Motor Home repossession statute of limitations

[Mel Santiago]

What is the name of your state (only U.S. law)? California

The Bank of America repossessed our motor home July of 2012. Since September of that year we paid into a debt service so when Bank of America sent it to a debt collection we would have enough money and a negotiator to take care of the issue. Well here is it March of 2016 and nothing from Bank of America and we have the money to cover the negotiations in an account. What is the Statute of limitations on this? If it is past then we are allowed to take that money out. What can Bank of America do after the statute of limitations is past?
Thanks for your time if you can answer this question.
Mel

 

[OHRoadwarrior]

Contact Bank of America to find out the balance owed after auction.

 

[single317dad]

What is the name of your state (only U.S. law)? California

The Bank of America repossessed our motor home July of 2012. Since September of that year we paid into a debt service so when Bank of America sent it to a debt collection we would have enough money and a negotiator to take care of the issue. Well here is it March of 2016 and nothing from Bank of America and we have the money to cover the negotiations in an account. What is the Statute of limitations on this? If it is past then we are allowed to take that money out. What can Bank of America do after the statute of limitations is past?
Thanks for your time if you can answer this question.
Mel

Statute of Limitations on your debt for your motor home in California is four years after the date of delinquency. Normally, that date is 30 days or so after the last payment you ever made on the loan, though that can vary. Note that BoA is still allowed to collect your debt, and is under no obligation to ever loan you money again, but will be unable to successfully sue you in a court of law to collect.

http://www.dca.ca.gov/publications/debt_collectors.shtml

CCP 337:

http://www.leginfo.ca.gov/cgi-bin/displaycode?section=ccp&group=00001-01000&file=335-349.4

 

[Mel Santiago]

Motor home repossesion

Thanks for the response and you did confirm the statute of limitations of 4 years which will be on July of this year. That was the last time we paid on the RV. So they cannot sue for the amount and if they do it will not hold up because of the statute of limitations. They have yet to go to collections to collect the remainder from what they received from the auction. So I will be to take and close my account of the money saved to pay for the negotiations of the debt. I really do not care if BofA gives us any more credit. Again thanks for your great reply.
Mel