View Full Version : Statue of limitation on business debts
flyfishers
Jul 14, 2007, 09:16 PM
Is there a statue of limitation on moneys owed (debt) to a business like credit cards and mortgage line of credit in BC Canada
excon
Jul 15, 2007, 07:58 AM
Hello fly:
There is NO statute of limitations on debt. If you owe it, you owe it forever. There is, however, a time limit beyond which you can't be sued. You didn't aks how long it is, and I don't know anyway. One of our Canadian experts will be along shortly.
excon
Fr_Chuck
Jul 15, 2007, 08:11 AM
Yes on Credit cards there are, mortgage lines of credit, are just that, if you don't pay it is tied to your home, and they can keep a lien on your home forever until it is sold.
flyfishers
Jul 15, 2007, 09:00 AM
Thanks a million helps a lot :)