We are getting a house loan, a condition, of course, is to pay all outstanding collections and charge-offs. We had a Household Repo in 97 or 98 they sold the car at auction and the balance left was $4718. This account is showing on Experian and TU, both have conflicting information so I am not sure what is correct. TU shows is open in 5/97 and closed 10/97 status of 10/97 chargeoff. EX shows it as opened 5/97 repo in 2-98 and chargeoff in 10/2000. I really need to get something done with this before we can close on our mortgage, I don't dispute it because I don't want to wake the sleeping giant. We are living in a different state than we were when all of this happened, does the sol apply for the state that you are now living in or were when this occured. The sol for written contracts in the old state is 5, new state 4/ Promissory Note-Old State 6-New State-4. Open-Old State 3-New State 4. I am having a really hard time trying to figure out when the sol started on this debt. I would like to call them and make a deal and say, hey, sol is up take this for total deletion of the account or try and sue me. We had financed this car with some little sub-prime outfit who sold it to Household, I used to send my payments in Western Union, they would call me and scream at me that I was a liar and didn't make the payment, there was something that was going on with the dealer and I never got a title to get a tag, I got caught by the highway patrol for having a paper tag that was 4 months out of date. He told me to park it and if he saw me again he would have to arrest me. I called Household to come and get it and they did. Anyway, can someone please advise me on this? They update this debt every month so they have not forgotten us.
If they never sent you a title or registration, then I think you could make a case that they defaulted on the loan. I suggest you make an appointment with a lawyer. You may have a case against the dealer and/or lender.
This may be stupid, but I am not at all interested in going that route. All of this happened so long ago that I don't remember the specifics on everything. There are two things that stick out in my mind, no tag and them repo' ing the car at work, right in front everyone who worked there. They did call once after the repo to see if we would settle for $1000, but it had to be paid that day, we didn't have it. I just want this done and over with, the easiest way possible and with the smallest amount of cash possible.
If you never got a title you never really had a car. Looks like a fraud case against both the car dealer and the lender. Sue them both and get every thing you ever paid back and the credit reports about this cleared up.
A repo is not under a promisory note as you are not liable for the original loan on a repo, only the deficiency, and that only if they fulflled the repo requirements of the State it was repo'd in.Most States repo laws state that unless all legal requirements of a repo are met, any deficiency is uncollectible. You will be better off seeing a lawyer than trying to settle an illegal debt.
I could probably settle with them for less than an attorney would cost us. They are really high around here, retainers are $1500. I just want it off so we can buy a house.
If it was a secured loan, as in this case they repo'd the car then why would Household have given him the title?? They would only give the title if it were unsecured (in that case they couldn't repo) or if he paid the car off in full. The dealership is responsible for making sure the car has adequate registration and insurance before the car leaves the lot. The dealer is also responsible for sending the registration's paperwork into the state so they can send you a registration card for the vehicle. If as you say you were driving on the "Paper Tag" for 4 months expired, the dealer should have been contacted immediately and questioned at great length as to why I didn't have a registration card by now?? A dealer in this area did similar crap to customers and he was arrested by the state police because he was pocketing the taxes and registration fee money that should have gone to the state so these people had valid registrations and titles for their vehicles. I'm not getting what is being posted here?? Tac
