usone123
First Time Poster
Cash: $ 0.50
Posts: 1
Joined: 10 Oct 2006
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| Bad Debt/voluntary repo question |
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HI - My husband had a car a long time ago - about 7-8 yrs he thinks - he can't remember exactly but the only date he knows of is what shows on his credit report.
In 2003 he called the company and told them to repo the vehicle and told them the address it was at. That was the last we heard from them.
Now that he is a cosigner on our 2nd mortgage and some old creditors found him (yes I realize how bad this all sounds) they ahve started calling. We got a letter saying he owed about $20 k for that car that was repo'd - it was a 91 plymouth acclaim - and he bought it very used. he thinks it was 1997.
So anyway... we realize he is liable for the deficiency of the repo if they in fact repo'd it - but I know there is a statue of limitations in most states - and quite honestly - reopo or no - 20 grand for a 91 plymouth is outrageous.
But we don't know what state to go with to figure out the statutes. He lived in Ohio when he bought car - bought it there but his drivers license was an IL license. Then he moved to FL and had a FL license. That's where he repo'd it. Then he moved to CT and that's where his license is currently.
Any ideas? nd please don't bash him for this - he knows ho stupid it wasd and it was a stupid time of his life that he has worked hard to get past. just looking for some honest advice.
Thx
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