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After reading this i may have made a MISTAKE...


CD0819
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My husband took out an open line of credit on a lawn mower. We had an adgrrement 0% interst for the first year. If it was not paid by that year date they would add that year of interest. We missed the payment by one day (we thought it was due on the 5th and it was due on the 4th). they would not work with us and added $400 or so in interest. Then we got behind on payments and they turned us over to a CA, then we got a served at our house by the clerk of court stating they were suing us. We agreed to pay 4 payments of $500 and one $300 payment. After reading this I feel like maybe they had no grounds to sue bc I did not pay since 2008. Do I just keep paying this HUGE debt, btw I did not negotiate for them to remove it from my creidt in writing :( or do I try and renegotiate with them or refuse to pay, if that is EVEN POSSIBLE at this point since the SOL prob started over?

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It may or may not have been past the SOL (but can't really tell from your post)...however, whether it was or wasn't past SOL there really isn't much point in worrying about it now as you seem to have made a brand new agreement...I would suggest you simply get this paid off and put it behind you.

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I don't think you made a mistake.

According to your profile you live in Louisiana. The SOL on revolving debt (like a credit card) is 3 years. When you took out a "line of credit" does that mean you opened a store credit card? If so the SOL is three years from your date of delinquency.

If you financed the lawn mower like a car, scheduled payments for 5 years (or whatever), i.e. a fixed duration for a fixed amount of debt...that sounds more like a promissary note which can be actionable for up to 10 years.

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