Hello all credit netters, I have been here for a while reading and trying to soak in as much stuff listed on many of the posts. So now I'm ready to start repairing my fiance and I credit reports. First thing I've done was delete all old addresses. Now, the question I have is my fiance has a voluntary repo from 99 by Ugly duckling where I think I read somewhere here, that they changed they name to Drive America. She brought the car in Jan/99 and the car just died on her/bad engine in 6/99. They would not work with her to get her into something else, so she decided not to pay for it, I know bad mistake but we live and we learn. But they are not reporting a balance, if there was a deficiency to pay wouldn't it be listed on the balance part of the Cr. My question is now if she disputes as "not mine" can they come after her for a deficiency, even though $0 is listed for the balance on her Cr. Ugly duckling is the only one reporting. My fear is that she disputes as "not mine" and wakes the sleepy giant and they try to collect on something. She told me, that they did not following proper procedures of letting her know that the car was auction off and how much it sold. Matter of fact she said she got nothing. Should she try and delete or let it ride out into the sunset. They way it is listed: acct #: 1234567 Type of Account: Installment Date opened: 1/99 Date Reported: 10/01 Date of last Activity: 6/99 Status: vol repo High Credit: 7758 Balance: $0 Past Due: $0
MY BF DISPUTED A REPO (LAST ACTIVITY 2/2000), BEFORE THE DISPUTE IT WAS LISTED AS PROFIT AND LOSS CHARGE OFF, BALANCE 0. AFTER DISPUTE IT WAS LISTED AS REPO, BALANCE $10,000. IF THEY R NOT REPORTING I WOULD NOT DISPUTE. SLEEPING GIANT NOT ONLY WOKE BUT ANGRY. BUT IF THE SOL IS UP, THEY CAN NOT DEMAND PAYMENT.
I'd say go for it. Your past SOL. The can still contact you and try to collect, and even file a lawsuit. It is up to you to use the SOL affirmative defense. Medisha, you should demand a statement of account from the OC as to how they determined that figure.
Thank you so much for your posts. The only thing is I still don't know what the SOL is for GA. I've read numerous posts and links. But at last, I'm still confused.
SOL for a deficiancy balance on a repossesion falls under Uniform Commercial Code which is 4 years from the date of the sale of the vehicle.
