View Full Version : Statute of Limitations on Credit Card Debt
chilispazz
Dec 11, 2012, 05:00 PM
What is the limitations on a store credit card from the 90s
tickle
Dec 11, 2012, 05:04 PM
What country do you live in?
Alty
Dec 11, 2012, 05:05 PM
You location, and the action they've taken since the debt, is important.
chilispazz
Dec 11, 2012, 05:10 PM
what country do you live in?
Ontario ,Canada
tickle
Dec 11, 2012, 05:13 PM
Statute of limitations for unsecured credit card debt is 6 years in Ontario, Canada, so if you are being chased by collection agencies, don't talk to them, don't contact them. Debt is sold for so many cents on the dollar all the way down the line, and the original source is lost after nine years. They just take a chance to get paid.
Alty
Dec 11, 2012, 05:16 PM
I agree with Tickle, but that does beg the question. Have you agreed to anything after the statute of limitations?
chilispazz
Dec 11, 2012, 05:16 PM
You location, and the action they've taken since the debt, is important.
(Ontario ,Canada )They haven't done anything but call for the past 5 years... the debt collecting people
tickle
Dec 11, 2012, 05:20 PM
Then you don't call them back; once they get you, and they co-ource you into getting in touch with them, and even paying a small part, the statute starts all over again and you are screwed into paying them forever. Understand ?
chilispazz
Dec 11, 2012, 05:21 PM
I agree with Tickle, but that does beg the question. Have you agreed to anything after the statute of limitations?
No.. I haven't talk to them,Ijust let it go to voicemail
chilispazz
Dec 11, 2012, 05:22 PM
Then you dont call them back; once they get you, and they co-ource you into getting in touch with them, and even paying a small part, the statute starts all over again and you are screwed into paying them forever. Understand ?
Thank you.. I understand
Alty
Dec 11, 2012, 05:32 PM
Thank you..I understand
If you answer the calls, and make a new agreement, it's a new contract, and the statue of limitations is no longer valid. So Tickles advice is dead on. Don't answer the phone. But, don't think they'll give up. Be prepared to receive these calls for many many years.