I just received a civil suit letter claiming I owe defendant $12,000 from a personal loan that was taken in August, 2003 in PA. Is this even...

Question

I just received a civil suit letter claiming I owe defendant $12,000 from a personal loan that was taken in August, 2003 in PA. Is this even legal to be pursued under statute of limitations in pa?

Answer

Probably not. In general, the statute of limitations on a contract is 4 years. There are some loans/contracts that are 20 year SOL that are known as "under seal". I am answering this question under the assumption that you haven't paid since 2003. The date that matters is the date of the last payment, NOT the date that the loan was taken.

Answer

Assuming venue is in Pennsylvania the statute of limitations on a note is four years from the last payment. It must be raised as an affirmative defense. If you do not the creditor can still sue and get a judgment.