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joneilthe2

In September of 1992, my partner and I created a corporation (O'Neil's pub Inc). It was used to open a restaurant. After opening the restaurant, I personally signed a lease in order to have a credit card terminal placed in the business. After one year on business, we decided to sell the business. My partner being an attorney took care of finding a new owner. He had told me he was going to have the lease transferred to the new owner. I never received any money from the sale and found out 2 years later that the lease went into default and that it had never been transferred. I never paid the debt because of financial reasons. Now after almost 13 years, I have been given a Subpoena for Deposition Duces Tecum in aid of Execution ( what ever that means) regarding the lease I never completed paying. The plantiff is in Massachusetts and I live in Florida where the business originally was at. Isn't there some type of limitation on an unpaid lease? Can they sue me after 13 years?

Posted: Fri Apr 29, 2005 7:57 am Subject:

I would think 6 years is the SOL as it is STRAIGHT accross the board for MASS. in all areas.

Jerry

Posted: Fri Apr 29, 2005 9:26 am Subject:

Hi joneilthe2

Welcome to the forums. It is such a pity going through your post and realizing the fact the lease was never transferred. There are times when everyone faces some sort of financial troubles in life. But on those grounds, you should not lose hope and always try to find some way out of this situation. You can consult one lawyer in your state and discuss this problem with him. He will definitely provide you a solution for it.

Or else, I can also suggest you one more thing. If you are aware of your debts and you feel like paying them off, then you can get yourself registered in this site http://www.debtconsolidationcare.com for free. Doing this one consultant in your state will get in touch with you as soon as possible and then you can make the move further. You won't have to bother yourself as you will get quality guidance which this site provides and moreover, you will start your move to make payments for which you are already behind. You need to think about it. Right?

Hoping to see you soon after you have made the positive move ahead

Regards
Roxette

Posted: Fri Apr 29, 2005 10:10 am Subject:

STATE: MASSACHUSETTS

INTEREST RATE
Legal: 6%
Judgment: 12%
Contract: 12%

STATUTE OF LIMITATIONS (IN YEARS)
Open Acct. on Contract: 6
Contract: 6
Sales (UCC) Contract: 4
Domestic Judgment: 20 (presumed satisfied after 20 years)
Foreign Judgment: 20
Contracts Under Seal: 20

GENERAL GARNISHMENT EXEMPTIONS $125 week

COLLECTION AGENCY BOND & LICENSE
Bond: $10,000 - $25,000
License: Yes
Fee: Determined by commissioner

Should be 6 years for contract, so this debt should be out of the Statute of Limitations. You do need to appear in court to point this out to the judge so they don't get a default judgment against you.

jan · Posted: Tue Oct 04, 2005 8:30 pm Subject: cosign

I cosign for a autoloan 8-28-97.on 8-2-05 i received a summons to court for 10,000.00 I do not know how to contact the person I cosigned for. what is the statue of limitation. what can i do.

Posted: Wed Oct 05, 2005 11:03 am Subject:

Hi Jan

Welcome to the forums.

Can you tell us the name of the state where the debt has taken place? It will help in determining the SOL in your state.

Not able to find the co-signor will not wipe of the existing debt for which you have been served the court papers. Therefore, you should make payment arrangements as soon as possible so that you don't have to undergo legal actions on default.

Regards
Roxette

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