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Statute of Limitations on a loan

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Lindseynfla

Guest
What is the name of your state? Florida

I'm so glad I found this forum and will try to make my question as brief as possible. Six years ago I loaned a friend $1,500.00. He made no attempt to pay it back. I am well aware that the SOL has run out however; in the past 2 months he reacknowledged the loan, made two payments and promised in an email that he would pay the debt in full ( monthly payments of $100) He has now stopped paying again and will not answer any of my attempts at communication.
I have heard that by making payments and admitting to the loan that that makes the Statute of Limitations null and void, or start running again (forgive my ignorance of legal terminology)
Is this true?
I have the two checks that he sent, still have the email admitting the debt and the original check I sent years ago with loan clearly written on it.
What are my options, if any?
Thanks in advance for any help!
 


HomeGuru

Senior Member
Lindseynfla said:
What is the name of your state? Florida

I'm so glad I found this forum and will try to make my question as brief as possible. Six years ago I loaned a friend $1,500.00. He made no attempt to pay it back. I am well aware that the SOL has run out however; in the past 2 months he reacknowledged the loan, made two payments and promised in an email that he would pay the debt in full ( monthly payments of $100) He has now stopped paying again and will not answer any of my attempts at communication.
I have heard that by making payments and admitting to the loan that that makes the Statute of Limitations null and void, or start running again (forgive my ignorance of legal terminology)
Is this true?
I have the two checks that he sent, still have the email admitting the debt and the original check I sent years ago with loan clearly written on it.
What are my options, if any?
Thanks in advance for any help!
**A: why have you been just farting around and not filed to collect in small claims court.
 

JETX

Senior Member
"I have heard that by making payments and admitting to the loan that that makes the Statute of Limitations null and void, or start running again (forgive my ignorance of legal terminology)
Is this true?"
*** Yes. By reaffirming the note and making payments, he has reset the 'SOL clock'.

"What are my options, if any?"
*** Your options are to continue demanding payment (and not getting it) or filing a lawsuit to (hopefully) get a judgment against him and use the judgment to try to collect.

"Thanks in advance for any help!"
*** You're welcome.
 

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