I have a note dated 6-13-06 for $2200.00 due within 60 days plus 3% interest, plus pay legal action to collect debt written in the note. can I still collect or is it passed the statue of limitation?
2 Answers from Attorneys
Yep, too late. It was due 8-12-06 and past due on 8-13-06, so suit needed to be brought by 8-13-12 to comply with the six-year statute of limitations. Note, however, that the statute of limitations is "tolled" (paused in its running) by certain events, such as the debtor being somehow unavailable. Otherwise, you're about a year too late.
Related Questions & Answers
If I have a note dated 2006 that this person owes me $2200.00 can I still get my... Asked 7/25/13, 3:40 pm in United States California Investment Law
If an appointed receivership expires or is annulled and then is re-appointed again... Asked 7/24/13, 7:41 am in United States California Investment Law
My Monex account representative did not follow my instructions and he did not advise... Asked 7/04/13, 5:16 am in United States California Investment Law
What does Intervivos Tst mean? My elderly aunts friend talked her into transferring... Asked 6/04/13, 3:21 pm in United States California Investment Law
I am a minority shareholder in a privately held company. It is incorporated in... Asked 5/19/13, 9:56 pm in United States California Investment Law