Legal Question in Credit and Debt Law in California

Does an IOU toll the 2 year statute on money I loaned to a friend? No money has been paid back yet. When I realized the debt was beyond the 2 year statute, I asked my friend to at least provide an IOU acknowledging that the money is owed to me, so she did, and that was dated and signed by both.


Asked on 9/17/10, 6:14 am

1 Answer from Attorneys

Technically it does not toll it, exactly, but for laypeople's purposes the answer is yes. It actually starts the clock again.

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Answered on 9/22/10, 9:34 am


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