What can reset the statute of limitations on my unsecured loan?

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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?

Attorney Answers

2
Kimberly Bishop ·
From the brief explanation, it appears the sol is still July 2020. Communications regarding settling shouldn't reset the clock.
0 upvotes
Brandon Tittle ·
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.
0 upvotes