Is there a time limit to file a lawsuit?

As a benefit, my ex-employer paid me a sum of $1500 towards my college education costs, but made me sign a contract saying I would have to pay it back if I left the company within 1-yr of completing the course. I signed the contract in September 2005, and was paid after the courses were completed in December 2005. I left the company in May 2006, therefore they asked for their $1500 back. I ended up paying it off in full by August 2007.

This company does not have it's act together and I'm concerned they might "forget" I paid them in full. Can I throw away my paperwork related to this issue or do I need to hold on to it forever? If for some reason they wanted to take me to court, wouldn't they have to do it within 1 year of December 2005, which would be December 2006? Wisconsin laws apply.

I'm just looking to clean out my legal paperwork bin and I'd like to know if I can consider this issue done and over with.

I'd say keep it. You never know what they gonna do. And this is your only evidence.

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