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Ok, good to know! Thank you, XXXXX XXXXX have a follow up question about this case...
My main defense in this case is that my last payment to this loan was 4yrs ago and in my research the statute of limitations in NC is 3yrs...I mentioned this to the Attorney for the Plaintiff when they contacted me about this loan and she said the Statute of Limitations had been increased to 10 years because of the Seal Law? What is that?
I've never heard of a "Seal law," and I looked, but didn't see anything. It would help if he could tell you what statute number or case he's referring to, because it could be another word that just sounds similar to Seal.If this were a mortgage loan, that has a ten year statute of limitations under N.C. Gen. Stat., Section 1-47. Otherwise, Section 1-52 says three years for contracts. I'm reading the current statute.
The Original Loan was a balloon retail loan taken out on 10/31/2008 and I did a Retail Loan Modification Agreement on 06/23/2009. On the Modification Agreement that I am looking at the only place I see the word SEAL in parenthesis where I signed as a borrower. The other interesting thing on the modification agreement is that on the entire document the only signature is mine...there were no witness signatures and no grantor signatures...is that odd? These were the documents they presented as Exhibit A in their complaint against me.