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Richard
Richard, Attorney
Category: Business Law
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Experience:  32 years of experience practicing law and a businessman.
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What is the statute of limitations on an auto loan in

Customer Question

what is the statute of limitations on an auto loan in Georgia? The vehicle was reposed and auctioned 11/10/2009.
Submitted: 10 months ago.
Category: Business Law
Expert:  Richard replied 10 months ago.

Good morning. My name is ***** ***** I look forward to helping you.

Pursuant to Ga. Code Ann. § 9-3-20 et. seq., the statute of limitation on a promissory note for an automobile is 6 years.

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Expert:  Richard replied 10 months ago.

Therefore, if the vehicle was auctioned on 11.10.2009, the statute of limitations has run and you have an absolute defense to any obligation to pay this debt. :)

Expert:  Richard replied 10 months ago.

You are likely being contacted by a collection agency. I would send them a certified, return receipt requested letter explaining why you do not owe this debt and demand they immediately cease and desist all further efforts to contact you and/or anyone else to collect this debt. Inform them that any efforts to do otherwise will constitute a violation of the Fair Debt Collection Practices Act and that you will report each and every violation to the Federal Trade Commission. Each violation carries at least a $1,000 fine. Also let them know that should they file any negative credit report, you will be filing a defamation suit against them for both your actual and punitive damages. In my experience, the fine under the Federal Act and the threat of the defamation should be an end to these collection efforts.