Legal Question in Credit and Debt Law in Florida

Re: Truck title

I've never heard of a buy-here-pay-here lot going 4 years without payment.

But on to the legal issues...

If you borrow money from one company and another company is now saying that the borrower has to pay the new company, then they will need to provide some documentation that they have the right to collect on the debt. That came come in the form of a bill of sale for the account or an assignment for the account to the new company. (Do not confuse this with the bill of sale for the vehicle, we are talking about the loan not the truck.)

In addition to the question as to who is the true owner of the loan, the other issue is the statute of limitations. Creditors can collect/file a lawsuit on debts based on contract up to five years from the last payment date. While there are other legal theories, all of them have a shorter statute of limitations than five years.

I find it particularly confusing that the same dealership that knew nothing about the debt/loan/truck just a short time ago suddenly claims the right to collect the debt. I would want some evidence showing that they own the debt and have the authority to transfer the title once the debt is paid off.