About Michael Brotherton Expertise Consumer/Debtor Rights Advocate.
Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years.
Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com.
FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY.
Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be.
Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems.
www.financialemergency.com (copy and paste in browser).
Experience Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
Question I bought a car in 10/01 and financed it through Credit Acceptance Corp. I purchased the car in Ohio, but was living in Kentucky at the time. Around 5/03, it was repossessed in KY. I am now living in Texas - about a year. I am wanting to find out what the statute of limitations is on them suing me. I can't seem to find a clear answer. Some say its 15 years for written contracts in Ohio, some say 10 years for written contracts in KY, and others say it 4 years for Contracts For Sale (adopted from the UCC - KRS 355.2-725), and still others say because the contract was breached, it becomes an open unsecured debt. I would also like to know what state would have jurisdiction in case they were to bring suit. I'm hoping you can provide me with some good info. Unfortunately, I don't have the paperwork. It was all in the car, and I wasn't notified of the sale or given the opportunity to recover my personal items. Thanks in advance,
Adam
Answer I am afraid you are stuck with Ohio Statute of limitations which is 15 years across the board on all types of consumer debt (taxes 10 years). It is determined by where the debt originated.
Being an unsecured debt they would have to find other means of collecting the debt such as wage garnishments, bank accounts, vehicles, etc. But income and employment info is not public record and they have to know where to look. Texas I believe is a no garnishment state. I will check the statutes but I believe they cannot garnishee under $500 per week gross. I will confirm and let you know. They can still attach bank accounts.
Before they can attach anything they must file for a judgment there. This takes time and you can fight to reduce the debt. Let me know if you need help with it.
