How long do you have to sue for a breach of an agreement to pay back a loan?

Question Details:

If you loan money to someone and that person has not paid the money back after a certain time frame, what is the time frame that I can sue the person for recovery? Does it matter if the agreement is verbal or in writing?

Peter Grain / Peter S Grain Esq Answered 5 years ago This attorney is licensed in Illinois View Attorney Profile Important Notice