Is there a statute of limitations for non payment of a remaining balance for an auto loan after reposession

Question

Is there a statute of limitations for non payment of a remaining balance for an auto loan after reposession

Answer

Yes. Generally, a debt evidenced by a writing, must be brought within ten years. Most car loans I've seen are in writing, and signed by the borrower. The question is when the ten year period starts. It could be from the date of the Lian, your last payment, the repossession, or some other date. The facts of your case may be that there is a shorter period in which the lender or holder can sue. You should consult directly with a civil or administrative practice attorney. T

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