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Repossesion Federal Reporting Period?

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    #1

    Repossesion Federal Reporting Period?

    I have a Repo in my credit history. No Bankrupcys.

    The repo occured in 97. One or two attemps were made in the couple years that followed to collect on the supposed balance after auction.

    It has been listed a charge off on my credit reports since then however, a new company has purchased the debt and is looking to collect over twice what the balance was. Darn near the price of the car original.

    I have not heard from this creditor in at least 5 years untill today,
    Last edited by jmesawitz; 02-14-2006, 06:33 AM.
    Tags: None
    #2
    Read this thread:

    http://www.bankruptcyforum.com/t5928...-mistakes.html

    And research your state's Statute of Limitations on bad debts for car loans.
    Filed Ch 7 - 09/06
    Discharged - 12/2006
    Officially Declared No Asset - 03/2007
    Closed - 04/2007

    I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.

    Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...

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      #3
      I had a bad check, which was paid ( week later), back from sept 1999. In April 2005 I got a call from some company called JBC Legal trying to collect....HELLO 6yrs later. I disputed it with the company and they never sent me anything to validate the debt, YET they STILL harassed me!!! So I included it in my BK, and they still tried to collect and harass me. As of today, I have been discharged , and my lawyer is suing them for violation for the Fair Debt Act .

      Get a validation of the debt, and check your local laws and SOL...this company may not have any grounds to stand on!!

      Pink

      Comment

        #4
        I want to thank all who replied.

        Yesterday I was desperate.
        This morning I was furious.

        After reading your replies, especially the thread posted by SinkingFast
        I am relieved.

        Thanks again.
        Jay

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