Yahoo! Answers*

Question:

I am being sued in texas for an old credit card debt can my a lein be placed on my home?

Answers:

1) There is a 4 year statute of limitation on debt in Texas. If the debt is more than 4 years old you no longer have a legal obligation to pay. If you are being sued, you must answer the summons. Use the statute of limitation as an affirmative defense. The lawsuit should be dropped. If you are still with the statute of limitation and the creditor wins the lawsuit against you, they can put a lien on your home. That is all they can do. They cannot collect on the lien before you sell your home.

2) how old is 'old'. The statute of limitiations on debt in Texas is four years but it is four years from the date the debt was written off or the date of last activity on your credit report....so while it might be an old debt to you, it might not be as old to them if you were making payments on the debt for awhile after it was in arrears... why not go to www.annualcreditreport.com and see when the last entry was on your report so you can determine if the advice your first poster gave to you is valid for this particular situation

3) Actually, I had a friend that almost lost his house to a debt that was almost 10 years old, he lived in Killeen, TX. Yes, they put a lien on his house and he had to file chapter 13 or 7 in order to save it. The company has less than ethical standards and I wish I knew more about them so I could tell you, but I have since lost touch with my friend. Check with your attorney generals office and see if there have been any complaints filed against them. I wish you the best of luck!

4) 8infiniti8 is correct and I agree with everything she posted. karen is wrong in what she posted about the Texas collecting SOL statute. It is not when the account was written off or the DOLA of the account The collecting SOL starts on the last payment or charge that was made on the account "before" the account was charged off. § 16.004. Four-Year Limitations Period (a) A person must bring suit on the following actions not later than four years after the day the cause of action accrues: (5) breach of fiduciary duty. (c) A person must bring suit..........................not later than four years after the day that the cause of action accrues. For purposes of this subsection, the cause of action accrues on the day that the dealings in which the parties were interested together cease

5) Hi, I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It's legitimate.I came across this company on NBC News Special Edition.Check it out here: http://simurl.com/hinwoc

*The answers on this page are supplied by users of the Yahoo! Answers forum or by visitors to this site. CreditOptions does not necessarily endorse or agree with the answers provided.