I leased a ford vehicle about 12 years ago and had some financial issues and had to turn it back in….long story short I have had money taken from my bank account recently and also made payment arrangements to pay an amount each month of $100…are ther any statue of limitations laws that I should be aware of…do I have to keep paying this since it has been so long? Thanks….
I’m not sure how the fact that you have recently acknowledged the debt has impacted you moving forward but the statute of limitations is the limit at which you could be sued for an old debt and it sounds like you skipped right over than and agreed to a payment.
Just because a debt is old does not mean you don’t have to pay it and they can’t still try to collect from you. It just means they can’t sue you.
Best advice, go talk to a local attorney licensed in your state.
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.