QUESTION
What's the statue of limitations for taking someone to court for not paying back a loan?
Asked on Feb 08th, 2021 on Breach of Contract - Maryland
More details to this question:
I helped a daughter's friend (single parent with two boys) who's car was repossessed and she was behind in rent by making a car payment and getting the vehicle out of the impound, as well has getting her rent caught up. Unfortunately she has not made any payments and $4.0K is nothing to shake a stick at. I even offered to take payments, which by now the loan would've been paid off.
1 ANSWER
The Maryland statute of limitations on breach of contract is 3 yeqrs from the breach, i.e. 3 years from when she first missed a repayment. If there was no date of repayment specified in your agreement, the Court will infer a reasonable time,and you would have 3 years from that date to bring your suit.
Answered on Feb 08th, 2021 at 2:06 PM