Legal Question in Credit and Debt Law in New York
I loaned out $12k to a friend so she could pay the back taxes on her house . That was 10 years ago . I have tryed to contact her about repayment , with no luck . What are my opptions , anything ?
Asked on 7/19/11, 2:10 am
1 Answer from Attorneys
Michael Markowitz Michael A. Markowitz, PC
The statute of limitations for a loan is 6 years. I am assuming that you did not have a written promissory note that directed repayment less than 6 years ago. Therefore, your claim is barred by the statute of limitations.
Answered on 7/19/11, 5:27 am