Tuesday, 3 June 2014

What is the statute of limitations on debt collections from loans on a person and what is the statute of limitations on debt collections fro...

Question

What is the statute of limitations on debt collections from loans on a person and what is the statute of limitations on debt collections from investors on a person?



Answer

The statute of limitations is four years from the breach for a loan based on a written agreement, and two years from the breach for a loan based on an oral agreement.



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