Legal Question in Credit and Debt Law in Florida
i had a car repoed in 1994 that i paid like 10,000$. i owned it for three months,its now 2011 and im still getting letters asking for payments but they are now wanting $13.000 . is this a scam because it not even on my credit report or anything?
1 Answer from Attorneys
The collection letters could be a scam, could be a debt purchased by someone who doesn't know the facts of repossession, or could be a deficiency from the resale of the auto compared to the amount owed plus interest. It will not show on your credit report or be collectible in court because of the age of the debt. Regardless, you have no legal liability to pay the debt unless the creditor can provide a court order within the statute of limitations for such debts which entitles it to collect the debt.