During the past five years I loaned to a good friend $9500.00 in form of Canadian bank draft and over $20,000. in cash over the same period. This friend always promises to pay me back. to date only up to $2000.00 has been paid back. Is there a legal time limit in Canada for me to collect the rest of my money. I overheard someone else say that this friend has no intention of paying me back as a time limit has passed, and that I cant prove anything. Help, what are my rights, did I screw myself here.
Many Thanks
Stillme

stevetcg

If you cannot prove anything you screwed yourself before this even started.

ScottGem

I think Canada has a 4 year Statute of Limitations on contractual debt. But that's from last activity. I would file suit immediately.