@jmichael24 wrote:In July 2008 I had a voluntary repossession HFS. They never contacted me or anything until now, 6 years later saying I have defaulted on the loan and wanting to set a 12 month payment plan on the difference of $9500 and they transferred the debt to a debt collector.. Is there a SOL to collect this debt? Shouldn't this be removed from my CRs?
Yes there is a SOL, it would be whatever your state allows for written contracts. The SOL sets a timetime for successful judgments once its past SOL your defense against a lawsuit is the SOL and that leads to auto dismissal. Debt collectors can attempt to collect forever, once its past the SOL and if you dont want to deal with them a FOAD letter would be in order.
Adding: In WI & MS the debt is considered dead at SOL and all collection actions must stop.
