voluntary repossessed and the cosigner was not notified is the cosigner still responsible?

Yes. If you signed the loan, you are still legally responsible for it.


If your car is repossessed do you still have to pay for it?

The vehicle will be sold at auction, the proceeds will be applied to the loan and to the repo fees, then you will still be responsible for any remaining amount owed to the loan.


If you voluntarily let your car be repossessed by the lender do you still have to pay on the loan?

Yes! It will still be listed on your credit report as a voluntary return and you will still be responsible for the cost


If a car is repossessed will the co-signer be left with bad credit?

Yes he/she is just as responsible for the loan as the signor of the loan.


Is a co-buyer responsible for paying off a loan if the buyer has no job and the vehicle was repossessed?

Yes, he or she would be equally responsible for the repayment of the loan balance.


Who is responsible when your car is being repossessed in Pennsylvania?

The owner of the car (person(s)) who took the loan on the car are responsible


Are you responsible for the balance of a loan after the collateral is voluntarily repossessed and auctioned?

YES, read your contract.


Can a car be repossessed if the owner dies before the first payment is due?

The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.


If you have never had a car repossessed you have had a house repossessed Can I still get a car loan?

Most likely not depending on what financial situation you're in.


What can happen if you don't pay a title loan and you still have the car?

The vehicle can be repossessed.


Can you still owe money after your car is repossessed because of the recall?

If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.


Where do you stand if repossessed truck is sold for less then the loan?

You are responsible for the remaining balance of what the vehicle sells for and what you owed when it was repo'd.

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