Legal Question in Credit and Debt Law in New Hampshire

Financial debt

There is a possibility of being sued by my son for alleged loan incurred over twenty years ago....We had a family business which he was a part of and we wound up going bankrupt in the late 1980's and he had available to him and put in 20 thousand to try to save the business which was unsuccessful...This was a partnership which was owned by the parents. Do I need to worry about a lawsuit as I am in Missouri and he is in New Hampshire. I am 67 and live on limited income and have no assests left.


Asked on 7/05/07, 9:55 am

1 Answer from Attorneys
Anthony DeWitt Bartimus, Frickleton Robertson & Gorny, PC

Re: Financial debt

If the debt was accrued in the 1980s, then either the 5 year or 10 year statute of limitations would apply, unless you have been making payments, or unless you have agreed to extend the statute. If you have not, if nothing has been done for more than 27 years, then the statute of limitations has expired and you cannot be sued.

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Answered on 7/05/07, 11:51 am


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