Thank you very much for your insight.
Ok. Thanks for the information. Following my first post,
I have had another discussion with the potential mortgage company credit department and they corrected what they indicated to me earlier. The past repo is being reported as "open" and balance still due. Not being reported as "continual repossessions. So, with that said, what should I now do? The representative from the mortgage credit dept. told me that this will stay on my record for a total of 7 years, at which time it will completely fall off. Any thoughts? This leads me to another question. If I "lay low" and the creditor does take this to court for a judgement before the SOL period expires, will I be officially notified via mail from the court? What I hope not to do is have this last period of time pass and then find out afterward I have an outstanding judgement against me and that I cannot attempt to negotiate the final amount. BotXXX XXne is that if it looks as if I can fly under the radar, I will. But if I am forced to pay, I want to have whatever wiggleroom I can to negotiate if possible. The last correspondence I got from them (14-18 months ago) was an offer to pay half.
I understand the court may not notify of the SOL timeframe passing. My main question is that while waiting out the last months to pass, if the creditor actually pushes this into court and gets a date in court, will I be notified in advance of this? If so, will the notification come from the court via certified mail? Or can they "claim" they "tried" to notify me? They have no record of a physical address other than my PO Box which has served as my billing/mailiing address for over 17 years. The physical address used when I purchased the RV was the storage facility where I kept it.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).