Questions about SOL

[glennh73]

What is the name of your state?What is the name of your state? Pennsylvania


First off wondering if a Car Loan is considered a
Promissory Note or Written Contract?

From a website it states that in Pennsylvania the
Statute of Limitations on Debts is:
6yrs for Written an
4yrs for Promissory Note.



On my credit report for the car loan it says:

Equifax: balance date 06-2001

Experian: balance date 06-2001

TransUnion: balance date 04-2001

For this default car loan, if its a Promissory Note then the Statute of Limitations is up right? And that means they have to leave me alone and cant force me to pay them?

And if its a Written Contract then i have till June 2007 before its SOL.

Its just they have been threating me for a few years now and always around this time of year and ive told them countless time i cant pay back the money and they understand and say they are giving papers to judge for judgement but never seem to do as they will go few months and start cycle all over again.

Someone please fill me in here and help. Thanks everyone.

 

[JETX]

First off wondering if a Car Loan is considered a Promissory Note or Written Contract?

A car note is a written contract.

From a website it states that in Pennsylvania the Statute of Limitations on Debts is:
6yrs for Written an
4yrs for Promissory Note.

Good news. The website you referenced is out of date. PA has revised the SOL on a written contract to FOUR years.
§ 5525. Four year limitation.

The following actions and proceedings must be commenced within four years:

1. An action upon a contract, under seal or otherwise, for the sale, construction or furnishing of tangible personal property or fixtures.
2. Any action subject to 13 Pa.C.S. § 2725 (relating to statute of limitations in contracts for sale).
3. An action upon an express contract not founded upon an instrument in writing.
4. An action upon a contract implied in law, except an action subject to another limitation specified in this subchapter.
5. An action upon a judgment or decree of any court of the United States or of any state.
6. An action upon any official bond of a public official, officer or employee.
7. An action upon a negotiable or nonnegotiable bond, note or other similar instrument in writing. Where such an instrument is payable upon demand, the time within which an action on it must be commenced shall be computed from the later of either demand or any payment of principal of or interest on the instrument.
8. An action upon a contract, obligation or liability founded upon a writing not specified in paragraph (7), under seal or otherwise, except an action subject to another limitation specified in this subchapter.

For this default car loan, if its a Promissory Note then the Statute of Limitations is up right?

If your dates are correct (the last Date of Activity on the account was June 01, then the SOL would have expired in June 05. And if the SOL has expired, then they can pursue their claim against you... and you can present the expired SOL as your defense.

And that means they have to leave me alone and cant force me to pay them?

See above.