Debt Collection After 15 Years

**Scoop** · 03-25-2011, 09:25 PM

My question involves an auto loan or repossession in the State of: Ohio
How many yrs. after a loan can a bank collect a debt. It's been about 15 yrs. since the loan was made with a co signer. Vehical was repossessed and sold. Bank was suppose to notify me, if there would be any money owed after the sell. Bank never contacted me, until a collection agency sent a letter to me demanding money after 15 years. When does the Statue of Limitations run out in Ohio for loans on cars?

**LawResearcherMissy** · 03-26-2011, 07:46 PM

The SOL only applies to how long they have to SUE you to recover the debt. The SOL on written contracts and promissory notes in Ohio is 15 years.

They can pester you to the grave, but they can't sue once the SOL has passed.

jk · 03-26-2011, 08:10 PM

the sol on a contract, in Ohio, is 15 years. Ohio also allows the time to toll (clock stops running) under some circumstances.

and a slight correct to missy's post; they can sue you. You would have to claim the right to make a claim is barred by the sol. Failure to invoke that defense means it is not going to stop them from winning a judgment.

**flyingron** · 03-27-2011, 06:16 AM

The original creditor can pester you forever, but third parties are enjoined from even trying. Big award in the ninth circuit over this FDCPA violation.