Sol, Under Seal???

Discussion in 'Credit Talk' started by dduke25, Oct 26, 2003.

  1. dduke25

    dduke25 Well-Known Member

    Is a car considered written contract or written contract under seal since it goes thourgh DMV with a title?

    SOl Written Contract 3 Years.


    SOL Written Contract under Seal 10 years.

    Big difference.
     
  2. dixidriftr

    dixidriftr Well-Known Member

    Generally upon default of a car loan, the car gets repossessed and therefore the original contract is voided.

    Whats left over is a deficiancy balance, and that falls under the UCC.
     
  3. dduke25

    dduke25 Well-Known Member

    So they dont have a chance of a judgement 6 and half years old since charge off,

    SOL is 3 years not under seal.
     
  4. lbrown59

    lbrown59 Well-Known Member

    So they dont have a chance of a judgement 6 and half years old since charge off,
    dduke25
    ]]]]]]]]]]]]]]]]]]]]]]]]]]]]
    There is always a chance of a default judgment SOL or NOT?

    THE END ** *** ** LB 59
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