Legal Question in Consumer Law in Iowa
My daughters fiance' purchased a used automobile 7 or 8 years ago. After a short time, he had some financial difficulities. The vehicle was repossesed in the same condition that it was when he bought it. The lenders told him that he would still have to pay the full amount, & when he didn't they placed a bad mark on his credit report. He didn't pay any more & the bad mark is still on his credit report. My question is, if he no longer has the vehicle, is it legal for them to try to make him pay the full amount?
Asked on 4/18/10, 5:07 pm
1 Answer from Attorneys
Robert Luedeman
solo practitioner
If there's a judgment against him, yes. If not and there have been no payments made the creditor has a statute of limitations problem if they're trying to collect.
Answered on 4/25/10, 11:20 am
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