I am curious about the extinctive prescription of loaned money.

Loaned money is subject to the system of 'extinctive prescription,' under which a right is legally extinguished if it is not exercised for a certain period.

Under the 「Civil Act」, the general period of extinctive prescription for a civil claim is ten years, and if during this period there has been no exercise of the right, such as a demand for repayment or a lawsuit, the extinctive prescription of the loaned money is completed and the right to claim is extinguished.

However, in the following cases the extinctive prescription may be interrupted or newly reckoned.

First, where the debtor has repaid even a part, an intention to perform the obligation is recognized, and the prescription may start anew.

In addition, where the debtor, through a statement such as "I will repay soon" by text message or the like, acknowledges the existence of the debt, this constitutes a ground for interrupting the prescription.

Also, where a legal procedure such as filing a lawsuit, applying for a payment order, or attaching property is carried out, the extinctive prescription of the loaned money is interrupted and is reckoned again after the procedure ends.

In other words, if there was a ground for interrupting the prescription, a claim for the loaned money is possible even after the ten-year extinctive prescription for loaned money has passed.

Accordingly, if it is unclear whether the prescription has been completed, or if there is a possibility that the other party will assert completion of the prescription, it is advisable to exercise your right promptly, for example by applying for a payment order or sending certified mail.