Legal Question in Credit and Debt Law in Pennsylvania
If a family member loaned you money how long do they have to take you to court to reclaim the money owed?
Asked on 1/23/20, 12:48 pm
1 Answer from Attorneys
Matthew Nahrgang
Nahrgang & Associates, P.C.
There is a 4 year statute of limitations on contract actions, which this is. Contracts can be oral or written and I assume this was oral, but either way it is 4 years from either the first date the repayment was due or the last payment made, whichever is later.
I trust this answers your question but do not hesitate to call or email on a free initial basis.
Very truly yours,
Matthew R. Nahrgang, Esquire
35 Evansburg Road
Collegeville, PA 19426
(610) 489-3041 ph
(610) 489-3042 fax
www.nahrganglaw.com
Answered on 1/23/20, 12:58 pm