Hey! Any lawyers in the house?

[Dooner]

Does anyone know what the statutes of limitations are on a bank loan for an auto? Known activity was from 1988-1992 and the auto was repoed in 1992.

[Joseph]

Does anyone know what the statutes of limitations are on a bank loan for an auto? Known activity was from 1988-1992 and the auto was repoed in 1992.

I'm not a lawyer and it's not my favorite source for information, but this may point you in the right direction. It will probably vary by state.

If it's your credit report you're concerned about, according to the FTC, a consumer reporting company can report most accurate negative information for seven years or the statute of limitations, whichever is longer. For closed accounts, they sometimes have a date that it's scheduled to continue on record. You may have to request each of the three CRCs to remove it.

Joseph

[dovaka]

again im not a lawyer but i know from my credit repairing that im still going threw that the original debtor can sell it to another company and it seems to essentially start the 7 year clock over unless you fight it
i ended up hiring these guys http://www.fowlerandfowler.net/ i highly recommend them for any credit dealings they have so far saved me from paying about $15,000 in old crap

[Sierrajack]

Dooner,
Check with the Texas State Attorney General's office or check a local attorney that offers free consultation. The vehicle was repoed 15 years ago and probably sold to pay the original debt. That's a lot of water under the bridge. The 3 credit reporting agengies usually will have items listed on your credit report for 10 years. If you have some so-called debt collector calling you, that's a scam. Get a free credit report on line and see if this shows up and double check dates. I would believe the statute of limitation is 7 years and the loan was paid even through repossession. Last resort - contact the attorney. Dispute any negative reporting on your credit report - make it hard on the other guy. Been there, done that!!!