Legal Question in Credit and Debt Law in Illinois
Collecting debt on a promissory note.
I lent a old girlfriend money when we were dating and had her sign a promissory note. She was making payments here and there while we were dating but when the relationship ended, she refused to pay up. It�s been some years now and I�d like to collect and bring it all to an end. What�s the statute of limitations for collecting on the note? We both live in different states now than when the note was signed in Wash. state. Does that complicate things? Should I just send her to collections?
1 Answer from Attorneys
Re: Collecting debt on a promissory note.
In Illinois, the statute of limitation on most written instruments is ten years. You will probably need to sue her in the state in which she now resides, which could be a bit of a pain for you.