Would anyone be able to tell me whether or not this repo has passed the SOL? I lived in NY when the contract was entered into, but I currently live in Mass. FORD MOTOR CREDIT CORP Address: PO BOX 1160 HICKSVILLE, NY 11802 Account Number: XXXXX Status: Repossession. Status Details: This account is scheduled to continue on record until 1-2004. Date Opened: 08/1996 Type: Installment Reported Since: 01/1997 Terms: 60 Months Date of Status: 01/1997 Monthly Payment: $0 Last Reported: 01/1997 Responsibility: Individual Credit Limit/Original Amount: Unknown High Balance: NA Recent Balance: $24,108 as of 01/1997 Recent Payment: $0 Account History: Repossession as of 1-1997 What is the best way to deal with this? Any help from the experts would be greatly appreciated.
SOL in both states is 6 years. This only matters if there was a balance due after they sold the repo. I would challenge this at the CRA. First, the info is not complete. Anything "unknown" makes it inaccurate. Given the age of the repo, more than likely, the finance company has off loaded that data to tape and will take longer than 30 days to verify. Give it is try.
Actually, the SOL's on repo deficiency judgments are completely different than any other SOL's, they are also State specific but are found under their motor vehicle repo statutes.They are MUCH shorter than other SOL's usually 1 year or less after resale.Also, it is normal to have "unknown" in a non-applicable field.
Same question, except I know that the SOL in SC is 4yrs. I was able to pay the balance and get my car back. What can I do w/ this info? Here goes: Date Opened:07/1996 Reported Since: 08/1996 Date of Status: 06/2000 Last Reported: 06/2000 Credit Limit/Original Amount: $14,491 High Balance: NA Statusaid/Was a repossession. Sis in SC aka HOMEN04
Same here, contract signed in MI 5/1996, repoed SC 12/97 Date of Last Activity (per Equifax 05/97). What sections of the state laws are these Repo SOLs usually listed. Thanks for any info.
