The loan owed to the bank is due in three years.
If the borrower really owes money to the bank in real life, it means that the borrower owes the bank a loan and the bank has the right to sue. However, the statute of limitations for defaulting on bank loans is three years. After this limitation, the bank can't sue. The loan is a loan contract dispute, and the statute of limitations of three years applies. In other words, if the bank fails to collect the loan within three years from the deadline, it will be considered as exceeding the limitation of action.
Don't let this happen.
But we really don't recommend this kind of behavior, because generally speaking, the limitation of action is still very long, and the bank will definitely urge the borrower to pay back the money during this period. If the borrower is unable to repay the debt or the borrower has been escaping, the bank will transfer the debt to the debt collection company, although the company will call you. If the borrower still doesn't pay back the money, the bank may take you to court for fraud. Therefore, in real life, you must not default on bank loans, because banks will certainly use legal weapons to safeguard their legitimate rights and interests. After being sued, the court will enforce you.
Moreover, defaulting on bank loans will have a negative impact on personal credit records. The bad information of this credit record will follow the client for five years. During this period, the parties can't engage in normal financial activities, and they can't go to the bank to handle loan business, which will also have a bad impact on their personal life and work.