Statues of Limitations
Date: Thu, 09/27/2007 - 20:25
I bought a car in Maryland in November 2000 and moved to Illinois in 2002 where it was repossessed. I have since then relocated to Virginia to work for the government and have a clearance. My period review has started and I have received a phone call and promissory note from the originial collector to pay off the remaining balance of my car which is $12k.
Which State should I go by for the statue of limitations? IL, MD, or VA? By the way...the car was sold in IL.
Which State should I go by for the statue of limitations? IL, MD, or VA? By the way...the car was sold in IL.
I believe it would be the state you bought the car in. Im sure
I believe it would be the state you bought the car in. Im sure someone will come along with more infomation.
Thanks,
Luke
I am thinking Maryland, because you lived and purchased it there
I am thinking Maryland, because you lived and purchased it there. Let someone with a little more knowledge come around and clarify this though, I could be wrong. Just my thoughts on how I interpret sol laws.
On a secured transaction I would agree it is probably where you
On a secured transaction I would agree it is probably where you purchased the vehicle.One avenue you need to check is the procedures a creditor must follow during a repossession and sale. If those procedures are not followed to the letter,you may not owe anything. Look under Maryland law for these procedures.
