If there is a repayment date written on the IOU, if you still have no money when it expires, you must write a new one.

Legal Analysis

From a legal perspective, an IOU is a written document indicating the relationship between creditor and debt. It is usually written and signed by the debtor, indicating that the debtor has owed the creditor the amount specified in the IOU. of debt.

Personal suggestion

The IOU can be used as the basis for borrowing money. If a legal dispute arises, you can use the IOU to protect your legitimate rights and interests. After the loan is repaid, , you can sue the borrower in court within two years and keep updating the repayment date. This can avoid legal disputes. I suggest that you make it easy to borrow and repay in your life. Only in this way will it not affect your normal life.

1. Contents of the IOU

A complete IOU should include the following: name, ID number, contact number, contact address and other information of the creditor and debtor; loan amount (this amount) foreign currency), purpose of borrowing, interest calculation, borrowing date, repayment time; penalty for default (delayed repayment), dispute handling methods, etc.

If there is a certifier or guarantor, the information of the certifier or guarantor should also be noted and signed accordingly.

The IOU should be written on a complete piece of paper, with clear handwriting and clear and specific content.

2. Notes on borrowing:

1. When borrowing money, if you know that the other party will use it for illegal activities, do not lend to the other party. According to our country's laws, this loan is not protected by law. If the other party does not repay the money, it cannot be protected through litigation.

2. For IOUs that stipulate a repayment period, you must claim your rights within two years after the expiration of the repayment period, that is, file a lawsuit in the People's Court. According to our country's laws, the statute of limitations for parties to request the People's Court to protect their civil rights is two years. If the borrower files a lawsuit with the People's Court two years after the loan expires, but there is no suspension, interruption, or extension of the statute of limitations, the borrower will lose the chance of winning the lawsuit. right.

3. As a party to private lending, the lender should require the borrower to issue an IOU in a timely manner when borrowing, and indicate the loan amount, repayment period, interest and other basic information on the IOU; At the same time, during the process of repaying the principal and interest of the loan, the borrower should require the lender to issue a receipt in a timely manner, or indicate the repayment status on the IOU and have it signed by the lender to prevent unnecessary disputes in the future. On the other hand, we need to raise awareness of the importance of IOUs. We must keep the IOUs properly to prevent them from being lost or damaged. We must also not hand over the IOUs to others at will to prevent the IOUs from being torn up by the parties and causing difficulty in producing evidence.