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    sicntired's Avatar
    sicntired Posts: 8, Reputation: 1
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    #1

    Jan 15, 2008, 11:23 PM
    Statute of limitations/Canada
    As no-one seems to have an answer to how long the duration of a debt is can anyone tell me if there is a limit to the collectability of a debt in Canada?:confused: https://www.askmehelpdesk.com/images...s/confused.gif
    Wondergirl's Avatar
    Wondergirl Posts: 39,354, Reputation: 5431
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    #2

    Jan 15, 2008, 11:31 PM
    What kind of debt?
    Justice Matters's Avatar
    Justice Matters Posts: 210, Reputation: 27
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    #3

    Jan 15, 2008, 11:47 PM
    Limitation periods vary from province to province.

    In Ontario, where we practice, the limitation period for commencing legal action is generally two years from the date of default or when the debt was last acknowledged by the debtor in either writing or by payment. Certain other conditions may apply.

    Even if a limitation period has expired and the debt ceases to appear on your credit report it can technically still exist on the creditor's books. Consequently, a credit may continue to contact you about it for sometime afterwards or deny you credit in the future.
    sicntired's Avatar
    sicntired Posts: 8, Reputation: 1
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    #4

    Jan 16, 2008, 12:09 AM
    Quote Originally Posted by sicntired
    As no-one seems to have an answer to how long the duration of a debt is can anyone tell me if there is a limit to the collectability of a debt in Canada?:confused: https://www.askmehelpdesk.com/images...s/confused.gif
    I've sent an inquiry to a lawyer.I'll be sure to post his or her answer as soon as I get it as there seems to be a lot of interest and confusion.
    RickJ's Avatar
    RickJ Posts: 7,762, Reputation: 864
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    #5

    Jan 16, 2008, 04:57 AM
    Quote Originally Posted by sicntired {removed}
    You should never answer a question with a question.
    The statute of limitations depends on what type of debt it is.
    AndreSr's Avatar
    AndreSr Posts: 2, Reputation: 1
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    #6

    Mar 3, 2008, 09:49 AM
    What is the statute of limitations on moey owed to me which exceeds small claims court to file a law suit in order to collect my money
    sicntired's Avatar
    sicntired Posts: 8, Reputation: 1
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    #7

    Mar 4, 2008, 09:36 PM
    I'm beginning to believe that a debt is collect able if a person is willing to pursue the debtor no matter how much time has elapsed.I'm being harassed eight years after I became disabled, over a small debt that is now huge but 90% interest.I hadn't heard a thing in over 6 years and some agency picked the debt up for 2cents on the dollar and is becoming quite annoying.I was told the limit was seven years but have been able to find nothing to confirm this.I offered to pay the original debt but was turned down and now I have no interest in any further discussion with the idiots.
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