Re: Maryland repo question

Posted by lawguy (216.30.212.58) on March 28, 2003 at 10:29:25:

In Reply to: Maryland repo question posted by maryland on March 27, 2003 at 00:34:25:

In Maryland, the SOL for a deficiency suit pursuant to an installment loan for the purchase of goods (such as your automobile), is the 4 year UCC SOL. Scott v. Ford Motor Credit Co., 691 A.2d 1320 (1997). Its not entirely clear from the MD court decisions when the limitations period begins to run, whether on the date of resale or the date of notice of the deficiency amount. (The MD court has held that one is not liable for a deficiency until notice of the deficiency is delivered; hence, it seems likely that the SOL begins to run then, as that is when the cause of action accrues.) In any event, the latest it would be would be the date the notice of the deficiency amount was delivered.

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