Legal Question in Credit and Debt Law in North Carolina
We had a car repossesed. After four years of hearing nothing, we received court papers, but were told that if we set up payments, there would be no judgement. We have been paying for 11/2 years now. when purchasing a new car, we found out that we do have a judgement and nothing that we have paid has shown up. What will happen if we stop paying? we were told by the credit manager at the car place to dispute this.
1 Answer from Attorneys
I would consult with an attorney in your area. It sounds as if the statute of limitations may have run out originally but then you may have restarted it by making payments or by not raising it as a defense in the lawsuit. I don't know what agreeements you have in writing but if you do have a judgment against you, certainly the creditor would have to report the payments you made toward the judgment.
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