HI, my husband has a few debts with ICBC, and I have a few questions regarding the statue of limitations for ICBC.
1. how long are they allowed to keep the debt?
2. do they have a limitation?
3. is the time from from the date that you received the tiket/fines or from the time that its due?
4. if what is owed is already past 6-7 years and they havent "gotten rid of the debt" are they allowed keep the debt there until you pay?

My husband hasnt made any payments, but has tried to work out a deal with them to get the debts reduced, which they refused to do.

any help would be greatly appreciated.
thanks
cara

Lowtax4eva

Hi, to answer your questions, after 6-7 years, depends where in canada, the statute of limitations for debt has expired. This is counted from the date of your last payment. After this time has expired they can no longer sue you but you will always owe them the money unless you declare bankruptcy, the debt never "disapears" from their books.

So they can keep calling him as long as they want to and can pass the debt to a collection agency once they feel they wont get paid directly, once it goes to a collection agency they may be willing to accept a partial settlement.

tatidawn

hi
thank you for the answer, but im asking specifically for ICBC., which is in BC, Canada. A friend of mine's boyfriend had his debt "removed", and was told that he didnt owe them anymore but that he should still pay them the money in "good faith". I just need to know more specifically whether its 6-7 years for ICBC.