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I Have a Judgment Against Me for a Car Loan. What Are They Statute of Limitations?

I have a judgement for a car loan against me in Virginia for $12,980 that was awarded to the finance company in August 2009. It is now March 2012. The judgement is on my credit report. I live in North Carolina and have been here since 2009. If I’m not mistaken I was also supposed to pay interest in the amount of 21%. I think that is wrong because from my research the interest is supposed to be 12% Anyway, my financial situation has improved in that I can pay off my debts over the next few years without filing a CH. 13. Thanks for your assistance.

What are the statute of limitations for me to pay this debt? I was planning to make monthly payments on the judgement, but I’m wondering if the state can still collect? Should I even attempt to pay it off? Can they come after me later in life for this money?


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This is information that was submitted by a third party and not generated by or Steve Rhode.
  • guest

    You can google your state to find out your statue of limitations.It starts from the day they took the loan over.We had two reposessions and they never came after us and it’s now been 7 years on one and 5 on the other.The one that has been 7 years was $3,200.00 left owing and the one that has been 5 was $15,000.00 left owing.Hope this helps.

  • Cheryl6075

    A car judgment (lien) stays on your credit report for ten years.

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