Legal Question in Credit and Debt Law in California

Old Reposession

I had a vehicle repossessed when I lost my job in 2001. Apparenly I am responsible for the balance due after it was sold at auction. I have never paid this. Am I still responsible for the debt almost 7 years later? My parents just received a call from Accelerated Finance saying that they were preparing a case against me.


Asked on 4/07/08, 1:08 pm

2 Answers from Attorneys
Carl Starrett Law Offices of Carl H. Starrett II

Re: Old Reposession

First of all, the statute of limitations on the breach of a written contract is 4 years from the date of the breach. If this happened in 2001, a lawsuit for this type of debt would be time barred and it should even drop off of your credit this year under the 7-year rule set forth in the Fair Credit Reporting Act.

This sounds like a collection agency and I see at least 2 possible violations of the Fair Debt Collections Practices Act: (1) threatening to file a lawsuit that they cannot legally file; and (2) discuss the matter with a third party (your parents). I find a local attorney who practices consumer law because you might have a claim against the collection agency.

Read more
Answered on 4/07/08, 4:54 pm
Robert F. Cohen Law Office of Robert F. Cohen

Re: Old Reposession

Most likely, not. Unless your purchase agreement stated otherwise, the statute of limitation on a written agreement is four years from the date payment was due and not paid.

Check the purchase agreement. Your parents could tell them not to call ever again, and they have to stop calling. If they sue, immediately take the lawsuit to an attorney. Do not hesitate to do so.

Good luck!

Read more
Answered on 4/07/08, 1:21 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in California