Auto Repossesion

by dian
(cherry hill, nj)

What is the quick and dirty regarding a car repo? A vehicle was repo'd over 12 years ago when I was married. The vehicle was hers but the auto was in my name. I am now divorced. I printed my credit report and the amount of 7K was on there for this vehicle. Is there a statute of limitations for this?

Thank you

Comments for Auto Repossesion

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Jul 30, 2010
auto repossession on credit report
by: Gerri

Did the creditor get a default judgment against you for this debt? That would make the crucial difference here.

Generally, a collection account/default cannot be reported for more than 7 1/2 years from the date you first fell behind with your original creditor. But if there was a judgment against you, that may be reported for a longer period of time.

Similarly, the statute of limitations for a debt versus for a judgment debt is different.

Please use the comments link below to tell us whether this reporting is the result of a judgment. If not, please tell us how it is being reported on your credit reports.

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