Court Case
Date: Fri, 04/29/2011 - 07:39
Just because the case was dismissed doesnt mean the debt goes aw
Just because the case was dismissed doesnt mean the debt goes away. It just means that they just did not get a judgment.
well, as far as your credit report goes, it is very possible tha
well, as far as your credit report goes, it is very possible that the debt is so old that it should have come off your report already. FCRA allows a maximum reporting time of 7.5 years total. Generally, when a repo happens, the account did not just become delinquent, so chances are good that the debt is actually past the applicable statute of limitations for reporting. Being that it is now the end of April 2011, the earliest that that debt could have become delinquent and still be legally reportable is November 2003. When was the repossession? If the repo happened before November 2003, then this has to be illegally reported, and I would dispute with the credit bureaus, informing them that this is outside the SOL. But soaplady is correct--they can still try to collect. Being that the debt is old, you might check with your state laws to see what your state's statute of limitations is on debts. If it is past your state's SOL too, then you can send them a cease and desist letter by certified mail and they will not be legally able to contact you trying to collect on it.
