Legal Question in Credit and Debt Law in California
SOL on Car loan
If a car loan was signed in 2002 in Florida, then repossed in Missouri and payments stopped 5/2003, then we have lived in California since 2004 and currently still live here what is the SOL? Also, if they sue us in what state will they have to file?
2 Answers from Attorneys
Re: SOL on Car loan
Both Florida and California have jurisdiction. So they could sue in either state. The statute of limitations is the longer of the two statutes in either Florida or California. California's statute is 4 years from the date they entered the last payment on their books (usually 1 month after your last payment). Also, are you sure you have not been sued yet? A lawsuit may have already been filed, probably in Florida. The statute of limitations runs up to the date of filing, not to the date you are served.
Re: SOL on Car loan
The SOL is 4 years, don't pay, don't promise to pay anything or the SOL will be reset. If you are getting calls from a collection agency over this, don't talk to them, talk to me first.
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