Legal Question in Credit and Debt Law in California

Personal Loan

I lent a ''friend'' $10,000.00

back in 1990 and I just now located him,what should I do ?


Asked on 4/02/07, 12:57 am

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Personal Loan

The statute of limitation on a breach of agreement is four years for a written agreement and two years for an oral agreement. You might contact collectors to assist you with attempting to convince him to voluntarily make a payment, which would restart the clock on the statute of limitation. Otherwise, it most likely is uncollectible.

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Answered on 4/02/07, 1:04 am


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