Legal Question in Credit and Debt Law in Louisiana

aged debt

I had a car loan back in 1997 in nov 1998 the vehicle was totalled in an accident I informed the finance company that the insurance was not sufficient to cover the entire loss,the finance company then picked up the vehicle & sold it and applied the proceeds to the deficiency balance.

now in 2004 the finance company has sold this old account to a collection agency for the remaining balance. the collection agency is located in the state of LA im located in CA is it legal to sell this account after almost 7 years and does the statute of limitations apply?

Asked on 2/11/04, 12:38 pm

1 Answer from Attorneys

Larry Rothman Larry Rothman & Associates

Re: aged debt

There is a 4 year statute of limitation. You may have a case under the Fair Debt Collection Act. Please contact our office at 714 363 0220 for review of your documentation.

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Answered on 2/12/04, 3:16 am

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