Hello to all who read...

I am from Ontario, Canada and have just received a letter stating that I have an outstanding payment.

Personally, I do not mind the payment of the debt, but the debt was made over 8 years ago and I don't really remember much of it.

My questions are:

Do the statue of limitations help me not to have to pay it back? I know there is something stating that after 2 years - 6 years.

If the debt gets tossed out of court and I am not longer accountable for it, does it still hurt my credit reports and history?

I can use any helpful information that I can get.

Thank You,

After 8 years the debt would be passed the statute of limitations, I think in Ontario the statute is 7 years, unless you made payments towards this since that time.

Every time you make a payment or payment arrangement by phone, the statute begins again... for instance if you made a payment in 2004 or something than it has only been 4 years.