Bankruptcy Help

Thread starter #1


Senior Member
Shoot, I ain't even sure how to spell it.

Anyways, I just got a letter concerning a voluntary repo on a truck I owned (at least) 10 years ago. I was in the middle of a divorce, young, dumb and broke. One day the motor locked up on 75. I started pricing a new motor and it was clear that I could no longer afford the truck. So I contacted the finance company and arranged to have it picked up. They informed me that it would be sold and I would still owe any remaining balance. Well it's been 10 or 11 years and I never heard anything from them. I had completely forgotten about it until the letter came saying we bought your debt, and we're looking for a payment of $17,000.00,,,,,,,, in the next 30 days. I'm sure that 7000 of that is interest.

My questions are,

1- Is there a statute of limitations on this type of debt?? After 10 years, I figured the company wrote it off.

2- I am considering filing chapter whatever,,,,,, but not sure how.

You young folks out there take heed,,,,,,,, your youth screw-ups don't disappear with time.


Senior Member
Something doesn't sound right
10 years ago and you got nothing before this?
I would be arguing the price with them,

Been there done that on the bankrupacy thing and it takes forever for it to go away. If you can work woth the company and aviod it then DO it that way.


Gone But Not Forgotten
I'd invest a few bucks and talk to an attorney. I think there is a statute of limitations on many if not most types of debts, but I'm not an attorney and I'm not sure how all that works.
Thread starter #4


Senior Member
Something doesn't sound right
10 years ago and you got nothing before this?
In all fairness,,,,,, I have moved around a lot. Not avoiding anyone,,,,,, just living life as it came up.


Senior Member
I think you got hit by a bottom feeder. Statute of limitations for collections in Georgia run from 4 to 6 years.

I believe (but am not sure) that your situation would fall under the written contract stipulation:

6 years from when it becomes due and payable and the six (6) year period runs from the date of last payment. (OCGA 9-3-24)

But I could be wrong. I think you need to call around and get an attorney to talk to you for an hour-plan on spending up to $400 to get a good one to talk to you.

I don't think this is anything you should file bankruptcy over.


Senior Member
I thought they had 6 years to collect the debt. You should get some professional help and see about sending a cease & desist letter.
Something very similar happened to a friend of mine.What has happened with you is,your original lender has sold this debt to a company that buys these old loans for pennies on the dollar.They then come after you and anything they can get above what they paid for the note is their profit.Next time they contact you (and there will be many),tell them that you don't owe them any explanation,but you are prepared to meet them in Magistrate Court to tell your side.

Aug 02, 2007 -- Fight back against creditors trying to collect expired debts
Did you know there are new requirements for reporting debts or delinquencies? Clark recently had the chance to speak with two experts on the Fair Credit Report Act and the FACT Act (Fair and Accurate Credit Transactions Act). What he learned was illuminating. For example, if you have a credit card debt that went delinquent in January 2000, you might start getting calls from collection agencies in December 2006 -- one month shy of the seven-year expiration limit. What's probably going on is that the collection agency has put a new date on your account. By doing this the agency is breaking the law. If the debt has moved beyond the statue of limitations, you have no legal requirement to pay that creditor anything. Bear in mind that Clark is not talking here about the ethical obligation to pay up -- that goes on forever. He's only talking about your legal obligation.

So what can you do if your debt has passed the statute limit and the collection agency puts a new date on the account just to harass you some more? You can sue them in your own small claims court where you live. They have to come to you and answer for their actions! Just beware that these legal battles can be a two-way street. There are a lot of unsavory characters in the collection business who will try to sue you on expired debts. If you don't show up in court, they get a judgment in their favor when they didn't deserve it in the first place.

Feb 15, 2008 -- Fight back against zombie debt collectors
RIP-OFF ALERT: Zombie debt is a lucrative and illegal part of the debt-collection world that Clark wants to warn you about. Scavenger collectors buy up expired debts that can be up to 30 years old for as little as 1 penny on the dollar. Then they unleash vicious collectors to try to collect, and frequently violate the Fair Debt Collection Practices Act in the process. They may be going after debts set aside in bankruptcy; stemming from ID theft; or that have passed the statute of limitations, which is typically 4 years on credit card debt. There is no legal way they can collect these debts, but that doesn't stop the scavengers from trying to intimidate you.

This is not a discussion about whether or not you should pay your bills; this is about what your rights are on old debts. The scavengers are so good that they typically collect about 13 cents on every dollar. Many of them also engage in illegal activities by wrongfully putting old debts back on your credit report; harassing you over the

phone; or secretly taking money out of your account. If you're being harassed by a zombie debt collector, send them a certified letter stating the debt is invalid and instructing them to stop contacting you. But beware that scavengers don't care if the debt is valid. They've declared war on your wallet and will use any tactics. Be tough and know your rights.
Contact me by PM.

plan on spending up to $400 to get a good one to talk to you.


