Statute of limitations...
Date: Mon, 04/06/2009 - 19:29
My son, who was 18 years old in 1985, purchased a new Ford Escort under a contract with Ford Motors. It was repossed after approx. 6 months. In 2009, he was served with papers that say he owes $29,000 to Ford Motor Co. and they are going to garnish his wages. No prior notice was given for his debt. Is there a statute of limitations in matters like this?
Car loans usually come under the UCC with a 4 year SOL...
Car loans usually come under the UCC with a 4 year SOL...
