Lawsuit over car repo

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Been there.  They are sold to the highest bidder. 

The lender doesn't care as long as they get their money.

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Sounds like you could get some incredible bargains if you go to a car auction.

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 Most of the auctions aren't open to the public.  So the dealer gets it for an awesome price then jacks it back up for us.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Been there.  They are sold to the highest bidder. 

The lender doesn't care as long as they get their money.

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Sounds like you could get some incredible bargains if you go to a car auction.

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 Most of the auctions aren't open to the public.  So the dealer gets it for an awesome price then jacks it back up for us.

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That stinks.  So they can effectively steal someone's car.  Take the case of the OP, they can auction the car off for almost nothing, make him pay the fullshot and then turn around and sell the car and earn another boat-load of cash on top of that. 

[Bankrupt2019]

No, it is not listed in my credit report.. which is why im wondering if maybe i should just fly under the radar....like i am now

[Bankrupt2019]

as long as the repo falls off at 7.5 years i should be all set.

[Anonymous]

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@Bankrupt2019 wrote:

as long as the repo falls off at 7.5 years i should be all set.

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You'd be all set for credit reporting purposes, but not from the other non-credit-reporting effects of the judgment.

[Bankrupt2019]

What do you mean? like having to pay for it? Im really at this point only concerned about how it affects my credit.

[Anonymous]

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@Bankrupt2019 wrote:

What do you mean? like having to pay for it? Im really at this point only concerned about how it affects my credit.

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As far as the repo tradeline on your credit report, that will fall off at the 7 - 7.5 year mark and you'll be ok as far as your credit report is concerned.

Of course, the judgment itself could appear at any time, but ordinarily I'd say that if it hasn't appeared by now then it probably will not show up. 

[Bankrupt2019]

yeah I'm kind of hoping it doesn't show up but ut has been over 5 years since the repo and lawsuit...so im thinking if keep paying they wont do it. hopefully. I'm thinking my best bet is to just fly under  the radar with this one and deal with it as I have been and let it ride.....

[Anonymous]

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@Bankrupt2019 wrote:

yeah I'm kind of hoping it doesn't show up but ut has been over 5 years since the repo and lawsuit...so im thinking if keep paying they wont do it. hopefully. I'm thinking my best bet is to just fly under  the radar with this one and deal with it as I have been and let it ride.....

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It's not the judgment creditor who reports the judgment to the credit bureaus; it's a data aggregator.  In any event, unless there is court order to enforce the judgment, it's unlikely they will find the judgment and report it to the CRAs.

After the SOL expires on collection of the judgment, you can then safely tell them to take a hike.

[Bankrupt2019]

it's New Hampshire  I think the SOL is like 20 years on that.