I had a repossession in 1998 and now in 12/2003 I get a letter from collection agency saying I owe $17K. Now this happened once before about 3-4 years ago and I told the CA it was reposseed and that I owe nothing. As you know when a vehicle is repossessed they dont give you a receipt when its taken. So I have nothing to show they took iot but yet they are still after me for the money. This 17K was the note and they probably have other fees thrown in here as well. what does one do in this situation. and how do I get rid of these people. thanks for any input
1998 is a lot of years ago. I'm pretty sure you haven't made any payments since the car was taken. What state do you live in? Check your state's Statute of Limitations. If the debt is out of SOL, then the CA is also SOL. DO NOT MAKE ANY PAYMENTS OR PROMISES TO PAY UNTIL YOU'VE CHECKED THIS - paying certainly will start the SOL clock all over, and in some states even promising to pay starts the SOL clock all over again.
Flying is right, and to add... When a repo occurs your note and contract is null and void. That's the UCC and a federal law. The bank can only attempt collections or sue for the deficiency balance, which is the difference between what the car note balance was at repo and what the car actually auctioned for. The CA must prove this. You need to check out Why Chat's site on car repos. There is a lot of great info on there. They'd have to prove it was reop'd legally, that it was actually auctioned and for a commercially reasonable price and more. I'll try to find the link. Or just search this site under Why Chat and you'll find it. However, Flying is right to 1st check your state's SOL because I beleive even in all states, the creditor has only 2 yrs to attempt to collect on a deficiency balance, and we are way past that. And furthermore, there is no other debt that would eve have been collectable because there is no loan agreement anymore. That was voided the minute the car was repo'd. Are these collection attempts a from a CA or the OC/Assignee (attorney)? If it is a CA I am willing to be a house payment they are thinking they bought a collectable debt from someone. If there was a lagitimate ground here, the bank would have IMMEDIATELY filed a law suit against you not long after 1998. Keep us posted.
I have a letter on my website for repos. "Paying" or "promising to pay" can not restart ANY SOL for any debt unless it is in writing. Plus in MOST States, such a "reaffirmation of a debt" MUST contain a clear WAIVER of rights for it to be enforceable. In the case of an account that has past SOL, there is NO WAY to "restart" the SOL unless a completely new contract -signed by BOTH parties is effected.
There have not been any payemts since it was taken in 1988. I live in NH. My only concern is that they gave me nothing showing it was taken and I sit here in 2003 without anything to prove what they did. What would this come under for SOL..would it be an open account or what ?? thanks
Re: Re: REPO in 1998 A claim for a deficiency on a repo is neither an open nor a written account. It is covered under the UCC § 9 and has a 4 year SOL ,dating from the time of the resale that created the deficiency. ( This, of course, is only for LEGALLY done repos with LEGALLY correct notices of sale and accounting for and claim of a deficiency within 2 years of the repo.)
The consensus is you're safe. Why not just ask for validation and see if you can start documenting some ongoing FDCPA violations. It could be YOU collecting $17,000 from THEM.
I am not one that is impressed with the judicial syatem or the judges that are part of it and feel that from experience everything goes against me regardless of how clear things may be in favor of me. These type of cases regarding money are not black and white and its a judge that determines if your entitled to anything. Its all up to him and with my luck I would get $5.00 for my trouble. thanks for input
Re: Re: REPO in 1998 1*with my luck I would get $5.00 for my trouble. ========================= 1* Well then would you say getting $5.00 for your trouble is better than paying the collection agency $17K.? ?? """"""""""""""""""""""""""""""""""
Re: Re: REPO in 1998 Here in Tampa, a judge was working with the FBI to investigate other judges who were/are crooked. The other judge(s) phonied up a plagiarized version of a paper the first judge had submitted to attain higher rank in the reserve JAG corps, and sent it anonymously to the military in an effort to screw the honest judge. They were also sending bailiffs to snoop around in his chambers. They scared the FBI off the case! The agent handling it described his fears about bodily harm, etc. to his superiors in a letter, and the FBI kicked the case upstairs to the Justice Department and said they weren't willing to work on it anymore. The honest judge is now very angry the case hasn't been moved. Tampa's not very good at cleaning up this sort of thing. In Miami, they clean house in the state courts about every 10-15 years. The feds are on top of things.
