ST. LOUIS – A federal appeals court on Tuesday dismissed three class action suits brought against three Missouri credit unions over their repossession of vehicles sold under the Centrix Financial subprime auto loan program, saying the three-year statute of limitations on the claims had expired by the time the suits were filed, almost six years after the fact.

The three credit unions are Missouri Central CU, United Consumers CU and Central Communications CU.

In its ruling, the U.S. Court of Appeals for the Eighth Circuit said the claims against the now defunct Centrix, which filed for bankruptcy in 2005, were time-barred because of the statute of limitations on the state’s version of the Uniform Commercial Code and the Missouri Merchandising Practices Act, under which the claims were made. A lower state court also dismissed the case, and the federal appeals court upheld that ruling.

The notices were sent between Dec. 20, 2004, and Jan. 20, 2005. The complaints were filed between Nov. 24 and Dec. 15, 2010, nearly six years later.


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