Legal Question in Credit and Debt Law in Illinois

10 year old debt

I had a car repossession in 12/1997. They sold the car when I was able to purchase the vehicle back. Now the company wants me to pay the remaining amount that was left on the car. It has been 10 years, 12/2007. I was wondering should I file for bankruptcy for this matter or does it get cleared off my credit report because how old it is? What should I do or what needs to be done in this matter?


Asked on 2/05/07, 1:20 pm

1 Answer from Attorneys
Terrance Leeders Leeders Law

Re: 10 year old debt

It is possible that the account could be still collected on, depending on the chain of events that occurred after the vehicle was auctioned off.

A bankruptcy would discharge that debt regardless. Give me a call for a free consultation and I'll be happy to go over your options.

Thanks

Sincerely,

Terrance S. Leeders

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Answered on 2/05/07, 6:26 pm


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