Results 1 to 2 of 2
  1. #1
    Join Date
    Jul 2009
    Posts
    1

    Default California Personal Loan Statute of Limitations

    My question involves small claims court in the state of:California.
    I made a $5,500.00 personal loan to a friend. We both signed a one year payment agreement.
    Friend defaulted on loan as he could not pay. So, second loan extention was made for a 6 month term. Still no payment and states unable to pay again.
    When asked to sign another loan agreement for extention he felt it wasn't necessary. Stated he would pay me back.
    I expressed concern about his defaulting on the loan and told him I thought the statute of limitations for small claims court in California was 4 years for a personal loan.
    He stated ours was not a personal loan because it was between friends. He says he knows all about contracts and statue of limitations because he is a contractor and home inspector.
    Am I wrong?
    If not, when does the statute of limitations begin? The beginning of the original loan, or the loan extention? Or would the time begin at the tme the loan(s) were to be paid in full by the friend?
    Please clear up my confusion. Thanks.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    73,187

    Default Re: California Personal Loan Statute of Limitations

    What does he believe it is, if not a personal loan?

    Small claims court awaits.

    1. Sponsored Links
       

Similar Threads

  1. Replies: 1
    Last Post: 03-22-2011, 08:40 PM
  2. Collection Lawsuits: Statute of Limitations for a Personal Loan
    By reseda2009 in forum Debts and Collections
    Replies: 5
    Last Post: 06-17-2009, 11:40 AM
  3. Collection Lawsuits: Statute of Limitations for a Personal Loan in Texas
    By msv in forum Debts and Collections
    Replies: 3
    Last Post: 08-07-2008, 06:53 PM
  4. Other Injuries: Statute of Limitations for Personal Injury
    By skimark in forum Accidents and Injuries
    Replies: 3
    Last Post: 01-16-2008, 03:28 AM
  5. Defenses: Statute of Limitations for a Personal Loan
    By cymp027 in forum Civil Procedure
    Replies: 7
    Last Post: 11-29-2006, 07:12 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
 
Forum Sponsor
Find A Lawyer - Free, confidential referrals.
Legal Forms - Buy easy-to-use legal forms.




Untitled Document