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Ray
Ray, Lawyer
Category: Real Estate Law
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Experience:  Texas Attorney for 30 years dealing in real estate
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In the State of, what is the statute of limitations for

Customer Question

In the State of Washington, what is the statute of limitations for collecting on a bank loan?
Submitted: 1 month ago.
Category: Real Estate Law
Expert:  Ray replied 1 month ago.

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question, conduct and prepare your response.

Expert:  Loren replied 1 month ago.

I am Loren, a licensed attorney, and my goal is to answer your question and provide you excellent service.

Expert:  Ray replied 1 month ago.

The RCW sets a six-year statute of limitation for written contracts or written agreements. In general, the creditor must file a lawsuit to recover for money owed under a promissory note within six years after the debtor stops paying on the debt or otherwise breaches his agreement.

So it is 6 years from the date of default.After that the SOL is a defense to any collection suit.

I appreciate the chance to help you today.Thanks again.

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