Legal Question in Civil Litigation in Texas

collecting on a personal loan

A friend of mine lent $8000 to her friend and husband. They wrote up an agreement for payment. The couple divorced and husband can not be located. Three years passed and my friend has not recieved a dime in payment. Is the original contract valid till the balance is collected or is there a time limit on it? Is there any legal action they can take to collect?


Asked on 10/25/01, 3:36 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: collecting on a personal loan

There is a 4-year limit for suit on a debt. The clock started when the first payment that was due went into default. A lawsuit must be filed before the day the fourth year expires, otherwise you are too late.

Either or both may be sued. However, collection against an individual in Texas is very difficult, and so the judgment may be impossible to collect.

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Answered on 11/26/01, 11:27 am


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