I took out a high interest unsecured loan. I fell on hard times & was not able to keep up with payments & my last payment was in July 2016. As I understand it the statute of limitations in my state (TX) does not allow a lender to have a successful court collections case against me after July 2020 as the statute of limitations would have run out.
However, in February 2018 I was sent a threatening letter from the lender which scared me into a position where I sent an email offering to settle the debt. My request to the lender was to send me a settlement agreement Via mail, but they never did & thus nothing was never signed.
My question is did I reset the statute of limitations ‘time clock’ on my loan by sending the email with an offer although nothing was ever signed?
From the brief explanation, it appears the sol is still July 2020. Communications regarding settling shouldn't reset the clock.
As long as your not acknowledging the debt through telephone calls with the creditor, the statute of limitations will bar the creditor's attempt to collect the debt after four years.
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