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Reversal holds bank’s suit on repossessed vehicle filed too late

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A pro se litigant won a reversal at the Indiana Court of Appeals Friday, which ruled a trial court erred when it ruled in favor of a bank seeking to collect after a vehicle repossession.

Fifth Third Bank’s lawsuit against Robert Imbody was filed after the applicable six-year statute of limitations, the panel ruled, reversing judgment for the bank and ordering Marion Superior Judge David J. Dreyer to enter judgment in favor of Imbody.

Imbody purchased a vehicle with a loan from Fifth Third in July 2004, but monthly payments ceased in March 2006. In May of that year, the bank repossessed the vehicle, charged off the balance of $31,396, and sold the vehicle at auction.

Imbody agreed to make $100 monthly payments to the bank to satisfy a deficiency balance of just less than $15,000, but those payments stopped in February 2008.

The bank sued in June 2012 and the trial court ruled in its favor and also awarded prejudgment interest and attorney’s fees for a judgment of $24,939 plus court costs.

“The question presented on appeal is whether the Bank’s complaint is barred by the applicable statute of limitations. We hold that the Bank’s repossession of the collateral accelerated payment on the note, which triggered the six-year statute of limitations, and that the Bank’s complaint is time-barred” under I.C. § 34-11-2-9, Judge Edward Najam wrote for the panel.

“The trial court erred when it concluded that the Bank’s complaint was timely filed. We reverse the trial court’s judgment in favor of the Bank and instruct the court to enter judgment in favor of Imbody,” the panel concluded in Robert Imbody v. Fifth Third Bank, 49A05-1307-CC-322.
 

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  1. Thank you, John Smith, for pointing out a needed correction. The article has been revised.

  2. The "National institute for Justice" is an agency for the Dept of Justice. That is not the law firm you are talking about in this article. The "institute for justice" is a public interest law firm. http://ij.org/ thanks for interesting article however

  3. I would like to try to find a lawyer as soon possible I've had my money stolen off of my bank card driver pressed charges and I try to get the information they need it and a Social Security board is just give me a hold up a run around for no reason and now it think it might be too late cuz its been over a year I believe and I can't get the right information they need because they keep giving me the runaroundwhat should I do about that

  4. It is wonderful that Indiana DOC is making some truly admirable and positive changes. People with serious mental illness, intellectual disability or developmental disability will benefit from these changes. It will be much better if people can get some help and resources that promote their health and growth than if they suffer alone. If people experience positive growth or healing of their health issues, they may be less likely to do the things that caused them to come to prison in the first place. This will be of benefit for everyone. I am also so happy that Indiana DOC added correctional personnel and mental health staffing. These are tough issues to work with. There should be adequate staffing in prisons so correctional officers and other staff are able to do the kind of work they really want to do-helping people grow and change-rather than just trying to manage chaos. Correctional officers and other staff deserve this. It would be great to see increased mental health services and services for people with intellectual or developmental disabilities in the community so that fewer people will have to receive help and support in prisons. Community services would like be less expensive, inherently less demeaning and just a whole lot better for everyone.

  5. Can I get this form on line,if not where can I obtain one. I am eligible.

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