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4 years on promissary notes. A judgment occurs when a creditor takes you to court and sues you for money you owe them. They must do this before the statute of limitations has expired for the original debt.

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โˆ™ 2011-09-12 23:39:20
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Q: In Texas what is the statute of limitations for a finance company or collection agency to sue you after a car has been repossessed?
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Related Questions

When cars are repossessed where does the finance company have them taken?

They usually take them to auction after a brief storage period either at the collection agencies or lending institutions yard.


How do you find out where your repossessed car is to reclaim your personal property in Indiana?

Call your finance company.


Can you be sued if you let your mobile home be repossessed?

You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.


Does a finance company who has repossessed your vehicle have any rights to your new car that is financed by another lender?

No


When a car is repossessed does the finance company have to sell it for the amount it is worth?

no, they will sue you for the balance owed after the sale


How does voluntary repossession work on an RV in NC?

Instead of having it forcibly repossessed, you call your finance company and tell them you're voluntarily having it repossessed. They may send a tow service to collect it, or they may ask you to take it to the repossessor. It'll be repossessed, auctioned off, and the amount they get from the auction will be deducted from the amount you owe. The finance company may offer a settlement at that point for an amount less than what you owe on that vehicle - that's up to the finance company.


Can a car be repossessed without you knowing it?

yes because the finance company knows and if you know it may cause problems


Can you finance a repossessed car?

yes


Uninsured finance vehicle has been stolen Cancelled insurance because car was being repossessed by finance company?

You still have rights to recover the vehicle. The finance company may help you look for it if they're desperate enough to get it back. Even if your car was insured, you would legally have to payback the finance company for the car since you broke a binding finance contract.


Your vehicle was repossessed and the finance company charged you ''storage'' fee on the invoice to get your vehicle back can the repo agent still charge for storage?

no because the storage fee that the finance company charged you was what the repo company charged on the invoice. the finance company had no other reason to charge storage fee's they did not store it


Can your car be repossessed by the car dealership if you never gave proof of income?

If you are not making the required payments to the finance company that holds the lean on you car it may be repossessed. Proof of income is not required or relevant.


In pa when a vehicle is repossessed does the finance company have to tell you what their doing with the vehicle?

Usually, they do not have to tell you what they are about to do to your vehicle. But, the procedure is is that they will sell your vehicle in an auction.


Can your car be repoed if you have full coverage and you licance is revoked?

You car can usually only be repossessed if you fail to make the payments to your finance company.


What do I do with a car that was voluntarily repossessed and the finance company won't come and get it?

While most creditors will allow you to have your vehicle voluntarily repossessed, some lenders will not accept them. Your best resolution in this case is to contact the finance company and determine why they will not collect the vehicle. Ensure that they are indeed accepting the voluntary repossession. You will still be required to pay the remaining balance unless you are told otherwise.


A Finance company to finance sales for your Company?

My company doe's home improvements.Need a finance company to finance


Can your car be repossessed from your garage on private property in CA?

A car that is actually YOURS cannot be repossessed, as it's paid off. If you have a vehicle being repossessed, they're able to do this because it's actually the finance company which owns that vehicle and possesses their title. A recovery agent can, on behalf of the lienholder, go onto private property in order to recover the lienholder's property - with limitations. They cannot cross a locked gate, and they cannot enter a locked building.


What are the statute of limitations of debt in India?

what are the statute of limitation of debt in india gujarat for NBFC housing finance company


Bank letter of credit?

A Bad Debt Collection letter is written by the collection or finance company that wishes to receive an outstanding amount from its clients. This letter requests the client to settle the amount quickly. There are a few stages of bad debt collection letter which serve as reminders until harsher actions are taken by the finance company.


What is surrendering your vehicle mean?

Surrendering a vehicle, in a financial sense, means that it is being repossessed and it is being given back to the finance company. The company will usually send someone to collect the vehicle.


If you have two auto loans with the same finance company can both cars be repossessed if one is current?

It depends if the loans are 'cross-collateralized". READ your contracts.


My husband died a year ago. Can the finance company repossessed my deceased husband's vehicle although I have been making timely monthly payments?

no


If a mechanic has a mechanics lien on your car will this prevent the finance company from repossessing your car or prevent you from voluntarily having car repossessed?

No, what will happen is this: the finance company will pay off the mechanics lien (usually) and tack that on your loan balance, it would be considered a repo fee.


How do you get your car back legally from the people who bought it?

It depends on what you mean. Do you mean from someone (a third party) who purchased your car from the finance company after the finance company repossessed it from you? If so, there's not really too much you can do other than find the person and make them and offer.


Does a bank or finance company have to tell you how much your repossessed car was sold for?

Susan, what state are you in?? Who was the lender?? Laws vary by state. Email if you need too. Thanks


If your truck is repossessed in Oklahoma is the finance company reqiured by law to get as much of the owed balance as possible.?

No. They will sell the truck at auction and it will bring what it will bring. You are then responsible for the balance.