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Statue of limitations


beerman109
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4 hours ago, beerman109 said:

Hi if I cosigned an auto loan with someone,it took place in Nj. The company is located in MI,the finance company. The car was bought in Nj and we both life in ny.

 

Which states statue of limitations apply? Is it it 4 years b.c it an auto loan?

Contact an attorney to find out.  The SOL is usually based either on place of residence of the buyer or where an “injury” such as a default occurs.  Check the name of the governing state law named in the contract.   More than likely, the SOL would be either that of  New York or the state named in the contract.

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  • 2 weeks later...
On 2/24/2021 at 7:29 AM, BV80 said:

Does any one know if they will settle for maybe 50 percent. The debt is around 12k,it's just over 3 years old. 

I use to get phone calls from them and sometimes letter but now nothing.  If the statue of limitations is 6 years I'm afaird they one day would just take me to court. Maybe I should just leave well enough alone. I'm gonna see if I can get a free consultation from a lawyer.

 

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