10 year old car loan debt
Date: Thu, 07/03/2008 - 06:15
Get a copy of your credit report and find a lawyer that can help
Get a copy of your credit report and find a lawyer that can help you clean this mess up.
Repos are covered under the Uniform Commercial Code SOL of 4 yea
Repos are covered under the Uniform Commercial Code SOL of 4 years but only if your state has incorported it into state statutes. I'd start researching to see if you can apply that SOL.
MAINE STATE LAWS
INTEREST RATE
Legal: 8%
Post Judgment: 15% annual (less than $30,000) T-Bill rate over $30,000
STATUTE OF LIMITATIONS (IN YEARS)
Open Acct.: 6
Written Contract: 6 + 20 (with attestment) Domestic Judgment: 20
Foreign Judgment: 20
BAD CHECK LAWS (CIVIL PENALTY)
Amount due, court costs, service costs & collection costs
GENERAL GARNISHMENT EXEMPTIONS
You may garnish 25% of disposable income or 40 times the federal minimum wages per week (whichever is less) After judgement only.
COLLECTION AGENCY BOND & LICENSE
Bond: $25,000 to $50,000
License: Yes
Fee: $400 Yearly
Exemption for out-of-state collectors: Contact state authority. Licensing authority is allowing some exemptions to out-of-state agencies that collect for non-resident creditors and are not soliciting.
by judgement do you mean you went to court and had a judgement p
by judgement do you mean you went to court and had a judgement put on you?
car repossesion debt
I have a repo from 2006, it has reported zero balance until last month and now the original loan comp is saying I owe $8,500. Can they do that? And will they be able to garnish my wages? I live in the state of Washington and it has been 3 years since this originated.