My uncle loaned a person approx. $100k over a period of six years commencing around 1996. The aggreements I have in hand covered principle, interest with dates to be paid in full. Payments has not been received to date, my uncle and wife have passed
During 2004 & 2006. They lived in Colorado when the agreements were signed.
I'm doing this research on behalf of the daughters of the deceased.

The questions are: 1) Does the stature of limitations, either federal and/or state, preclude me from attempting to collect these monies? 2) If I can pursue collection what is my next step and the possibility of making the collection?

There is no Federal Statute - Colorado on written loans is 3 years.

The statute has expired. Death does not change that - unfortunately.

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Originally Posted by JudyKayTee

There is no Federal Statute - Colorado on written loans is 3 years.

The statute has expired. Death does not change that - unfortunately.

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Does the borrower also live in Colorado? If not, it might be possible to sue him or her in the place where he/ she is located. Or where the decedents resided, if that's not also Colorado. But the possibility of a 7-9 year SOL is a longshot.

Has your uncle's estate been probated? It would have been up to the executor of the estate to pursue any funds owed to the estate. If the estate has been closed that would end any attempt to collect.