Can't sleep....need answer please

[Neesy]

I am in Florida. I was divorced and husband left me with his vehicle. Loan was in my name as he had bad credit. Okay, I'm a dummy. Vehicle was repossessed and sold with a deficiency owed.

1) Is there a statute of limitation on how long after this they can file suit?

2) If they are within the timeframe and obtain a judgment, can they place a lien on my home?

Time is of the essence. Please reply as soon as you can.

Thank you.

 

[JenniferH]

1) Don't really know of SOL. If a judgment was rendered there are usually 10 years from date of judgment awarded. Check your state statutes on time expiration on FL judgments.

2) If judgment was rendered, they can lien your house or take any legal actions to satisfy the judgment. You may be able to work out a payment plan w/ creditor to eliminate the threat of legal action.

Good Luck,

Jennifer Hathaway
Judgment Recovery Specialist
Delaware

I am not an attorney. This is NOT LEGAL ADVICE.

 

[Neesy]

I found out that Florida does have a statute of limitations of 5 years from the last activity on the file, or in other words, the date of the charge off, to take action in obtaining a judgment. Once a judgment is obtained, the statute is 20 years to enforce the judgment.

Also, certain property is exempt.....homestead property and a certain amount of land with it, so they cannot put a judgment on that.