Ask a Lawyer and Get Answers to Your Legal Questions
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. Bottom line 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.