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  1. #1
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    Statue of Limitations for Auto Loan

    What is the name of your state (only U.S. law)? TX

    What are the statue of limitations for a defaulted car loan in Texas?
    Cosigned on a car note then 1 month later wife left me. She later voluntarily turned te car back in to the dealer. They sold the car at auction and now the difference in what was owed on the car and what they got for it at auction is the amount they are trying to collect. Divorce papers say that she is responsible for the car. Have been told that creditor does not care what papers say that I am still responsible. Anyway, I received a letter today from a law office in Wisconsin stating they are trying to collect the amount that is owed to their client (GMAC). I think this is the second time the note has been bought because the previous party that tried to collect was from a different law office in another state. Do I have any rights?
  2. #2
    cosine is offline Senior Member
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    You have a lot of rights, including the right to pay it. Or you could just wait until they sue you (they might, they might not ... such decisions are often made based on how likely they are to collect). Or you can plan to endure these calls from collectors over the next decade or so.

    How about put some pressure of your own on the ex to pay it.
  3. #3
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    Quote Originally Posted by cosine View Post
    You have a lot of rights, including the right to pay it. Or you could just wait until they sue you (they might, they might not ... such decisions are often made based on how likely they are to collect). Or you can plan to endure these calls from collectors over the next decade or so.

    How about put some pressure of your own on the ex to pay it.
    She moved, took a child that we have joint custody with and did not give me a new address or phone number or contact information. And I am supposed to send her a child support check. Good luck to me.
  4. #4
    cosine is offline Senior Member
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    Quote Originally Posted by confuseddad_tx View Post
    She moved, took a child that we have joint custody with and did not give me a new address or phone number or contact information. And I am supposed to send her a child support check. Good luck to me.
    File a rule 22 action in federal court over the child support. Your attorney should know what that means.
  5. #5
    BudLt is offline Junior Member
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    Talking Got a winner there!

    (prob hooked up w/ my ex!!)

    Winner-winner chichen dinner, hu!!

    Tell the debt collectors if they want there money, find the wench that took the car and ask HER for the money... (and while they are there get the address so you can stop by and grab the kid...

    Anyway, - I believe Texas statue of limitations law is 4 years for written contracts and/or open accounts (like credit cards)...

    Good luck (giggle)
  6. #6
    Zigner is offline Senior Member
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    Quote Originally Posted by BudLt View Post
    (prob hooked up w/ my ex!!)

    Winner-winner chichen dinner, hu!!

    Tell the debt collectors if they want there money, find the wench that took the car and ask HER for the money... (and while they are there get the address so you can stop by and grab the kid...

    Anyway, - I believe Texas statue of limitations law is 4 years for written contracts and/or open accounts (like credit cards)...

    Good luck (giggle)
    What an idiotic thing to say. The debt collectors have every right to seek payment from the OP.
  7. #7
    Country Living is offline Senior Member
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    Quote Originally Posted by BudLt View Post
    (prob hooked up w/ my ex!!)

    Winner-winner chichen dinner, hu!!

    Tell the debt collectors if they want there money, find the wench that took the car and ask HER for the money... (and while they are there get the address so you can stop by and grab the kid...

    Anyway, - I believe Texas statue of limitations law is 4 years for written contracts and/or open accounts (like credit cards)...

    Good luck (giggle)
    In all the years I've been on this board, I've never had someone "giggle". It won't be too long before this nimrod is banned.

    And it's "their money" not "there money".
  8. #8
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    Credit Report Inquiries???

    Live in Texas.

    Ran a credit report at lunch today and noticed that under inquiries the people (Rausch, Sturm, Israel, Enerson, and Hornik,LLC) who sent me the letter for the auto loan in default ran an inquiry on my credit. Is this legal? I mean I know creditors run inquiries all the time but I have never seen this before. It falls under the category of inquiries that do not affect credit (i.e employers, promotional offers, etc.)

    I would think if they were working for the client of GMAC then they would not need to inquire on my credit.
  9. #9
    Country Living is offline Senior Member
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    Quote Originally Posted by confuseddad_tx View Post
    Live in Texas.

