Citifinancial and LVNV

Open accounts in your state are 5 years. Written contracts are 10 years. Usually an auto loan would fall under a written contract but if they do not have the original contract then it can't be enforced so maby you can get it under oral contract or open account which is 5 years.

It is worth a shot.

I believe recent case law has affirmed that auto loans fall under statute of limitations for sale of goods (4 years).

http://www.moga.mo.gov/STATUTES/C516.HTM

It's in there somewhere but I can't find it. Been looking at the computer too long,lol. Hopefully that will help you.. Ithink the auto would fall under 516:120 read it and you will see. That would be a 5 year SOL.

The 10 year only applies to contracts for money owed. If you took out a loan of cash and had to pay it back then that would fall under the 10 years. That is not the case, the auto is in the contract so it would be 5 years....

Sounds about right doesn't it????? If it is 5 years then the SOL has passed, send them a cease and desist letter telling them the alleged debt is time barred and all contact by phone and in writing is to stop. etc....etc....

It would be wise to be positive before you send a cease and desist letter though, just in case. Call a consumer attorney or the AG office if you have to.

Not sure..i can read the law, but not sure on implications on credit for sure...I just read somewhere the case of D.A.N Joint Venture vs. clark in Missouri in 2007 in which it was held that missouri law was not specific so auto loan fell under UCC 4 year statute of limitations for sale of goods. Haven't found anything to the contrary.

In Ohio it is seven years with certain exceptions that may extend or toll the time. People need to thoroughly check these places out before they become involved with these scams, especially with the BBB and Local Chamber of Commerce for prior complaints.