Debt Collection-Tolling ?

[jammers]

What is the name of your state? California
Okay, I said one more question last time, (sorry). I have been reading a little on tolling and would like to know if it applies to me. You have helped me so much here lately and value your expertise. A quick rundown (I'm sure you remember it all)LOL.

Lived in NC at the time vehicle was purchased-2000.
Last payment made was July 2001.
Turned vehicle in late July 2001.
Received 1 notice from Wachovia Oct 3, 2001 that vehicle was in recovery/could recoup and nothing more. (SOL 2 years without docs sent)
Moved to Cali arriving here Oct 1, 2001-(Notice from Wachovia was forwarded on by change of address).
My question is "tolling" and the SOL-does this change anything. Do I go by NC SOL or Cali SOL? I'm really trying my best to make sure all bases are covered and learn from everyones advise. I've never been back to NC since.

Thanks so much.

[Tayla]

This debt is still considered collectable and within the time frame for litigation by the bank in question. The bank can and most likely will request a judgement on this debt, despite ones' voluntary return of said automobile. Your moving will not change the banks right to collect.


The bank can use whichever state the original contract was in or the current state of residency.Whichever has the longest statute for collecting on past debt.

[jammers]

Bear with me on this. Isn't the SOL on this in NC 3 three years, 2 years because they did not send ANY documents after sale of vehicle. NC was the original state of the contract, defaulted in NC (if that means anything)LOL. Do they not have to use state that contract was signed in for SOL? SOL in cali would be 4 years. Did SOL start when I moved or by default date(date I last paid to account was 7/2001).
I'm trying really hard to understand all the ins and outs. Bear with me please.

Thanks

[Tayla]

Correct: NorthCarolina is 3 years for a written contract. They have Three years from time of loan going into default.

30+days from last payment commences defaulting.

California is 4 years for a written contract.

The bank is at liberty to file in either state. I would advise and be highly surprised if a judgement hasn't already been implemented in North Carolina. Have you checked your Credit Report? Its rare that a bank wont proceed within a year from repossession to request judgement. Whether you were served properly is another issue entirely.

[jammers]

Heres the thing. I had filed bankruptcy(bad thing)another story though. There was reaffirmation on vehicle, but ended up turning vehicle in same month bankruptcy dischaged. Anyway I pull my credit report a couple of months ago and there it is. I contact them and they say the info (not file, they state they cannot find it) has been sitting in bankruptcy depart since 8 of 2001. They never sent any notices after the 1st letter to recoup. Had not sent to collection department of Wachovia until May 2005. Anyway thats a short version. Guess I never should have checked in to it.

[Ladynred]

Written contract does NOT apply here, that was null and void once the car was repo'd and sold.

I have told you that the UCC governs repos and that the SOL is 4 years IF they followed proper procedures and 2 if they did not. I even gave you the portion of the UCC that applies. If you don't believe me, read the whole UCC yourself, Article 9 in particular. UCC has been adopted into the statutes of all 50 states, mostly intact.

[jammers]

Dearest Ladynred, yes I got the UCC and have tried my best to understand all the terms and how it reads. I used to think I was a fairly intelligent person (LOL), but confusion seems to be running rampede this week with all the info. I think if I would just sit back, relax and take it all in, it will CLICK in the old, tired, brain. Again, your expertise is greatly appreciated and thanks for showing so much patience with me.

Have a great day.