credit card collecton limtations

cactus1 · #1 Jun 4, 2008, 04:10 PM

what is the statute of limitations for credit card collection in ontario? how about lines of credit in two peoples names?

progunr · Jun 4, 2008, 04:14 PM

I looked up the Statute of Limitations act in Ontario.It states that after Jan 01 2004 the Statute of Limitations on debt in Ontario changed from 6 years to two years, from the last day the debt was acknowledged.

If the debt was incurred prior to the change, I believe the 6 years would still apply. If it was incurred after the change, then I believe the 2 years would be accurate.

You may want to check with an attorney in your area for certain verification.



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