Legal Question in Credit and Debt Law in Indiana

I co-signed a loan and the other party filed bankruptcy

The car was purchased in Indiana in 1995 and repossessed in 1999. An attorney sent me a letter last month asking for the balance of the loan. Have the statue of limitations ran out. The car was eventually registered in Kentucky can they pursue the debt in Kentucky courts?


Asked on 10/24/03, 8:40 pm

1 Answer from Attorneys
Eric Southward Southward & Haggard

Re: I co-signed a loan and the other party filed bankruptcy

If you signed for the car in Indiana and Indiana venue applys (check the contract), then Indiana law applies and the Statute of Limitations 10 yrs. You may want to consult with an attorney knowledgeable about the Fair Debt Collection Practices Act to see if they have violated any of it. If the other party filed bankruptcy; you are liable.

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Answered on 10/26/03, 9:07 pm


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