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I certainly understand the situation and your concern. If they are going to sue you under a breach of contract claim, for not paying on the loan, they would have 5 years to file the lawsuit. The time would start to run, from the date of your last payment. With that being said, it would appear they are still within the time to file suit, unless this was an oral agreement, at which time the SOL would have run. You can propose to them a settlement, to resolve this and see if they would accept it, to walk away and not file suit.
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