Re: SOL on a reposession is really only 4 years

Posted by Why Chat (209.240.205.61) on November 04, 2003 at 23:47:07:

In Reply to: SOL on a reposession is really only 4 years posted by Doogank on November 04, 2003 at 20:30:03:

IF the repo was carried out legally, and IF you received full notice of all your rights and a full accounting of the resale, then the SOL on any deficiency is 4 years from the date of the resale.

This is in the UCC § 9 which has been adopted by all States, with some additional protections and modifications added in individual States.

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