Legal Question in Credit and Debt Law in California
personal debt owed to me
My ex-fiance owes me approximately $85,000. The debt is accruing interest every month, as I can not pay it off. Is there a statute of limitations as to when I can take him to court over the debt?
3 Answers from Attorneys
Re: personal debt owed to me
If there's something in writing, four years, otherwise two years.
Re: personal debt owed to me
It's two years from the date payment was due but was unpaid. If in writing -- and therefore easier to prove -- four years from the same date.
You can also seek interest of 10% (the legal rate if the writing does not state the percentage) from the due date if you file a lawsuit. Good luck!
Re: personal debt owed to me
The statute of limitations is 4 years from the date of the breach for a written contract and 2 years for an oral contract. Do you have any documenation to support the loan? Please call me if you have any questions.
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