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What is the limitation of actions for personal loans

What is the limitation of actions for personal loans

From time to time you or your Thai wife might have taken out the personal loan and you may have a question of what the limitation of actions for this case is. Here is the answer.

Personal loan or unsecured loan from Thai non-bank financial institutions has a limitation of actions of 5 years.

This means that the lender has to bring the case to the court within five years from last recorded repayment made to the lender. Suppose the lender agreed that you would pay them monthly installment and then you missed them once and never pay them back since then, within 5 years the lender has to bring the case to the court against you.

This referred to Case Number (Red) ผบ.276/2559 from district court of Nontaburi. Therefore, you should point out to your lawyer to look into this matter if you suspect that the debt was never paid long time ago.

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