Outstanding Unsecured Personal Loan

[braftree]

Is there a statute of limitations in Illinois for collecting on an unsecured personal loan? My parents loaned my daughter (their granddaughter) and her husband $3500 several years ago. Since then, they got divorced. My daughter continued to pay (and has sinced paid in full her half) on her share, and her ex-husband made a few initial payments and then stopped.

 

[Prairielaw]

Call a local lawyer or the state law library in Springfield -- you will be able to get a quick answer at no expense. It is unlikely lawyer from IL will be here & statue of limitations are tricky enough that I would want to get answer from lawyer in state.

You are probably okay, in which case you will be suing in small claims court. If you need info for small claims court in IL, let us know.

Law on, Kevin

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Kevin O'Keefe
Founder & Fearless Community Leader
Prairielaw.com "More people helping people with the law than anywhere."
Educational information only; not legal advice. No attorney-client relationship created nor is communication protected as with an attorney-client privileged communication. You must obtain your own attorney's advice.

 

[lawrat]

I am a law school graduate. What I offer is mere information, not to be construed as forming an attorney client relationship.

Try looking under state statutes at the freeadvice.com home page. If no luck, try looking it up through your local law library. You will be surprised what those librarians come up with.

Hope this helps.