Can I sue if I owe you more than 3 years?

You can sue if you owe money for more than three years. The limitation of action for debt disputes is three years as stipulated by law, counting from the agreed repayment date or the date when creditors collect debts.

As long as the IOU is legal and valid at the time of conclusion and stipulates the rights and obligations of both parties, no matter how many years have passed, the IOU will not become invalid. Only after the limitation of action has passed can the debtor raise the defense of non-performance.

Legal basis:

According to Article 188 of the Civil Law of People's Republic of China (PRC), the limitation of action for requesting protection of civil rights from the people's court is three years. Where there are other provisions in the law, those provisions shall prevail.

The limitation period of action shall be counted from the date when the creditor knows or should know that the right is damaged and the debtor knows it. Where there are other provisions in the law, those provisions shall prevail.

However, the people's court shall not protect the rights that have been damaged for more than 20 years. Under special circumstances, the people's court may decide to extend the time according to the application of the obligee.

Extended data

An IOU is a written application written by an individual or unit to the relevant unit or individual when it owes money or things. White stripes are also called "IOUs" today. White stripes are also common in daily life. They are written evidence that one party owes money to the other, and they are an application style of credentials. When the agreed text such as IOUs, IOUs, contracts, etc. What we write is legally binding and they will protect our own interests.