1. If the repayment date is agreed, the prosecution period at this time is 2 years from the repayment date.
2. If there is no agreed repayment date, the litigation period shall be 2 years when the obligee claims the right, but the longest period shall not exceed 20 years.
For the arrears contract with the repayment period indicated, according to the General Principles of the Civil Law, the limitation of action is calculated as two years from the date when the repayment period is indicated. If there is no repayment period, the lender may demand repayment from the borrower at any time, and the limitation of action shall be counted from the time when the creditor claims the right.
Within two years, if the obligee claims his rights again, the provision of interruption of limitation of action shall apply. Unless the lender does not claim rights within 20 years after the borrower issues the arrears contract, it will be beyond the statutory limitation.
Extended data:
Precautions for personal loans:
1. Reasonable choice of loan amount and term: the loan amount depends on the individual's capital demand. Under this premise, I need to consider my economic repayment ability to avoid excessive repayment amount and pressure.
2. Loan Term Generally, the longer the loan term, the higher the interest rate and the greater the interest burden of the borrower. Generally, the car loan is 3-5 years, and the housing loan 10-30 years. The current short-term loan interest rate is divided into two grades: half a year and one year, and it is stipulated that the half-year grade interest rate shall be implemented within half a year of the loan term, and the one-year grade interest rate shall be implemented for more than half a year and less than one year.
3. If the loan term of the fund demander is 8 months, although it is only 2 months beyond the half-year time point, according to the current loan interest-bearing regulations, only one-year loan interest rate can be implemented, which invisibly increases the interest burden of the borrower.
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