IAAL please help me!!!

[karbourt]

Hello again! I wrote earlier about co-signing on a loan for a motorcycle and the bank has now summoned me on February 22 and I have to respond in twenty days. By the way, I do have an appointment with my attorney on Monday. I am in Florida and the bank that the loan is through is in Florida. My question is this: I signed the loan on March 1, 1995 and no payments were made after May of 1995. If I understand the law correctly, the Florida Statute of Limitations on collection of this loan is five years, right??? and if so, would the time start ticking from the date of the last payment or when? I have paid no moneys to debt collectors and have had no discussion with them as to paying any of this...Please answer so I don't have a nervous breakdown.

 

[solange farewelle]

statute of limitations

I am not a lawyer but I have done alot of recent research regarding credit/collections law. My understanding is that the statute of limitations begins from the date of last activity on the account. I am guessing that you are close to being exempt under the SOL in your state. I would get a short consultation with a local lawyer (should be cheap or even free) to confirm that the SOL has expired on this debt. Good Luck...it sounds promising.

 

[I AM ALWAYS LIABLE]

Hello again! I wrote earlier about co-signing on a loan for a motorcycle and the bank has now summoned me on February 22 and I have to respond in twenty days. By the way, I do have an appointment with my attorney on Monday. I am in Florida and the bank that the loan is through is in Florida. My question is this: I signed the loan on March 1, 1995 and no payments were made after May of 1995. If I understand the law correctly, the Florida Statute of Limitations on collection of this loan is five years, right??? and if so, would the time start ticking from the date of the last payment or when? I have paid no moneys to debt collectors and have had no discussion with them as to paying any of this...Please answer so I don't have a nervous breakdown.

My response:

Florida Statute Title 95, Section 11

"95.11 Limitations other than for the recovery of real property.--Actions other than for recovery of real property shall be commenced as follows:
(1) . . .

(2) WITHIN FIVE YEARS.--

(a) . . .

(b) A legal or equitable action on a contract, obligation, or liability founded on a written instrument."

If the Summons and Complaint was FILED (look at the filing date on the papers) on or BEFORE May 2000, then they are within the above Statute of Limitations. If it is filed AFTER May 2000, then the Bank is out of luck, and your defense to the action would be the above Statute.

Good luck.

IAAL

 

[karbourt]

HeHeHe....it's been almost six years!!!

Hello again from Florida! The date is was filed and recorded with the court is February 16, 2001 so they have well passed the five year statute of limitations...thanks so much...could almost kiss ya'. LOL

 

[I AM ALWAYS LIABLE]

Re: HeHeHe....it's been almost six years!!!

Hello again from Florida! The date is was filed and recorded with the court is February 16, 2001 so they have well passed the five year statute of limitations...thanks so much...could almost kiss ya'. LOL

My response:

You could "almost" kiss me ? I take requests.

Anyway, just make sure that you file a "responsive" pleading to the complaint, using the Statute of Limitations as your Affirmative Defense. If you don't respond to the Complaint, you'll lose the lawsuit and get a judgment against you.

Good luck to you, and make sure you see your attorney tomorrow.

IAAL

 

[karbourt]

Another note to what I wrote earlier...I got my credit report from equifax and the last activity on the account before mentioned was October of 1995 so it looks like just maybe i have a really good chance of beating this..thanks all