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What is the statute of limitations on a payday loan in louisiana?

Kenner, LA |

My husband had a few payday loans 8 yrs ago and We are wondering if he's in the clear. He was in an accident and couldn't pay them.

Thanks!

Attorney Answers 1

Posted

The statute of limitations in LA is 10 years for written contracts, but it is only 3 years for "open-ended accounts," which are typically credit cards. I'm not sure how LA treats a payday loan, but since it's not "open-ended," but, rather, a specified amount, I'd have to say the SOL is 10 years from the date of LAST payment or agreement to pay.

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