car loan
Date: Mon, 03/28/2011 - 15:57
My husband had a car that was purchased in the state of California in 2003-2004. About a year later he moved to Utah and brought it here with him. Not long after that it was repossesed. He told me that he was making payments on it up until the day it was repossesed and that it was because he moved it to different state without getting permission from the lien holder. Does this sound right? Now 6 years later they are trying to collect on the balance and are threatening garnishment and have filed a judgement that is showing up on his credit report in March 2011. Does the Statute of limitations go based on the State that the contract was signed or the state in which the car was repossesed? California SOL is 4 years from the date of breach and Utah is 6 years (can't tell if Utah is 6 yrs also from the date of breach or not) Help!
If the car loan was paid on time every month, then the lender sh
If the car loan was paid on time every month, then the lender shouldn't have repossessed the car. It would have been better if your husband could have spoken to the lender then and sorted out the matter. As the vehicle was repossessed in Utah, the lender will follow the laws of Utah. The SOL in Utah for such debt is 6 years since the date of breach of contract. If the vehicle has been repossessed and sold off, the lender can come after your husband in order to collect the deficient balance.
