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    camero's Avatar
    camero Posts: 1, Reputation: 1
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    #1

    Jan 3, 2007, 12:54 AM
    New vs. Old Statute of Limitations in Ontario
    If a credit card issued in the 1990's goes into arrears sometime after Jan 1/04, does the new SOL or the old SOL in Ontario apply?

    For further clarification, as of Jan 1/04, there was debt owing on the card but it was not in arrears at that time.

    Thanks!
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Jan 12, 2007, 10:02 PM
    If it goes into arrears after Jan 1, 2004, then the NEW SOL would apply.

    Therefore, 2 years.

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