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stillme
Oct 30, 2009, 01:17 PM
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 can't prove anything. Help, what are my rights, did I screw myself here.
Many Thanks:confused:
Stillme

stevetcg
Oct 31, 2009, 04:52 AM
If you cannot prove anything you screwed yourself before this even started.

ScottGem
Oct 31, 2009, 05:35 AM
I think Canada has a 4 year Statute of Limitations on contractual debt. But that's from last activity. I would file suit immediately.