Legal Question in Credit and Debt Law in Michigan
vehicle debt
i purchsed a vehicle 10 years ago. kept it for a couple of months and returned it to seller due to vehicle having engine problems (lemon). no warranty on vehicle. no repairs done by myself on vehicle. vehicle returned in same if not better condition then it was when sold. financed through coompany provided by dealership. 10 years later. finance company want to sue for the entire amount vehicle was purchased. my question is there a a statue of limitation on being sued for a carloan debt. what recourse do i have. did not know snything about the lemon law back then. can they sue me ten years later?
1 Answer from Attorneys
Re: vehicle debt
The statute of limitations on a contract in Michigan is 6 years from the date the contract was signed or your last payment. If this is raised as an affirmative defense, you likely would prevail if you were sued.
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