Consumer Law, Warranties 20 yr old signed promissary note to repay $ arrives

[ATeich]

When immigrating to the US 20 years ago, I signed a promisary note ( aong with alot of other documents) from the IOM (international office of migration) to repay the money given to me and my family as assistance with the move. They claim that tryed to contact me in the past but they could didnt have correct address etc... but I never heard of this before.
The contract states that I should have begun repaying this amount at most six months from signing the contract, in installments, for a duration of at most 48 months. Its been 20 years and this is the first I hear of this. Am I still responsible? Do promisary notes expire?
Thanks
A

 

[dee_dub]

The contract states that I should have begun repaying this amount at most six months from signing the contract, in installments, for a duration of at most 48 months. Its been 20 years and this is the first I hear of this.

You mean, the first you heard of it other than when you signed the contract.

Am I still responsible? Do promisary notes expire?

Yes you are, no they do not.

If you do not pay and they try to sue you, you might be able to escape by pleading the statute of limitations. But I have my doubts - since you haven't been paying, you have been in continual breach, so the limitation period may have tolled (i.e. it didn't begin to run).

How much are they seeking, and have they proposed any repayment plan?

 

[ATeich]

Thanks for your help and quick response.

The amount is about $2500 for 6 people, of which one is deceased. They have proposed a repayment schedule.. I believe about $235 a month but after speaking with them and explaining that I am currently disabled and unable to work they lowered the monthly amount to $35 a month. They are also willing to subtract the amount loaned for the deceased individual once I provide a death certificate.
It makes me think twice about the legitimacy of thier claim since they are so willing to compromise with me as long as they get something. There are several other inconsistancies when commparing the contract and the circumstances at hand. For instance, the contract states that they have the right to collect interest if I dont start to repay this "loan" but no interest has been charged.
I dont recall signing this contract. Although the signature is mine on the promisary note, it was amongst dozens of papers given to me to sign when I just arrived to the US.

 

[jharris352]

I have a problem with you paying back money that was not loaned to you. If I understand your post correctly there was $2500 owed by 6 people. That means you only owe $411. You don't owe the entire $2500 because it was borne by 6 people. Now I understand the concept of "jointly and severally" but you don't know if this has been repaid by someone else already.

I would force them to sue before I paid them.