Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Other Law (https://www.askmehelpdesk.com/forumdisplay.php?f=190)
-   -   Statue of limitation on business debts (https://www.askmehelpdesk.com/showthread.php?t=110006)

  • Jul 14, 2007, 09:16 PM
    flyfishers
    Statue of limitation on business debts
    Is there a statue of limitation on moneys owed (debt) to a business like credit cards and mortgage line of credit in BC Canada
  • Jul 15, 2007, 07:58 AM
    excon
    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
  • Jul 15, 2007, 08:11 AM
    Fr_Chuck
    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.
  • Jul 15, 2007, 09:00 AM
    flyfishers
    Thanks a million helps a lot :)

  • All times are GMT -7. The time now is 10:03 PM.