Repo debt after 20 years?

Discussion in 'Credit Talk' started by mantle51, Jul 1, 2015.

  1. mantle51

    mantle51 New Member

    I'm in ohio and had a repo in 1997 or 1998I forget

    Today get a letter from a lawyer that I owe $7000 and $4500 interest as part of the " hear back within 30 days" letter

    Also included was a copy of a court paper in 2005 where my local court turned the debt over to "First Resolution Investment Corp"

    What do I do? Respond?

    Does the Ohio SOL of 15 years on written cover this?
     
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Welcome to Creditnet mantle51, and I'm sorry your question was missed by the other board members somehow.

    I'm curious what ended up happening with this debt? It looks to me like the SOL has long expired, which would make the debt uncollectible via the courts. Did you ever respond to the law firm or receive any additional communication from them regarding this debt?
     

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