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stillme · Jan 24, 2011, 09:51 AM

In Canada, is there a statute of limitation to repay monies loaned to a friend. The friend said that since the loans to her were made between 6 and a few years ago, she doesn't have to repay me.That the statute of limitation has past,.

ballengerb1 · Jan 24, 2011, 09:55 AM

Here is an old iscussion on a situation like yours. https://www.askmehelpdesk.com/small-...an-108550.html Keep in mind it isn't how old the loan is that starts the statute time running, it starts running after the last payment. Your friend may have borrowed the money some time back but when was the last payment?

excon · Jan 24, 2011, 09:55 AM

Hello s:

Yes, there IS a statute of limitations. In Canada I think it's five years... But the SOL doesn't end the debt. It ends the time he can SUE you over the debt.. IF he owes you, he's going to owe you until he pays you.

I'd sue him in small claims court. If the statute has passed, the judge will tell you.

excon