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It was a New Ventures business loan that was secured by the Ontario gov. the loan was defaulted and is now owed to the province.

I've heard that if you ackowledge the loan verbally, then the SOL...

Thank you for all your help, the link was very informative.

I have a further question though. In this situation, when would a person in this position claim amnisty from the dept, after the two...

I live in Ontario.

I want to know how long the statute of limitations is on a debt to a third party who secured a loan that was defaulted on. I am Canadian and the debt was incured here in Canada.:confused: