budercup

notice of intent to sue 5yrs after repo

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Ok here's the story the car was financed in GA(6/99) and repo'd GA (early 2002) I moved in 7/02 to OH. Not sure if I got any letters from them, I know I didn't sign for any letters. My CR states it should fall off 10/08. Last week I get a letter from an OH lawyer stating their firm has been retained to initiate a lawsuit to collect 7,500 unless I pay full amount or contact them to set up repayment.

In the letter it also states"FDCPA does not require we wait intil 30 days from the date you receive this letter before filing a lawsuit against you" and goes on to say that if they do file before the 30days I still have the riht to request validation.

I disputed this last year and it came back verified 7/06 and unchanged. What should be my next move? Please correct me if I'm wrong...1 year left on my report But I can't pull the SOL on this b/c it's considered a written note (15yr in OH but 6yr in GA) I really don't want to contact them I just now getting financially stable, I don't have the extra 7k to just hand them or evento make payments

Sorry so long, just worried, thought I was almost done.

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DO a search on Repo's, lots of good info to help, what doesn't help is that you are in OH which sucks for sol. Good Luck

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Search for Whychat and go to his website. He has fantastic information on repos and how to handle them!

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repose are governed by a 4 year UCC SOL

Yup. And if they never sent you a sales report saying what the vehicle was sold for at auction within 60 days (if memory serves) of the sale, then under the UCC they loose the right to any deficiency balance completely.

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Yup. And if they never sent you a sales report saying what the vehicle was sold for at auction within 60 days (if memory serves) of the sale, then under the UCC they loose the right to any deficiency balance completely.

I just looked this up for OHIO, if you do a search on REPO and my name, you will find that statute that covers this. They must notify you within 10 days after the repo with the calculations of the deficiency.

EDIT: here's the link, http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=270666

Not sure on the days of notification, I was looking at VA code also and they require 10 days. However, the link I have provided will take you to the Ohio code and you can find the answer that applies to you.

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yeah, good luck. I find,myself in the same boat as we got a call today from a lawyer just when we moved into a house (ours was lost), credit was getting better. Didn't the agency provide notice, have to give notice? I'm gonna get busy myself.

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