Re: Car Repossession
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Posted by LadynRed
(68.32.101.73) on November 23, 2003 at 22:02:20:
In Reply to: Car Repossession posted by publico on November 23, 2003 at 20:11:01:
You say the SOL has run.. does that mean its been more than 4 years since the car was repo'd ?? If so, then the UCC SOL HAS indeed run, 4 years, for collecting on a deficiency .. and it is NOT reset by making a payment. Did the client get notification of the sale of the vehicle after it was repo'd ? Did the client get any notification of a deficiency due after the sale ? If no to either question, then the SOL for collecting a deficiency on a repo,per UCC is TWO Years instead of 4.
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