If the creditor fails to claim the creditor's rights from the debtor within three years after the debt expires, it may lose the protection of the statute of limitations. This is because the law stipulates a limitation period of three years, after which creditors may not be able to recover their debts through legal channels. However, this does not mean that the debtor can be completely exempted from repayment responsibility.

Even if the limitation of action exceeds three years, as long as the debtor does not advocate the limitation defense, the court will accept it and protect your legal rights. If it is more than three years, and you are worried that the debtor claims the limitation defense, you can try to obtain the debtor's approval evidence first, so that the limitation of action can be naturally restored.

In addition, even after the limitation period, as a creditor, you can still bring a lawsuit. But at this time, if the other party pleads on the grounds that the prescription has expired, you will lose the right to win the case.

Therefore, it is very important for creditors to claim their claims in time. If the debt cannot be recovered successfully within three years after its maturity, the limitation of action can be restored by some means, such as writing a new bill and writing down the specific situation, or extending the original iou or debt bill and submitting it to the debtor for signature or seal confirmation.

The importance of recovering the time limit of arrears;

1. Protection of creditors' rights and interests: set a recourse period for arrears to protect the legitimate rights and interests of creditors. Within the prescribed time limit for prosecution, the creditor may recover the debt from the debtor to ensure that his own interests are not harmed. Once the prosecution period is over, it may become difficult for the debtor to pursue the responsibility because of the passage of time, which will have an unfair impact on the rights and interests of creditors.

2. Social order and stability: The existence of debt recourse period is helpful to maintain the stability of social and economic order. During the prosecution, the debtor should fulfill the repayment obligation, which is helpful to promote the construction of social credit system. At the same time, the setting of the prosecution period is also helpful to avoid the negative impact of long-term accumulated debt problems on social order and reduce social contradictions and disputes.

3. Rational allocation of resources: the prosecution period can prompt creditors to deal with the problem of arrears in time and avoid the waste of judicial resources caused by long delays. Within the prescribed period of prosecution, creditors can concentrate on solving the debt problem, so as to realize the rational distribution of judicial resources. This will help to improve the efficiency of the judiciary and better serve the society and the public.