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TAS Toyota Took Car After Husband Declared Bankruptcy

Discussion in 'Debt and Bankruptcy Law Forum' started by Felicity, 28 October 2015.

  1. Felicity

    Felicity Member

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    I signed surety for my husband's car in 2008 which he bought through his company or privately (not sure). He declared bankruptcy and the company in November 2009, and the car company is attempting now to retrieve this money from me. Toyota took the car back, sold it for a song and wants the difference of the car's value from me.
     
  2. James D. Ford - Solicitor

    James D. Ford - Solicitor Well-Known Member

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    Hi Felicity

    Can you please look very closely at the "surety" you signed...

    Was it called a Deed, or on the signature page was it "signed, sealed and delivered" as a Deed? or expressed as a simple agreement?

    I ask, as the difference could mean a 12 year limitation period, rather than a 6 years limitation period will be applicable.

    Kind regards
     
    Felicity likes this.
  3. Felicity

    Felicity Member

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    Don't think I have the document anymore but as memory serves me, the salesman just asked me to sign as surety per simple agreement. There were no words such as "signed, sealed and delivered" present.
     

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