Which SoL applies for a car repo'd in NC when I am currently living in NY now. The car was repo'd in Dec 2000. I moved to NY March 2001. NC's SoL for written contracts are 3 years, but NY is 6 years. Which SoL applies to me?
It could be none of the above. If what you are inquiring about is a deficency amount from when the repoed car was auctioned, then when the car was auctioned, more than likely the contract SOL ended, and the deficency SOL *BEGAN*.
And also examine the contract thereof. Some contracts specifically require laws of the state in which the creditor is incorporated govern. In that case, it could be either NY or NC. If that does not apply & if NY has a Foreign Limitations Statute (ie If shorter SOL in state where Cause of Action occurred, then use that SOL), then NC applies.
Deficiency SoL? This doesn't sound good at all. What exactly is a "Deficency SoL"? And what can I do to get out of it. It has been at 3 years and 6 months since they took the car and resold it. In fact the car itself has been totaled in 2002. I pulled the vin number thru Carfax.com. The amount they said I owed was around $1000 after they sold the car. However since I was unable to pay that, they jacked it up to $5500. I think they just blew it up to screw me over a little bit more. $5500 is what I owed prior to them selling the car again. I don't think they will be able to prove all those extra charges to get it from $1000 to $5500. What I am considering to do is request validation of the "deficiency" and dispute the CO with all the major credit bureaus at the same time. I wouldn't mind paying them a much smaller amount, say $200 to $250 or less to get it changed to never late, always on time 8) But anything else, they can shove it. I don't have the car, they resold it getting what I owed them and they spanked my ass with an high interest rate anyways. (young and stupid than, but not anymore) Do you think I have a good chance to get it removed by disputing it with the bureaus and requesting a VoD at the same time?
Not only that they reported it as a Charge Off. If I am not mistaken that means they used it as a write off on their taxes. Shouldn't that be considered also when requesting a VoD?
