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When time runs out on an outstanding loan

Article

I loaned $4,000 to an employee and she never repaid me. Is there any statute of limitation that indicates how long I have to take her to court to recover what she owes me?

I loaned $4,000 to an employee and she never repaid me. Is there any statute of limitation that indicates how long I have to take her to court to recover what she owes me?

Yes. Each state sets a statute of limitation for breach of contract claims. Your attorney can tell you whether you still have time to file a claim. But even if the clock hasn't yet run out, you're unlikely to win your case without written proof, such as a dated promissory note.

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