Legal Question in Credit and Debt Law in Massachusetts
Limitation period
What is the limitation period for filing a law suit in Massachusetts? It is a contract dispute between the borrower and co-borrower for the borrower to repay the debt paid to the bank by the co-borrower after default of the principal borrower.
2 Answers from Attorneys
Re: Limitation period
Pursuant to Massachusetts General Laws, Chapter 260, Section 2, the statute of limitations on a breach of contract claim is 6 years from the date of the breach.
Re: Limitation period
If I understand your question, you are asking "how much time do you have to sue on a contractual obligation to repay a debt?"
Generally, the statute of limitations for contracts is 6 years from the time the contract is breached...
If you paid someone's debt for them, the clock is running and you should consult an attorney to determine when your time to file suit is up.
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