Debt Recovery Time Limit

Summary

The statute of limitations for debt collection in Massachusetts is six years. Since its been 10 years since the loan was made, recovering the debt legally may be challenging, even with a signed agreement. Consider negotiating directly with the borrower for repayment.

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i lent someone $* 10 years ago.
Hi Lesky! I'm sorry to hear about your situation. To provide you with the best guidance, could you please let me know if you have any written agreement or proof of the loan, such as emails or a contract?
he disappeared but I think I can find him now.
Hi Lesky, thank you for providing more information. In Massachusetts, the statute of limitations for debt collection is six years. Given that it's been 10 years, your ability to legally recover the debt may be limited.
Do you have any written proof of the loan, such as emails or a contract?
yes, signed by both him and his wife.
Hi Lesky,
Thank you for confirming the written agreement. Given that the statute of limitations for debt collection in Massachusetts is six years, it may be challenging to recover the debt legally after 10 years. However, you could consider negotiating directly with the borrower.
Would you like information on how to proceed with negotiation or other options?
no, thanks.
Hi Lesky,
Thank you for your responses. If you change your mind or need further assistance with negotiation tactics or exploring other options, feel free to reach out. Have a great day!
Best,
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