California | Credit and Debt Law
5/03/11, 9:57 am
Legal Question
My short question is... in California, does repossession constitute a payment and therefore reset the statute of limitations. The last payment on my ex’s vehicle (an airplane) was in 2006. Somehow it slipped through the cracks and was never repossessed until 2008. On the repossession, there was never notice given. A shady debt collection agency is now coming after me for what was remaining on the loan after the repossession. Does the statute start to run in 06’ or did it get reset to 08’?
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