Repossessed Car From 1986

by jennifer
(texas)

I got a call from a collector. They said i owned a car that i gave back in 1986, because of illness. They sold it at an auction. He told me i had to pay 13,000.00 and if i didn't they were going to file a 1099-c form and collect at tax time. Can they do that? He said its on my credit report but wouldn't it be off after 7 years? That was in 1986.

Comments for Repossessed Car From 1986

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Jan 05, 2011
 collection on old reposssed car
by: Gerri

Jennifer,

It is nothing short of astonishing that this debt collector is trying to pressure you to pay a 25 year old debt! Unless there was a court judgment against you, this debt is very likely well outside the statute of limitations. (And even if there is a judgment it may have expired at this point.)

In addition, collection accounts may only be reported on your credit reports for seven and a half years from the date you first fell behind with the original creditor. Period.

Again, unless there is a court judgment against you there is no way this should still be listed on your credit report. (And even then it's very likely too old to appear on your credit reports. Unpaid judgments may be reported for seven years or the governing statute o limitations, which may well have expired.)

I would encourage you to call an attorney right away. It sounds very possible that this collector has broken the law in more ways than one. If he has, you may be entitled to damages and attorney fees. You can talk with a consumer law attorney with experience in debt collection cases. Learn how to get low cost or FREE legal help with your debt collection problem here.

Oh, and please check your credit reports at AnnualCreditReport.com right away to find out if this debt appears on any of them. If it does, you may have a case for credit damage as well.

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