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repo, what is the SOL and how long on my CR?


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I got a repo on my CR.

The SOL for the State of Florida is as follows:


Open Acct.: 4

Written Contract: 5

Domestic Judgment: 7 Renewable

Foreign Judgment: 5 if not recorded instate

Which "quantifies" a repo?

The credit union is reporting on my CR that the item will appear on my report for 10 years, is this correct??

Would getting the CR, to state a lesser time on my CR raise my score? I would guess not.


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Only problem there is that once the repo happens and the vehicle is sold, the original contract is null void.

Repo's are covered under the UCC, Article 9 with an SOL of FOUR YEARS. That is also contingent upon whether or not you were sent all of the required papework regarding a right to cure and the sale. If they failed to follow the legal procedures then the SOL to collect a deficiency drops to 2 years.

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