I loaned a friend going through hard times in 2002 $2000. He had a years worth of hospital bills and was going to lose his home. He made no effort to make any payments and since I felt he needed it more than I did at the time, I didn't pursue.
Now with the economy as it is and me starting a new business, I could really use the money.
I have since emailed him telling him the same and that we could work out some payment schedule. Haven't heard a word from him. Has the statute of limitations been reached? Do I have any recourse?
Occurred in 2002 in L.A. Calif. We spoke it was a loan and I wrote it on the check I gave him. He's not made any payments.

Here's a nice link I found concerning the statute of limitations for various kinds of debts.

The list is broken out by state. When I look at California, I'm seeing 4 years for a debt agreed to in writing, 2 years for an oral agreement. Now, I don't know if there's a statute not addressed on that list that would control personal debts/small debts, but so far it's not looking good at all from my non-lawyer perspective.

Now, as a practical matter I wonder if it isn't possible to file a small claims suit against him anyway, and simply hopes he doesn't show up, which would give you a judgment by default. If he does show up you could simply walk away and eat the filing fee. I haven't tried such a thing but I've heard stories about some unscrupulous debt buyers that have tried that (and apparently it sometimes works).

I'm not a lawyer and you really should see one. :) I hope this helps in some way.

Forget about filing anyway. Unless you have an agreement to pay you back even a small claims court would throw it out before it got before a judge. Even if you had an agreement to pay it would be thrown out over SOL issues.

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Originally Posted by slkoller

I loaned a friend going through hard times in 2002 $2000. He had a years worth of hospital bills and was going to lose his home. He made no effort to make any payments and since I felt he needed it more than I did at the time, I didn't pursue.
Now with the economy as it is and me starting a new business, I could really use the money.
I have since emailed him telling him the same and that we could work out some payment schedule. Haven't heard a word from him. Has the statute of limitations been reached? Do I have any recourse?
Occurred in 2002 in L.A., Calif. We spoke it was a loan and I wrote it on the check I gave him. He's not made any payments.

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Unfortunately, you are well past the SOL on this loan.

Your only option it to continue to try and contact him regarding the debt; if he makes a payment of even $0.01, that will restart the SOL and give you grounds to file.