Anyone know the SOL on a car repo in Ohio, and how long after the repo a judgment can be issued? I believe it is 15 yrs on a written contract, which is what this was but I am unsure on the correct way the series of events should go. It was repo'd in April 1998, and a judgment was issued Oct 2001. I am just a bit confused. Any help is appreciated!
I can't use my search feature right now. There used to be some awesome info regarding deficiency balances and how long a company had to sue for. First of all I remember the vehicle having to be sold for fair market value. Secondly, there is a time frame that they have to sue you for. Also, there were very strict guidelines that they had to follow in order to repossess, and sell and sue for deficiency and if they didn't follow the rules they lost out. Anyone? Bump?
Here it is: http://community-2.webtv.net/Y-chat/WhyChatsCredit/ If that link doesn't work. Go to the Unofficial FAQ section here at credit net and there will be a shortcut that says "Where can I find Whychat's Website?" That will also take you there. The problem that I have with this link is that there isn't specific info. A few months ago, there was someone posting here who actually worked at a dealership or something and they new everything. Like every single step that had to be taken to repo a car. I can't find anything in the search. I am not good at searches. Have you tried the search?
Okay, here is another good link. http://consumers.creditnet.com/stra...adid=40228&highlight=Why+Chat...repo+question This link talks alot about the NY repo laws, but it also has universal laws as well. It's a start. Good luck! BTW, I went to the search function and typed in auto repo. There were tons of threads on this subject.
