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Does the state of IL have a statute of limitations for creditor being able to collect on a payday loan

what is the sol in IL on payday loan collections. I have been served fora debt that is over 5 1/2 yrs old.

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Attorney answers (1)

Reputation Level 6
Your question lacks many details to fully answer it but the statute of limitations in Illinois on an oral agreement is five years and a written agreement is ten years.
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