Legal analysis: (1) The statute of limitations for private loans with regular repayment is 3 years from the date of the expiration of the repayment period, and the right to ask the people's court for protection will be lost after the expiration. (2) For private lending with regular repayment, if the debtor fails to perform the debt after the agreed time limit expires and issues a debt bill with no repayment date, it will be deemed that the limitation of action is interrupted, and the limitation of action will be recalculated from the second day after receiving the debt bill (3 years). (3) Non-regular repayment of private loans, that is, private loans with no repayment date, is not limited by the statute of limitations, but is limited by the maximum protection period of 20 years. (4) For irregular private lending, if the borrower explicitly refuses to repay (of course, the borrower will prove that he has explicitly refused to repay), the three-year statute of limitations shall apply from the date when the borrower explicitly refuses to repay. (5) For private lending that exceeds the limitation of action, if both parties reach a repayment agreement on the original debt, or the borrower signs the dunning notice, it will be regarded as a reaffirmation of the original debt, and the relationship between creditor's rights and debts is protected by law.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 675 The borrower shall repay the loan within the agreed time limit. If the term of the loan is not agreed or clearly agreed, and cannot be determined according to the provisions of Article 510 of this Law, the borrower may return it at any time; The lender may urge the borrower to return it within a reasonable period of time.

Article 510 After the contract came into effect, the parties did not stipulate or clearly stipulated the quality, price or remuneration, place of performance, etc. They can supplement the agreement; If a supplementary agreement cannot be reached, it shall be determined in accordance with the relevant provisions of the contract or trading habits.