The effective repayment period of a loan is generally three years. Within three years from the date when the lender knows or should know that the right has been damaged, the lender may recover the loan by bringing a lawsuit to the court. If it exceeds the time limit, the court will generally not protect it.

legal ground

Article 188 of the Civil Code

The limitation period 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.

Article 189

If the parties agree to perform the same debt by stages, the limitation period of action shall be counted from the date when the last performance period expires.