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getting sued for remaining balance after they repossessed and auctioned it off. What should I do?

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You can file for bankruptcy which will wipe out the debt a judgement stays on your credit for 7 years it's a lot easier to re establish your credit after a bankruptcy then having public records on your credit if it's been 4 years the statue if limitations has expired and they can't get a judgement on you 

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After 4 years they can not collect on the debt and most places would rather charge off then go to court 

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Time-Barred Accounts

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First let me state this, I am not an attorney. Therefore, anything I state here should not be construed as legal advice. Seek legal advice from an attorney in your state.

Depending on where you live there is a statute of limitations set by the state government, which prevents collection agencies, and creditors from sueing you in court for the debt. However, you need to check to see what that limit is in your residential state (the state you reside in).

The clock starts from the date of your last payment or whenever the account went deliquent; whichever is the latest. In my state, Kansas, the statute of limitations is 3 years. However, for some states it is 10 years, so make sure you check first before showing up for court. You can locate this information by googling:  your state debt collection statute of limitations.

Moreover, you will need to show up for court and establish that the debt is "time-barred" with the Judge. You can do this by requesting from the collection agency or the original creditor the date at which the account went deliquent. Once this is done, he/she will declare the debt time-barred and throw the case out. However, your suffering will not be over, because the debt can and will still be reported on your credit report for up to 10 years (more in some states), and will continue to haunt you.

Therefore, it may be best to speak with an attorney that can help you navagate this process; and help you decide the best plan of attack. Also, keep in mind that many of these debts are sold for pennies on the dollar to the collectors; that being said, they seldom have all the original records that proves you owe the amount. Therefore, that can come into play at the hearing, and can be used to discount the debt collector (I know of some people who used this in court and won the case). But don't get your hopes up, and like I said, speak with a reputatble attorney that can advise and help navigate you through this, legally.

Hope this helps and reaches you in time to prepare for your court hearing. And as stated above, your attorney may advise you that the best approach to this is to file for bankruptcy, but please seek an attorney's advice before proceeding any further.

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That is indeed pretty much the only thing to do at this point.

Ultimately the credit collector and/or the collection agency can do whatever they want (Within the stipulation of the law of course) to recuperate any losses. To some that means the full amount. So if they did not get the full oustanding amount by auctioning off, they can legally come after you for the remainder.

Technically if they have recuperated the full amount, they should stop, however all incured costs in trying to recuperate the monies can at that time be considered additional outstanding balance.

The long and short of it, you can go to court, but unless it is an exhuberant amount of money and you know for sure how much they got at auction (and of course the two don't add up)  you will probably not win.

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A bankruptcy (Chapter 7) which was the most common before laws changed will stay on your credt report for 10 years. A chapter 13 is only 7. Eithyer wait for the statute of limitations to expire, pay it (highly recomended as I had to do this) which will help your credit over all. 

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Pay them or suffer the judgment on your report for 10 years.

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Don't Believe the hype

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Don't listen to any of them contact me and I can tell you how to fight and clar this matter.


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My husband and I moved to another state to get better jobs and when we got jobs we were trying to pay the car payments on time, but they came and repossessed our car and I almost lost my job. We had to start riding the city bus and I need to buy another car so that we can move back to the state where we moved from because of job change. I can not even get a car loan at all because of what is on my credit report. Most of the items on there are medical bills that should have been payed by insurance. I sent the bills to my insurance company and they said that I was responsible for them. I slipped and fell on some ice and I am currently in a lawsuit against the company that caused my fall, but my insurance company will not pay them. I do not know what to do. I need help.

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Run and hide

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Ugggggggggh, I dont know, maybe you could be an adult and pay your debt???

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