Hi, I have lived in Canada for 20 years but took my Canadian husband and kids back home to UK in 2000 to start a business, We left end after 2 years end of 2002 leaving a debt of 5.000 behind. Obviously the business didnt work and to be honest we forgot about the bank loan because of all the other issues we were facing.

Now May 2008 a creditor has bought the loan from the UK Bank and is starting to hassle me quite a bit, What do I do? Last Payment was made end of July 2002 when we left so by this July 2008 it will have been 6 years.....Has the statute of Limitations passed? or Can they sue me??

I would like to know as I dont want to screw my good credit that I have right now by starting to make payments or even by paying it off as right now I have built a great credit here in Canada, it took me a long time, but my credit is great.....what do I do???

I have checked my credit report and right now this collections agency has put 2 soft inquiries on my credit report but nothing else....does that mean they know something I dont? are they not allowed to put it on because its already been on in the Uk???

Any facts would be appreciated!