Collect a Debt

Do I have a legal case? Hello: I lent someone 53K in 2005. A promissory note was signed at the time of the loan. There has been no repayment made. Do I have any legal recourse to try to obtain repayment from this person?

RI has a ten year limitation on the collection of debt from the time of the breach. You may want to retain an attorney as soon as possible to initiate litigation. Your rights may depend on the terms in the note and the timing of the breach.