I am the primary on an auto loan (to help the other party trade in an old car for a newer one) in which the co-owner was the only person on the title from the start of the account. when the other party failed to make payments i made most of the first 6 payments after which i could no longer carry these payments for this other person who only made 1 payment within the first 6 months. hence all the payments i made from the initial contract were always late 2 weeks or more each time.
#1
The other party was not wiling to return the car or give me title so i had not legal right to 'make nice' with the finance company. after i stopped paying (based on a print out notice) the other party made a verbal agreement with the company to pass back the due dates But was still late with a few payments made later on. Eventually i ended all communitcation with the other party. at some point the repo company was put out for the car unsuccessful for about 18+ months -found about a year ago.
*At this point date the car is repo and sold at auction. a lawyer claiming to represent the finance company is ask me for the balance. however the finance company charged off the account in summer 2008. i was even sent a letter of account default in the fall of 2007.
#2 is this a legal suit/ claim statue of limitations is 3 years.?
another note is that the account was handled by at least 2 collection agencies before this lawfirm. So can the finance company have a 'lawyerl file suit after it seems it gave the case to 2 collection agencies before this and had is charged off on my account.
#3
secondly can the other party make a verbal agreement with the finance company to change payment dates without my authorization (if i am the primary?)
#4 when does the statue of limitation clock start/end in this situation?