Credit and Debit Cards
Debt Collection
Statutes of Limitations

Is there a statute of limitations on repossessed debts owed or are they indefinite after the court has found you in default?


Top Answer
User Avatar
Wiki User
2005-01-17 00:00:14
2005-01-17 00:00:14

Yes the SOL varies by state.


Related Questions

User Avatar

What is the statute of limitations for an SBA loan in NC

User Avatar

Until the Statute of Limitations tolls on the judgement.

User Avatar

"Statute of limitations for repossessed vehicles" doesn't make a lot of sense. If you're asking what the timeframe is to get it back... it varies depending on your location, but it's really, really short. Like, a few days in most places.

User Avatar

The statute of limitations on a written agreement in Virginia is five years. The date when it starts running may be difficult to determine, but it is possible.

User Avatar

That statute of limitations for collection of a default judgement in Colorado is six years. Any person trying to collect after that limit is in violation of the Fair Debt Collection Practices Act.

Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.