Friday, 19 December 2014

What is the statue of limitations for a consumer loan from date of last payment to start of litigation?

Question

What is the statue of limitations for a consumer loan from date of last payment to start of litigation?



Answer

You need to look at the loan agreement, because many of them state the statute of limitations is based on a certain state's laws. Each state has it own s/l. Assuming it is Florida law that applies, it would be 5 years.



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