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Yes the SOL varies by state.

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โˆ™ 2005-01-17 00:00:14
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Q: Is there a statute of limitations on repossessed debts owed or are they indefinite after the court has found you in default?
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What is the statute of limitations for an SBA loan in NC


What is the Statute of limitations of auto loan default in Missouri?

10 years


How long can they try to collect money from a repossessed car?

Until the Statute of Limitations tolls on the judgement.


How long is the statute of limitations for repossessed vehicles?

"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.


Can an auto be repossessed after the contractual statute of limitations has passed in Virginia?

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.


What is the statute of limitations for collection of a default judgment on a traffic ticket in Colorado?

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.


What is the statute of limitations for divorce in Michigan?

There is no statute of limitations for obtaining a divorce or for a divorce decree.There is no statute of limitations for obtaining a divorce or for a divorce decree.There is no statute of limitations for obtaining a divorce or for a divorce decree.There is no statute of limitations for obtaining a divorce or for a divorce decree.


Statute of limitations on murder in England?

There is no statute of limitations on this crime.


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There is no statute of limitations for divorce.


Is there a statute of limitations on a loan for a car repossessed 7 years ago?

Depends on what state you are in. Call a local attorney for state specific advice.


Is there a statute of limitations on a deed?

There is no statute of limitations regarding a deed. Statute of limitations is about bringing a law suit for civil or criminal charges.


What is the statute of limitations for murder in the state of Illinois?

There is NO statute of limitations for murder.


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No there is no statute of limitations on war crimes.


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In Alabama that is a felony. There is no statute of limitations.


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There is no statute of limitations. Sorry


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There is no Statute of Limitations for Felonies


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There is no statute of limitations for murder.


In Texas what is the statute of limitations for a finance company or collection agency to sue you after a car has been repossessed?

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.


Do depositions have statute of limitations?

Statute of limitations are for notifying someone that they are being sued or charged with a crime. A deposition is a sworn statement. There is no statute of limitations.


Is there a statute of limitations on a bench warrant in KY?

A statute of limitations is related to bringing a law suit. As such, there is no such thing as a statute of limitations for a bench warrant.


Is there a statute of limitations on cash inheritance in Oklahoma?

A statute of limitations is related to bringing a law suit. As such, there is no such thing as a statute of limitations on an inheritence in Oklahoma.


If the loan on your car was charged off then the lender has written it off as a loss but not repoed it. do you still owe the loan?

Yes. The statute of limitations governs how long you remain liable, in the sense that once the statute has expired, a suit by the creditor will be dismissed if the debtor raises the statute of limitations as a defense. In general, the statute of limitations begins to run when you default on the note or vehicle installment sales contract, not when the car is repossessed. Repossession is one remedy available to a creditor who has a security interest, but it is not the only one. Very few notes limit a creditor to a single remedy. In general, the creditor can also bring a suit against you for the balance owed regardless of whether or not the collateral is repossessed. In most states, the statute of limitations will begin to run when you missed enough payments to meet the definition of "default" specified in the contract or note. Relying on the statute of limitations to avoid a debt has its risks. The statute may be "tolled" by a variety of acts. Leaving the state where the debt was contracted, for example, often stops the clock until you return. In many states, making a partial payment sets the clock back to 0, so the limitations period begins to run from the date of the last payment. In some states, merely making a promise to make a payment, even orally, is enough to re-start the limitations period. Technically, when the statute of limitations expires, it does not wipe out the debt, it only prevents the creditor from bringing suit to enforce his/her rights. In theory, he/she or an assignee of the original creditor can continue to dun you forever, even if they can't take you to court.


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