Legal Question in Credit and Debt Law in Ohio

Loan account attempt to collect

14 yrs ago I went to a truck driving school part of it was govt financed and other was loan from school. It was my understanding that the trucking co I went to was paying the loan off for working for them. I havnt heard from the school for over 12yrs and I am fully disabled now and they are threatining legal action.Is there a statue of limitations or what can they do on this. they offered lump sum settlement but me being disabled i cant do this. please help.the trucking co has gone out of business many years ago.


Asked on 6/19/03, 3:04 pm

1 Answer from Attorneys
Daniel Hawes Hawes & Associates

Re: Loan account attempt to collect

yes, there's a statute of limitations. if you signed a written contract, it's five years. if not, your defense may be that their contract was with the defunct trucking company and not you. But if there's no written contract, the statute of limitations begins to run on an "open account" as of the date of the last demand made upon you, not the date the debt was incurred.

if they get a collection agency involved, you need to take action in writing to protect your rights, and there are strict time limits for doing so. be sure you don't let that slide.

Read more
Answered on 6/24/03, 11:37 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Ohio