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LOAN 8 YEARS OLD, CAN THEY STILL COLLECT ON IT?

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  • LOAN 8 YEARS OLD, CAN THEY STILL COLLECT ON IT?

    My bf has a debt from 8 years ago, it was for a van that a title was leined to. The van is in our garage, and doesnt work? They keep calling to collect it, what can they do? can they take a tax refund, still make him pay etc??

  • #2
    Re: LOAN 8 YEARS OLD, CAN THEY STILL COLLECT ON IT?

    Originally posted by DANIELLE81 View Post
    My bf has a debt from 8 years ago, it was for a van that a title was leined to. The van is in our garage, and doesnt work? They keep calling to collect it, what can they do? can they take a tax refund, still make him pay etc??
    So, your b/f financed a van, decided to stop paying, and now wants to keep the van without paying for it because he failed to maintain it and it finally broke down?

    In what state did this occur, and have you moved since then to a different state? Where is the finance company located? When was the last payment made on the loan?
    "If it ain't in writing, it never happened."
    "A lack of planning on your part does not constitute an emergency on my part."
    "You can never make the same mistake twice, because the second time you make it, it's not a mistake, but a CHOICE."

    Comment


    • #3
      Re: LOAN 8 YEARS OLD, CAN THEY STILL COLLECT ON IT?

      It is in PA, I have been with him for over three years, so its been at least 4 years. I think when he was in Iraq 2008-2009 his ex wife stopped paying it. He tried telling them to come and get the thing, but they wont? idk!! Sorry for being so vauge!

      Comment


      • #4
        Re: LOAN 8 YEARS OLD, CAN THEY STILL COLLECT ON IT?

        As he still has the van, they very likely can continue to collect.
        Due to a recent promotion, I should now be referred to as Major Obvious.

        I would not be trying to provide information and knowledge if I did not sympathize.

        Some days it is just not worth chewing through the restraints to face life.

        Comment


        • #5
          Re: LOAN 8 YEARS OLD, CAN THEY STILL COLLECT ON IT?

          The contract the boyfriend has had on the van has a four year statute of limitations since it was created in Pennsylvania.

          Here is the text of the statute:

          § 5525. Four year limitation.
          (a) General rule.--Except as provided for in subsection (b),
          the following actions and proceedings must be commenced within
          four years:

          (1) An action upon a contract, under seal or otherwise,
          for the sale, construction or furnishing of tangible personal
          property or fixtures.

          (2) Any action subject to 13 Pa.C.S. § 2725 (relating to
          statute of limitations in contracts for sale).

          (3) An action upon an express contract not founded upon
          an instrument in writing.

          (4) An action upon a contract implied in law, except an
          action subject to another limitation specified in this
          subchapter.

          (5) An action upon a judgment or decree of any court of
          the United States or of any state.

          (6) An action upon any official bond of a public
          official, officer or employee.

          (7) An action upon a negotiable or nonnegotiable bond,
          note or other similar instrument in writing. Where such an
          instrument is payable upon demand, the time within which an
          action on it must be commenced shall be computed from the
          later of either demand or any payment of principal of or
          interest on the instrument.

          (8) An action upon a contract, obligation or liability
          founded upon a writing not specified in paragraph (7), under
          seal or otherwise, except an action subject to another
          limitation specified in this subchapter.

          (b) Special provisions.--An action subject to section 8315
          (relating to damages in actions for identity theft) must be
          commenced within four years of the date of the offense or four
          years from the date of the discovery of the identity theft by
          the plaintiff.
          (Oct. 5, 1980, P.L.693, No.142, eff. 60 days; Dec. 20, 1982,
          P.L.1409, No.326, eff. 60 days; June 19, 2002, P.L.430, No.62,
          eff. 60 days) [emphasis added]


          One can toll the statute of limitations by making a payment and then the four year statute begins to run again. As long as he has not made any payments in the past four years, the statute should have run out 4 years ago [total 8 years since last payment].



          Do not take the word of collection agencies when it comes to statutes of limitations for they will say whatever they need to try to collect -- even long after the statute has run.

          The reply previous to this is incorrect. There is nothing in the statute re possession of the property tolling the statute of limitations on contract debts.

          Comment


          • #6
            Re: LOAN 8 YEARS OLD, CAN THEY STILL COLLECT ON IT?

            Thx for looking up the statute FIC.

            (No meds due to testing tomorrow. Not of much use today.)
            Due to a recent promotion, I should now be referred to as Major Obvious.

            I would not be trying to provide information and knowledge if I did not sympathize.

            Some days it is just not worth chewing through the restraints to face life.

            Comment

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