Question by Susan F: Debt Help car repossession?
My car was repossessed a few years back and I know it shouldn’t have been. I called in May of the same year and asked to have June and July payments deferred to the end of my lease, the lady I spoke to said sure no problem. My car was repossessed in october when I called to find out why I was told that August and September were entered in as the deferred months to put on end of lease and that I was behind on June and July. When I asked what happened to the payments I made for the months of August and September I was told they were applied to October and November which werent even due yet. I was told she must have made a mistake entering the months and there was nothing they could do now. I then received notice that my car was being sold at auction and just this week got a letter stating I owed a debt collector 10,000 for sale and attorney fees. What can I do now? I just want the debt gone if possible since I know my car shouldnt have been repossessed in the first place. thanks!
I feel like this is relevant. I have to live at home with my dad because no apartment will rent to me, when I went to buy a new car I had to pay a 42% apr on the loan and I can’t even get a credit card or loan to help pay for school that isnt outrageous with the rates because my credit score is so horrible now.
Best answer:
Answer by MadMan
Whether the car should have been repossessed is irrelevant now. What you need to do is check what the statute of limitations for your state is. If you are past that, then there is nothing that anyone can do to you, except pester you.
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2 Responses
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Caveat Emptor Says:
The fact is the car WAS repossessed, so the damage to your credit record is done. You can’t just “wish” the debt away. Your state’s statute of limitations for debt determines how long a period the creditor has to take legal action against you to collect (i.e., sue you). But even after that period has passed, the default remains on your credit record for at least 7.5 years.
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mildred f Says:
So then you’ll be sued for the cash you haven’t paid the debt collector. And be even more over your head. You will need help to straighten this out. Don’t try to ignore this because it can continue on with a life of its own. Ask your Dad for advice and what do do in your area. Your dad is not responsible for this; you are. You’re stuck riding a bike for the foreseeable future.
Do not even consider loans with such a high interest rate! Ride the bike.
