Repo? For WHychat and repo gurus
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Posted by nc
(208.190.181.225) on May 06, 2003 at 18:04:13:
I am still reading that a def bal for repo can at most be collected for 2 years after repo date. I thought it was 4. I know each state is different and unfortunately, after much reading, I still cant find anything other than the states (WA, TX) UCC law that says 4 years. It also states that secured transactions that fall under ucc are also governed by Article 9...which pertains to procedures, etc. I guess I am trying to figure out if in fact it is 2 years or 4 years from date of repo.
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