How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ray Your Own Question
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 42865
Experience:  Texas Attorney for 30 years dealing in real estate
Type Your Real Estate Law Question Here...
Ray is online now
A new question is answered every 9 seconds

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: 9 months ago.
Category: Real Estate Law
Expert:  Ray replied 9 months 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 9 months ago.

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

Expert:  Ray replied 9 months 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.

If you can positive rate 5 stars it is much appreciated.