VERY old debt

[jerseyjewell]

I had a voluntary repo on a truck 10 years ago while in Texas (I am in New Jersey now). The other person with me was not on the final contract.
I had forgotten the whole thing when I got a phone call from a law firm saying a judgement was being seeked against me. They said 10,000 dollars. That would have to be the entire balance.

I was wondering:
Dont they have to deduct the amount they got when they sold it?
Can they still file after ten years?

Please help!
Jersey Jewell

 

[Michael Wechsler]

There may be a statute of limitations issue with regard to the old debt and it seems likely that there is. You may wish to discuss the case with an attorney and show him all the facts. A small investment could give you peace of mind and put the entire episode to rest easily...

Originally posted by jerseyjewell
I had a voluntary repo on a truck 10 years ago while in Texas (I am in New Jersey now). The other person with me was not on the final contract.
I had forgotten the whole thing when I got a phone call from a law firm saying a judgement was being seeked against me. They said 10,000 dollars. That would have to be the entire balance.

I was wondering:
Dont they have to deduct the amount they got when they sold it?
Can they still file after ten years?

Please help!
Jersey Jewell

 

[jerseyjewell]

Thank you for the reply. The statute of limitations does seem to apply. Texas has either 4 or 6 (I forget now) years on a written contract. I sent a letter concerning this to the collection agency, and they have made no contact since that date.

Thank you!
Jersey Jewell