ExpertLaw Forum - Help With Your Legal Questions
Auto Loans and Repossession Creditor actions following late payment or default on motor vehicle loans.

Reply
 
Thread Tools Display Modes
  #1  
Old 04-10-2006, 01:55 PM
briefcase briefcase is offline
Junior Member
 
Join Date: Apr 2006
Posts: 2
Default
I received a phone call from a collection agency on 3/10/2006, Associated Receivables, Inc. (ARI) Trying to collect on a vehicle that was purchased in 1996 and returned to the dealership two months after purchase (1996) a volunteer repo. due to faulty transmission and engine. Keep in mind this was in 1996, the vehicle was a 1989 Mercedes 300E.

They are trying to sue me for $13,000., but advised me if I pay $400.00 down and send payments of $100.00 every two weeks they will reduce the debt to 8500.00.

I'm not going to mention the names they called me.

Does this fall in the guide lines of statue of limitations..Georga.
Reply With Quote
  #2  
Old 04-10-2006, 03:21 PM
aaron aaron is offline
Administrator
 
Join Date: Mar 2005
Location: Michigan
Posts: 26,484
Default
The statute of limitations would appear to be a six year limitations period covering contracts, which from what you have stated would have expired several years ago.
Reply With Quote
  #3  
Old 04-11-2006, 04:35 AM
briefcase briefcase is offline
Junior Member
 
Join Date: Apr 2006
Posts: 2
Default
Thanks Aaron.
Reply With Quote
Sponsored Links
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Forum Sponsor

Similar Threads
Thread Forum Last Post
Who Reports: Collection agency or owner of debt? Credit Reports 08-02-2006 02:34 PM
Commercial Debt Collection in California Debt Collections 06-24-2006 04:50 AM
Paying off debt with the original lender or collection agency Debt Collections 02-23-2006 11:33 AM
Collection notice for old unsecured card debt Credit Card Debt 02-03-2006 06:19 AM
Debt Collection after Divorce Debt Collections 10-31-2005 10:19 AM



All times are GMT -7. The time now is 04:23 PM.

Information provided in the forum is not intended to substitute for professional advice, including but not limited to professional legal advice. If you submit a question or comment it is assumed that you are interested in soliciting, receiving or giving general information and not legal advice. Laws vary by state, and the laws described in this forum may be different in your state or may have been changed since the information was posted. The legal help offered in this forum comes from volunteers who may not have any formal legal training or knowledge, and all information should be confirmed with a qualified legal professional. All information is made available on an "as is" basis. You should accept legal advice only from a licensed legal professional with whom you have an attorney-client relationship. Use of this forum is subject to the ExpertLaw terms of use.


Powered by vBulletin® Version 3.8.2
Copyright ©2000 - 2009, Jelsoft Enterprises Ltd.
Copyright © 2004 - 2008 ExpertLaw.com, All Rights Reserved