Legal Question in Credit and Debt Law in Florida

auto loan collection

i've lived in NC for 4yrs. Dec 1994 while living in Miami FL, I helped a fellow church member friend purchase a vehicle and obtained a car loan, loan was in my name only. my friend drove the car and made the payments on it. i lost contact with him after moving to NC. just in june 2001 the loan appeared on my credit report as charged off debt ($6000)-what i found out from the lienholder in Fl is that my friend had wrecked the car in 96' and left it on the side of the road--1989 model car--i do not know where car is.i can never pay off car. does statue of limitations apply? credit reports state it was charged off as a bad debt in 1996?--i would like it off my credit report if possible. which state statue would apply?


Asked on 7/25/01, 11:47 am

1 Answer from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: auto loan collection

The laws of the state which has the longer statute of limitations. The S/L in Fl. is five years from the default date that being the date of last payment or written acknowledgement of the debt.

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Answered on 7/25/01, 2:46 pm


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