Legal Question in Civil Litigation in Texas

breach of contract statute of limitations

Is there a statute of limitations in Texas for filing a claim against a person who has only paid back 1/3 of a loan I made to them 9 months ago? We have a notarized contract. The loan was supposed to be paid in full 3 months ago.

I sent a statement of the balance due and a letter to the debtor asking for more payments about 3 months ago, but I didn't make a copy, and I have not received a reply.

The contract states that the debtor guarantees the loan with their share of the equity in their home, and that the last payment shall consist of all the accrued interest (10%) on the loan since the first payment due date.

Please tell me how much time I have to take legal action, and how I should proceed.


Asked on 8/01/01, 5:27 pm

2 Answers from Attorneys
Donovan Hutchins Mason, Coplen, Shuchart, Hutchins & Banks, P.C.

Re: breach of contract statute of limitations

Statute of Limitations is four years from the date of default on a loan. If you have a mortgage loan and a valid lien on the residence of the debtor, you can sue and forclose on the real estate. Call me at 713-785-5595.

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Answered on 8/02/01, 9:08 pm
Roger Evans Mathis & Donheiser

Re: breach of contract statute of limitations

You generally have four years from the breach of the contract, or the time that the debtor failed to meet his obligations. Thus, you have plenty of time to file suit or to pursue collection before doing so. Best wishes.

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Answered on 8/01/01, 7:13 pm


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