Help?

[Amyskarma]

I hope someone out there can help. Over four years ago, I left the state of Oklahoma to find work in Colorado. My husband stayed behind to wrap up loose ends, and while still there, renewed a signature loan for $500. My husband moved with me to Colorado a couple of months later. In the more than four years that we have lived in Colorado, not once have we been notified that we were in default of the loan. (I never even knew it had been renewed)This month, the loan company called my husband's place of employment and since that time they have called our home phone several times. (We gave them the number & told them not to call at work)They are now hot on our tail to repay this loan that we have never received notice of. They admit to having no record of correspondence with us in their file up to the contact they made with us this month. I need to contact them to let them know what my intentions are, but I also want to know what my rights are. I am willing to pay a settlement amount, but I think it stinks that they have showed zero diligence in collecting this loan, and now they want payment NOW. I certainly admit fault, but do I have any leg to stand on in offering a settlement amount, etc?

 

[I AM ALWAYS LIABLE]

I hope someone out there can help. Over four years ago, I left the state of Oklahoma to find work in Colorado. My husband stayed behind to wrap up loose ends, and while still there, renewed a signature loan for $500. My husband moved with me to Colorado a couple of months later. In the more than four years that we have lived in Colorado, not once have we been notified that we were in default of the loan. (I never even knew it had been renewed)This month, the loan company called my husband's place of employment and since that time they have called our home phone several times. (We gave them the number & told them not to call at work)They are now hot on our tail to repay this loan that we have never received notice of. They admit to having no record of correspondence with us in their file up to the contact they made with us this month. I need to contact them to let them know what my intentions are, but I also want to know what my rights are. I am willing to pay a settlement amount, but I think it stinks that they have showed zero diligence in collecting this loan, and now they want payment NOW. I certainly admit fault, but do I have any leg to stand on in offering a settlement amount, etc?

My response:

This debt has nothing to do with Colorado. It has everything to do with Oklahoma. OK has a 5 year Statute of Limtitation on written debts. In the words of Judge Judy, "PAY IT !!"

IAAL