P.S. There is no such thing as a "voluntary repossession". That's a myth perpetuated by the finance companies to get you to cooperate.
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Good Advice Jim. My friend said that he was very cordial at the beginning and told them that he knew his rights and would meet them in court when they got ready.Then when they continued to call, he would do stuff like,if it was a female,he would ask her what she was wearing,or if it was a male,he would play other tricks.They went away...........
I do believe

you need to respond in writing within 30 days to that letter saying you do not owe the debt due to the statue of limitations have run out. If you don't, they try to renew the date on the debt. For some reason a non response is considered an admission of responsibility for the debt. Go to and he has an example of a fair and accurate credit act response letter you can use as a template to respond to them. I'm no lawyer but I listen to Clark Howard a lot :huh:

and I did stay at a holiday inn express too - one time.

I have no clue if this is a factual statement - just what I've heard on the radio.:cool:


Senior Member
Georgia Statutes of Limitation

Breach of any contract for sale: 4 years, (OCGA 11-2- 725) NOTE: Parties may reduce limitation to not less than one year, but not extend it. A cause of action accrues when the breach occurs, regardless of the aggrieved party's lack of knowledge of the breach.

Contract, including breach of warranty or indemnity: 4 years, (OCGA 11- 22A-506) NOTE: The parties may reduce the period to one year.

Written contract: 6 years from when it becomes due and payable and the six (6) year period runs from the date of last payment. (OCGA 9-3-24)

Open account; implied promise or undertaking: 4 years, (OCGA 9-3-25). NOTE: Payment, unaccompanied by a writing acknowledging the debt, does not stopped the statute. Therefore, the statutory period runs from the date of default, not the date of last payment.

Bonds or other instruments under seal, 20 years, (OCGA 9-3-23) NOTE: No instrument is considered under seal unless it’s stated in the body of the instrument.
Tell em they're too late. :bounce:
pretty shure the statue has run out. like already stated send them a certified letter stating you do not own the debt and also make sure you state not to contact you again. if they do they are breaking the law. check clark howards web site for advise too as already stated.
Thread starter #15


Senior Member
Well, I called them today and played stupid. Told them I was clueless as to the debt and they would have to gather and send me copies of something proving the validity of the debt.

Then I sent them a certified letter "return signature". This is how it read.


May 1, 2008

To Whom It May Concern:

I have been contacted by your company about a debt you allege I owe. I do not believe that this is a valid debt, and ask that your company provide me a copy of any file alleging the validity of said debt. After speaking with one of your associates today, I was informed that this matter involves a vehicle repossession. Please include any file showing the alleged repossession, the “legal” sale of repossessed vehicle and any other history involving this matter.

While I am sure that this is not a valid debt, I am eager to work with F.C.S. to ensure that the invalid debt is legally cleared up.

DO NOT contact me by telephone. At this time, I demand that you only contact me by mail. If at any time I feel that legal assistance is required, I will inform you as to whom all correspondence shall be made.


I didn't want to poke the beast too much until I figured out how long it's chain was. I figured at minimum, it'd by me time to contact an attorney. Hopefully they will send me all the documents I need to prove dates and such.

Thanks to all that replied,,,,,, I was at a loss!!!



Senior Member
I heard about this same thing on Clark Howard yesterday. Do not send them ANY money. If you send them 10 cents, the debt becomes valid again for collection. Clark told that guy to write them a letter stating
1) this debt is not valid, I do not owe you or anyone any money
2) do not contact me again regarding this invalid claim
3) under the Fair Credit reporting act statute of limitations the period to collect this debt has expired
4) If you put a bad mark on my credit report I can and will sue you for damaging my credit and violating the Fair Credit Reporting Act.

You can call Clark Howard and get one of his team members on the phone, they will give you the exact details and help you need.


Senior Member
Give Clark Howard a call, there is I believe a 7 year limit...

He has some pretty good insights into these things...

I had a repo on a Trailer me and the Mrs. had (our first home) back in the 80's which we sold on a "Assumption" where we were still on the hook for a period of time.

The folks we sold to trashed it and it was repo'd... They tried to collect some $$$ but it was over 7 years so the paper they bought to collect on was not worth honk'n their honkers on...

Third party or fourth party paper is the "DREGS" of the earth to collect...

There are some real winners trying to collect this type of paper...

In the words of my 17 year old daughter - Keep Live'n your life!!!

yes there is a statute on debt did they file a court case, if so you have to file a response that you do not owe the money then you file a motion to dismiss the case under the limitation satute