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Depends on the state you live in. Check the list. Statutes of limitations for delinquent debt State Written contracts Oral contracts Promissory notes Alabama 6 years 6 years 6 years Alaska 3 years 3 years 3 years Arizona 6 years 3 years 6 years Arkansas 5 years 3 years 5 years California 4 years 2 years 4 years Colorado 6 years 6 years 6 years Connecticut 6 years 3 years 6 years Delaware 3 years 3 years 6 years D.C 3 years 3 years 3 years Florida 5 years 4 years 5 years Georgia 6 years 4 years 6 years Hawaii 6 years 6 years 6 years Idaho 5 years 4 years 5 years Illinois 10 years 5 years 10 years Indiana 10 years* 6 years 6 years Iowa 10 years 5 years 10 years Kansas 5 years 3 years 5 years Kentucky 15 years 5 years 15 years** Louisiana 10 years 10 years 5 years Maine+ 6 years 6 years 6 years Maryland 3 years 3 years 3 years Massachusetts+ 6 years 6 years 6 years Michigan 6 years 6 years 6 years Minnesota 6 years 6 years 6 years Mississippi 3 years 3 years 3 years Missouri 10 years 5 years 10 years Montana 8 years 5 years 8 years Nebraska 5 years 4 years 5 years Nevada 6 years 4 years 6 years New Hampshire 3 years 3 years 3 years New Jersey 6 years 6 years 6 years New Mexico 6 years 4 years 6 years New York 6 years 6 years 6 years North Carolina 3 years 3 years 3 years North Dakota 6 years 6 years 6 years Ohio 15 years 6 years 15 years Oklahoma 5 years 3 years 5 years Oregon 6 years 6 years 6 years Pennsylvania 4 years 4 years 4 years Rhode Island 10 years 10 years 10 years South Carolina 3 years 3 years 3 years South Dakota 6 years 6 years 6 years Tennessee 6 years 6 years 6 years Texas 4 years 4 years 4 years Utah 6 years 4 years 6 years Vermont 6 years 6 years 6 years*** Virginia 5 years 3 years 6 years Washington 6 years 3 years 6 years West Virginia 10 years 5 years 10 years Wisconsin 6 years 6 years 6 years Wyoming 10 years 8 years 10 years *Six years if contract is for payment of money. ** Five years if promissory note is added to a bill of sale. + The applicable statute of limitations in Maine and Massachusetts on a debt owed to a bank or on a promissory note signed before a witness is 20 years. Me. Rev. Stat. Ann. tit.14, s 751; Mass. Gen. Laws ch. 260, s 1. ***Vermont's statute of limitations on a promissory note signed before a witness is 14 years. Source: Money Troubles: Legal Strategies to Cope With Your Debts, 9th edition (Nolo, 2003). http://www.nolo.com. Used by permission

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โˆ™ 2006-05-05 17:18:31
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Q: Is the statute of limitations counted on an auto loan default from the date of the last due payment or when the auto is repossessed?
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Related questions

Can you get a repossessed car back?

READ you contract. Likely not on a 1st payment default.


Can a vehicle be repossessed if the payment is 21 days late in New York State?

READ your CONTRACT. IF the contract is in DEFAULT, the collateral CAN be repossessed.


Can your car be repossessed if the payment is two weeks late?

READ your contract. If you are in DEFAULT of the terms, you can get repoed.


Can a car be repossessed if you are late making the remainder of the down payment but have been on time making the car payment?

YES, making the down payment is part of the contract and you are in default on it.


How late does your payment have to be before your car can be repossessed in Florida?

Its NOT a matter of HOW late, just that you ARE late. Read your contract. That should explain when you are in DEFAULT.


If a car payment is due on the 14 but a payment will not be made until the 29 can the dealer repossess the car in Georgia?

YES, if you are in default of the contract, the collateral can be repossessed. Read your contract again.


If your car payment was 22 days late and when you made your payment the car was repossessed on the spot is there anything you can do?

It looks borderline MEAN, but if you were late, you were in DEFAULT and the lender has the right to repo when you're in default. Some lenders (BHPH lots) are MORE aggressive in their repo policies that others.


Can a vehicle get repossessed if your first payment is 15 days late?

Read the fine print of your contract carefully. I have never heard of a vehicle leasing/purchasing contract NOT having a first payment default clause.


Can a vehicle be repossessed because the payment is 15 days late after 4 years of payments and only 3000 dollars owed?

If you are in DEFAULT of the contract, the collateral can be repoed.


If your car was repossessed for a payment that the finance company forgot to record are you still responsible for the repo fee?

IF you were NOT in DEFAULT, then it was a wrongful repo and you shouldn't have to pay. Call a local attorney NOW.


What if your car was repossessed due to lack of insurance yet was insured at time of repossession?

Vehicles cannot legally be "repossessed" due to a lack of insurance. Re-possession can occur only when there is a default in the payment contract and the original owner (the lender) recovers their property from the defaulter.


Can a car be repossessed the day a payment was made?

YES.

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