Legal Question in Credit and Debt Law in Texas

Car Reposession
My car was reposessed in December of 2000. I got an initial letter from the bank stating that they took the car, but never received any further notices letting me know when/where it would be sold, and to date have never received a bill stating that I owe them any further monies. I recently got preapproved for a home loan and know that there is a notation on the reposession mark on my credit report that mentions an amount of $8,000 or so (but there are no judgments saying that I haven't paid it). I have never been sued for any additional monies or even gotten an invoice in the mail. My question is after two years can they still come forward and try to collect this money even after they had not informed me of when/where they were selling the car? Is there a statute of limitations on collecting this money?

Asked on 12/14/02, 3:52 pm

Peter Bradie Bradie, Bradie & Bradie

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Re: Car Reposession

The Texas statute of limitations on a debt is four years from the date the date was in default.

Answered on 12/14/02, 5:42 pm

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