Legal Question in Credit and Debt Law in Texas
Hello,
my case is as follows. I bought a used car from a dealer. I was making my payments on time. My family and I moved out of the country and following the banks recommendation, I left the car under my name and the payment booklet with an aquaintance, who had no credit at all to continue payments of almost 3 yrs. One day, my acquantaince stopped paying and my husband ina visit told the bank where the car was, and it was picked immediately. The bank also told him, they would take over. This was back in 2000.
I returned to country this year, and they have been calling me every day about a debt of a repo car that I had already forgotten.
If it has been so long, is it right for them to be after me because of this?
Please advise.
1 Answer from Attorneys
The statute of limitations on a debt is (generally) four years.
The bank will claim that the SOL was TOLLED while you were out of the country - that they couldn't sue you, or didn't know where you were, etc., during the time that you were out of the country.
If you can afford to pay them, try to work something out with them. If you can't afford to pay them, or if they won't work with you, tell them to file suit, and stop talking to them (they won't stop calling, by the way - when they keep on calling, just hang up on them).
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