In dire need of advice!!

Anonymous · ‎03-13-2008

I had an auto loan and the car was repo'd in 2000. Calvary had the account and of course in my state the SOL is expired or will expire in November. I have just been contacted by another agency regarding this account and they threatened to sue. Do I need to worry about a law suit or can I just make arrangements to pay off the debt. Please help I don't want to go to court.

llecs · ‎03-13-2008

tryintogetrite wrote:
I had an auto loan and the car was repo'd in 2000. Calvary had the account and of course in my state the SOL is expired or will expire in November. I have just been contacted by another agency regarding this account and they threatened to sue. Do I need to worry about a law suit or can I just make arrangements to pay off the debt. Please help I don't want to go to court.

Check and recheck the repo date. Use that as a basis for DOFD (but date may actually be sooner, because you were late before then). Figure out your SOL. Based on your state, you SOL should be considered a written contract. You mentioned November, I take it 11/2000?

Did you pay anything after that date? Did you move out of state?

You were contacted by a CA, was that in writing?

Anonymous · ‎03-13-2008

I believe the repo date was the end of November, I had just lost my job and I was late but at that time I was current with my payments. I had no insurance (no job) so they repo'd the car.

At the time of repo, I lived in sunny Florida, the loan was originated in Buffalo, New York in 1996. The last payment made was in 2000, I belive November. Since then I have moved back to New York.

The contact made by CA was by phone. I am current on every bill I have except this car, so I had no reason not to answer the phone, and once I confirmed who I was, they zeroed in on me with the purpose of the call.

If they SOL has expired, can they sue me, or are they beating an egg?

Thanks for all the help.

llecs · ‎03-13-2008

tryintogetrite wrote:
I believe the repo date was the end of November, I had just lost my job and I was late but at that time I was current with my payments. I had no insurance (no job) so they repo'd the car.

At the time of repo, I lived in sunny Florida, the loan was originated in Buffalo, New York in 1996. The last payment made was in 2000, I belive November. Since then I have moved back to New York.

The contact made by CA was by phone. I am current on every bill I have except this car, so I had no reason not to answer the phone, and once I confirmed who I was, they zeroed in on me with the purpose of the call.

If they SOL has expired, can they sue me, or are they beating an egg?

Thanks for all the help.

If they call again, ignore it. They must send an initial letter to you, and if not, you can catch them on a FDCPA violation.

So, let's assume DOFD is 11/2000. SOL in FL is 5 yrs and SOL in NY is 6 yrs. By my best guess, you are past SOL on all counts. IMO. I could be wrong if there are specific state or local laws on issues like this.

If SOL expired, they can sue you, but you have a defense in court that you are past SOL. If you get served, be sure to answer! They can continue to try to collect for ever. Thinking your goose is cooked, they've substituted a rotten egg instead.

Anonymous · ‎03-13-2008

Thanks, I will keep my eyes open.