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hopeless said: "I was just wondering if anyone could tell me how long a car repo will stay on a credit report. I husband had a repo back in Aug. 2002. The car (i believe) was in his fathers name. My husband didn't have enough credit to get the car totally in his name so his father signed for him. My husbands name was on the loan, somehow. His dad filed for bankrupcy and because my husband was a few payments behind they came and got the car. I don't have alot of details but Ford Motor credit hasn't tried contacting us recently. I guess b/c of the bankrupcy thay can't collect the remaining dept from his father which is about $8000. I know that the car loan was included in the bankrupcy. I don't even know where to start. Any suggestions would be greatly appreciated."
hopeless said: "I would also like to know what would be the best way to view our credit reports. Should I go for the free reports or should I go ahead and pay for them? Thank ya!!!"
DonM said: "Find out whos name was on the loan. If your husbands name wasnt on the loan, they cant list it on his credit report. Try sending a letter to the CRA's stating that the information is inaccurate and you want the item deleted.
Try using TrueCredit for reports. We all use it to monitor our progress because it is the least expensive. The scores are FAKO's NOT FICO's though.
For your real scores go to myfico.com. But they are expensive and dont give daily pulls. we only use them when we are ready to purchase something major so we dont get ripped off."
rapidanian said: "Conceivably, Ford could still come after your husband for the diff on the repo. What is your state's sol? That is really important.
You can try disputing this with CRA as not mine, but even it comes off the report it may still be a valid debt that will haunt you. If its SOL, that would be different....."
David said: "Before you do anything with anyone..
Find out who was ultimately responsible for the loan.
If it was your DH then you might be in a pickle.
If his Dad was the one on the loan papers only.. then your in the clear.
once you find that out..
Then you can proceed forward."
30clocks said: "One of my best friends included her car on a BK13 and kept it."
hopeless said: "I think the SOL in my state is 3 years but i'm not positive. I live in South Carolina. The car loan was in North Carolina which is the state in which my father-in-law lives in. What exactly does the SOL have to do with the dept? Is that the amount of time in which they can sue? Thanks!"
TScott said: "[QUOTE=hopeless]I think the SOL in my state is 3 years but i'm not positive. I live in South Carolina. The car loan was in North Carolina which is the state in which my father-in-law lives in. What exactly does the SOL have to do with the dept? Is that the amount of time in which they can sue? Thanks![/QUOTE]
Yes, if it is out of SOL, they cannot sue you. I have looked a little into repos and it is complicated. There are several people on creditboards that are very knowledgable in this area. Why Chat is one of them.
Also regarding the SOL, someone had said that SOL can also depend on whether or not the repo was done legally.
I don't know much about it but maybe I can point you in the right direction.
Try creditboards.
Also here is a link with repo dispute info and state repo laws.
[url]http://whychat.5u.com/repoltr.html[/url]
Hope this can help.
p.s. like David said though.......you need to see who is truly responsible first."