What to do if I had a vehicle repossessed 11 years ago and have not heard from the company until now?

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What to do if I had a vehicle repossessed 11 years ago and have not heard from the company until now?

The collection company now says that I owe almost double the amount originally owed? What recourse do I have? Is there a statue of limitation on this?

Asked on November 16, 2012 under Bankruptcy Law, Tennessee

Answers:

eric redman / Redman Ludwig, P.C.

Answered 8 years ago | Contributor

in indiana the statute would be 10 years from your last payment or when the loan was last due.  However a judgment is good for 20 years so if the sued you and have a judgment you still need to deal with them. A bankrupotcy would get rid of this and your other debts so you may wish to consult about that.


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