I would like to know the answer too. Anyone here know what is the right answer. I'll do some research in Google and get back to you if I discover an decent answer. You should email the people at Lending Tree as they probably could help you..

Depending on your state.

I hear Texas and Cali are pretty tough on OC's too. But TN has no provisions for this, hence I am seeking alternatives. Just trying to be sure this IS one...

Well, in the case of a secured trans that w/ deficiency, this would be right up your alley. If they cant provide th einfo, it would be just one more mark in your book...

Get this...repo info.

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Repossessing needs to be outlawed..

The END ************************* LB 59..

Most (if not all) States have a RISA,here is Tennessee's;.

Retail Installment Sales Act, TCA 47-11-101..

Thanks agin Whychat. Oh,BTW OC sends me a copy of a signed contract and that was all. So I fired off the new version of the verification letter you had me try9the one also quoting UCC and FCRA combined) we'll see how it pans out...

I skimmed over the RIS and it has some good info, howevr (not being fluent in legalese) I dont see how this might apply to a repo. I do see however how they have to provide different kinds of documentation while payments are being made and after payments have satisfied the contract...

Check the usury rates on the RISA, and see at the end what they have on default, that's where you may find some stuff on repo's...

Okay, just received some updated info re: the repo in question..

Originally, I had the item deleted. They reinserted with an updated charge-off date of 02/03. They just corrected it to show charge-off balance of 5k with a date of 3/99. I cant remember exactly when the car was repo'd, but I figured it to be around Mar/April of 99. If they changed the date to mar/99, and also put a balance that was considerably lower than the amount of the loan, I am guessing that this is when they came up with the differential..

So figuring their date of Mar/99, then it indeed has been 4 years since the contract was broken. Whether or not the contract is considered broken at time of default or at time of repo or even at time of resale, either way, 4 year sol should be expired. I dont know how they would have sold it the same month...maybe they did, according to the date they reported the charge-off and deficiency balance..

If I am wrong, someone let me know.....

Aonther interesting thing I found while researching....

WA law says 6 years SOL for contracts..

WA UCC equivalent says 4 year SOL for sales contracts..

So, in most cases where contracts are broken by us CN'ers, wouldnt it be the case of a sales/installment contract that is broken and not the type of contract that would normally carry a 6 year SOL? I am guessing these would be like work contracts, etc..

SO, to those who live in states with contract SOL's that are greater than 4 years, it is something to think about to see if you fall under Article 2 of UCC for the 4 years sol...

I believe that the repo settles the original contract, therefore after that happens htere is no more "written" contract. There is an implioed contract, I believe resulting from the deficiency thereafter. So in the case of a repo I believe it's 4 years regardless..Unless you sign something saying I agree to pay for this deficiency.Then you have a written contract agin and the 6 sol would take effect...

OOOOHHHHHHH...this is where the oral contract thingy whychat was saying goes into effect....

I didnt sign anything about paying for deficiency. ExHub signed something the repo guy gave him, but I never signed..

Hopefully this doesnt count against me...