Heritage Acceptance Trying to collect old abandoned debt Elkhart Indiana
I bought a car through Quick Auto.. paid on it for 2 years, it broke down and I could not afford to get it fixed. I called them and they said I could do a voluntary repossesion. I later saw the vehicle again on their lot for sale. I never heard anything from the finance company until just recently, which is 9 years later. They are now threatening wage garnishment. I don't believe they can do this to me. Does anyone know if I am correct or not? If the car was sold wether it be on their lot or at auction, that portion of the sales should be applied to my past due debt? Is that correct? I bought the car for 5000$ they are suing me for 7300$. Any input would be helpful.
Jen
Bluffton, Indiana
U.S.A.
2 Updates & Rebuttals
Robert
Buffalo,New York,
U.S.A.
Check with your state Attorney General Office.
#3Consumer Suggestion
Wed, September 24, 2008
The statute of limitations for contracts and/or NOTES in Indiana is 10 years.
If this is applicable to your car note then they can sue and win a judgment against you.
If you receive a summons, do NOT ignore it else they win a default judgment against you.
Tim
San Bernardino,California,
U.S.A.
Don't even sweat it
#3Consumer Suggestion
Tue, September 23, 2008
Nor worry about what should have been applied to your existing debt. In every state, 9 years is WAY over the statute of limitations on collections. If it appears on your credit report, the law says it has to come off (you need to dispute it with all three credit reporting agencies, and it will then come off). A critical element is that you DON'T RESPOND TO ANYTHING! There are things you can do or say which will re-affirm the debt and start the clock ticking again. Dummy up about it. Dispute it if it appears on any report. Then ignore any communication.