Legal Question in Credit and Debt Law in Louisiana

I had an auto loan where a family member and myself were joint applicants. She was the primary borrower and I was secondary since I was 21 at the time with no credit. Within two years of the loan and timely payments, I was let go from my job, and contacted the financial institution of the loan and explained the situation and committed to a payment plan, however within the month they repossessed the vehicle. After I tried to make further arrangements with the creditor to catch up the loan they agreed to return the vehicle, my family member, the primary owner, then contacted the creditor and stated they did not want the car returned and to keep the car as repossessed. Well I submitted my final payment for the car in 1996 for 1210 of an approx 3500 balance. Well I now have a law firm from the state where the loan was aquired stating they have recently gained a judgment for repayment of 5700 and have given me 10 additional days to pay before they execute the judgment and I have lived in another state for 7 years as of to date. And this debt has NEVER been on my credit report and the primary owner has passed away. Is this legal? Whose laws should I follow? Hasn't the SOL expired?


Asked on 1/23/12, 9:27 pm

2 Answer from Attorneys
Martha Amanda Mandi Lucas Mandie Seale Lucas

In La., monies owed on a contract, can be owed for 10 years. If they received a judgment against you for the balance owed, the judgment is good for an additional 10 years and then must be renewed to stay valid.

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Answered on 2/17/12, 6:59 am


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