Statute of Limitations for Small Claims Court
My question involves court procedures for the state of: Florida.
My husband loaned $5000 to a "friend" I pushed him to get an agreement in writing indicating the amount of the loan, monthly payment amount and the date by which the loan was to be repaid. Despite promises that he would pay us back I insisted on getting it in writing. At the time of the loan the "friend" was supposed to start making monthly payments so that the loan would be paid off within a year. A few months went by and he didn't make payments. We let it slide at first b/c he was having some money troubles but were always very upfront about the fact we expected him to repay us. But after 8 monthts of not paying we had to say something, and of course they had an arguement and the "friend" basically refused to pay my husband back. I got involved and he made a few payments then stopped. The loan was due a year ago May. I/we were diligent in follow up with him, but we haven't seen any additional payments.
It has been almost two years since they entered into this agreement. We want to sue him in small claims court. I want to make sure we are within SOL, and thoughts on our chances of getting a judgement in our favor. He still owes us around $4200.
Re: Statute of Limitations for Small Claims Court
From what you say you're well within the statute of limitations.
I can't speculate as to your odds as I've not seen the note, nor do I know what he will say in response to your claims. For example, he may try to claim that he paid you back.
Re: Statute of Limitations for Small Claims Court
Thanks...He has clearly stated on numerous occasions to us and to mutual friends that he knows he owes us the money. So, wish me luck!
Re: Statute of Limitations for Small Claims Court
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tdalaw
Thanks...He has clearly stated on numerous occasions to us and to mutual friends that he knows he owes us the money. So, wish me luck!
The SOL to enforce a written instrument/contract is 5 years.
http://www.flsenate.gov/Statutes/ind...n%2011#0095.11
Just as a side note, the venue is not important, it is the SOL. You could still sue in regular/municipal court, as the time limit has not expired. The only issue there would be a person could petition it to be heard in SC, due to the low amount, but that is not to mean they would and or it would be successful.