Legal Question in Credit and Debt Law in Missouri
Voluntary Repossession
I purchased a mobile home in 1995 in my maiden name with my now ex husband. I lost my job in March of 2003 and unfortunately lost the trailer as well due to voluntary repossession. I quit making payments on it in 5/03 and am just now having a debt collector call me.
Is is true that since the debt is in my maiden name and its been more than 10 years I can get out of it and if that isn't true what are my options? The account no longer shows up on my credit report but I am afraid that it will again. Will they sue both my ex-husband and I for the account or will it just come back to me?
1 Answer from Attorneys
Re: Voluntary Repossession
Depending on whether they can produce the original note or not, you may be out of the woods. If they cannot prove up the original note you signed, they would have to proceed on account in which case the 5 year, not the 10 year, statute of limitations would apply. However, they likely have the original note. If they do, the 10 years runs from 6/03, the date of the first missed payment. The right to sue you arose on that date, and any lawsuit would be barred after 10 years. That makes the Statute of Limitations date 6/2013 -- obviously a ways off.
The creditor can sue you, or your ex-husband, or both of you. If they only sue you, then you can sue your ex-husband as a third party, saying basically, if I am liable, so are you. This would cut in half the amount you would owe.
You need to see a lawyer and get some advice on this. This is not something that you can get help on line with. Whether they can or will sue you depends on many different variables. I hope this helps.
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