How many years is the prosecution period for private loans?

The statute of limitations for private lending is three years. Chinese law stipulates that the statute of limitations for petitioning the People's Court for protection of civil rights is three years. If the law provides otherwise, such provisions shall prevail. The statute of limitations shall be calculated from the date when the obligee knew or should have known that the right had been damaged and the obligor knew. If the law provides otherwise, such provisions shall prevail. However, if it has been more than 20 years since the right was damaged, the People's Court will not grant protection; in special circumstances, the People's Court may decide to extend the right based on the application of the right holder.

1. The statute of limitations for private lending cases

According to legal provisions, the statute of limitations for private lending cases is three years, and this three-year statute of limitations can be interrupted. When encountering private loan disputes, the parties should focus on understanding the timing of prosecution:

1. If the loan period is agreed upon, the lawsuit will be filed within three years from the expiration date of the loan period;

2. If the loan period is not agreed upon, the statute of limitations shall be calculated from the date when the lender knew or should have known that the borrower refused to perform the repayment obligation;

3. If the statute of limitations is interrupted within three years, the statute of limitations shall be calculated from the date of interruption. The statute of limitations will be recalculated from now on. The main circumstances that interrupt the statute of limitations include: requiring the debtor to perform, the debtor agreeing to perform, reaching an agreement, etc.;

4. After three years of the statute of limitations, can the lender sue the borrower. You can sue, but if the borrower files a defense and the court finds that there is no interruption of the statute of limitations, the court will rule to dismiss the lender's claim.

2. What are the conditions for interrupting the statute of limitations for private lending?

1. Sign a repayment agreement or supplementary agreement afterwards, but note that if a guarantor is involved, the guarantor should be required to The agreement must be confirmed, otherwise the guarantor will be exempted from guarantee liability.

2. Ask the other party to sign a letter of commitment, but note that the content of the letter of commitment should comply with legal regulations. If the obligor makes commitments or actions such as installment performance, partial performance, provision of guarantee, request for extension of performance, formulation of debt repayment plan, etc., it shall be deemed as "agreeing to perform the obligation" and shall have the legal effect of interrupting the statute of limitations.

3. Send a reminder letter and other documents to the borrower in person, but be careful to keep the receipt signed by the other party. One party directly delivers a document asserting rights to the other party, and the other party signs or seals the document or, although it does not sign or seal it, can prove in other ways that the document has reached the other party.

4. Send an email or text message to the other party, but be sure to confirm the other party’s identity and that the other party has received it and retained the evidence. If one party asserts its rights by sending a letter or data message, and the letter or data message reaches or should reach the other party, the statute of limitations shall be deemed to have been interrupted.

5. Publish announcements in the media, but be careful to choose media of the corresponding level. If the whereabouts of one of the parties are unknown, the other party shall publish an announcement containing the content of claiming rights in an influential media at the national level or at the provincial level where the whereabouts of the unaccounted party is domiciled.

6. Request protection of rights to social organizations such as the People’s Mediation Committee, Community Neighborhood Committee, Women’s Federation, etc., but pay attention to the content of the appeal and keep written records.

7. Report the case or complaint to the judicial authority, but be sure to issue a receipt or legal document from the judicial authority. If the right holder reports a case or makes a complaint to the public security organ, the People's Procuratorate, or the People's Court and requests protection of his or her civil rights, the statute of limitations shall be suspended from the date of the report or complaint. 8. Submit the complaint to the court, but be sure to keep the receipt of submission and the notice of case acceptance. According to the law, if a complaint or oral complaint is submitted to the People's Court, the statute of limitations shall be suspended from the date of submission of the complaint or oral complaint.

Legal basis: Article 188 of the "People's Republic of China and Civil Code" The statute of limitations for requesting the People's Court to protect civil rights is three years. If the law provides otherwise, such provisions shall prevail.

The statute of limitations shall be calculated from the date when the obligee knows or should know that the right has been damaged and the obligor knows. If the law provides otherwise, such provisions shall prevail. However, if it has been more than twenty years since the right was damaged, the People's Court will not grant protection. If there are special circumstances, the People's Court may decide to extend the time based on the application of the right holder.