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View Full Version : Credit card s.o.l. Begins when ?


steve55
Dec 22, 2006, 06:10 PM
Does the credit card statute of limitations begin running from the last payment made or from the right off date.opinions seem to differ and I can't find any law or statue to clarify this.

Help,
steve55

CaptainForest
Dec 22, 2006, 06:18 PM
I guess technically it would be how the statue is worded, plus case law.

For example:

In Ontario, they have two years to sue from when they first notice you are in default.

So if you miss a payment, they know you are in default and the 2 years period should start from there.