    Ran a credit report at lunch today and noticed that under inquiries the people (Rausch, Sturm, Israel, Enerson, and Hornik,LLC) who sent me the letter for the auto loan in default ran an inquiry on my credit. Is this legal? I mean I know creditors run inquiries all the time but I have never seen this before. It falls under the category of inquiries that do not affect credit (i.e employers, promotional offers, etc.)

    I would think if they were working for the client of GMAC then they would not need to inquire on my credit.
    It's legal. Welcome to the world of debt collection. BTW, the statute of limitations is four years and you're within that period.

    You're going to have to pay this. The longer you wait the higher the bill is going to be. It's going to get worse if they take you to court and they get a judgment (as stated in your other thread). I was serious about you getting a part-time job that probably only pays minimum wage - you're going to have to generate income to pay this debt.

    If they offer you a deal, make sure you can stick to it (or the deal is off) and that you get everything in writing.

    This is where rock meets hard place. Yes, it bites because it appears your ex is getting off scott free.
  10. #10
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    New Twist in this Saga

    I sent a DV letter on August 21 and they received it August 27. I guess I must have ticked them off because when I an my credit report at lunch I noticed that things for this account have changed.

    The status has changed from Charge off to Contact MBR for Status.
    The date reported has changed to 09/2010.
    Date of first delinquency has changed to N/A.
    Date of last payment is blank.
    Account owner has changed from Joint Account to blank.
    The 81 month Payment history shows CO (charge off) in Sep and Oct 2008, but everything after Oct 2008 shows an asterisk (pays or paid as agreed), including Aug 2010. Not sure but looking at the credit report this account looks like it has gone from closed to open installment accounts. I will compare it to the credit report I ran 3 weeks ago when I get home.
    Does any of this look odd because if the account is paid as agreed for Aug 2010 why would credit collector be calling or sending letters.
  11. #11
    Country Living is offline Senior Member
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    Is it possible the ex is making payments?
  12. #12
    cosine is offline Senior Member
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    Quote Originally Posted by confuseddad_tx View Post
    I sent a DV letter on August 21 and they received it August 27. I guess I must have ticked them off because when I an my credit report at lunch I noticed that things for this account have changed.

    The status has changed from Charge off to Contact MBR for Status.
    The date reported has changed to 09/2010.
    Date of first delinquency has changed to N/A.
    Date of last payment is blank.
    Account owner has changed from Joint Account to blank.
    The 81 month Payment history shows CO (charge off) in Sep and Oct 2008, but everything after Oct 2008 shows an asterisk (pays or paid as agreed), including Aug 2010. Not sure but looking at the credit report this account looks like it has gone from closed to open installment accounts. I will compare it to the credit report I ran 3 weeks ago when I get home.
    Does any of this look odd because if the account is paid as agreed for Aug 2010 why would credit collector be calling or sending letters.
    Dispute this (new) tradeline with the CRA.
  13. #13
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    Which one to dispute??

    Quote Originally Posted by cosine View Post
    Dispute this (new) tradeline with the CRA.
    Do I dispute it with just 1 CRA or all 3?
  14. #14
    Bosco is offline Member
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    Quote Originally Posted by BudLt View Post
    Anyway, - I believe Texas statue of limitations law is 4 years for written contracts and/or open accounts (like credit cards)...

    Good luck (giggle)
    It is, but that doesn't matter as a repossession falls under neither. They are governed by the UCC which has a 4 year SOL.

    Confused Dad, you should check out this link. Just about everything you could ever need to deal with a repo is here.

    [url=http://whychat.5u.com/repoltr.html]Why Chat's Credit Confusion - Repossession /Deficiency Letter[/url]
  15. #15
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    No Notice Received

    Quote Originally Posted by Bosco View Post
    It is, but that doesn't matter as a repossession falls under neither. They are governed by the UCC which has a 4 year SOL.

    Confused Dad, you should check out this link. Just about everything you could ever need to deal with a repo is here.

    [url=http://whychat.5u.com/repoltr.html]Why Chat's Credit Confusion - Repossession /Deficiency Letter[/url]
    My ex wife turned the car over and I was never notified by them that the car was going to auction. I did not have a chance to bring up the payments in order to be able to try and keep the car.

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