I need some answers please... I received a call from a collection agency about a store credit card balance owing from 2001 for $2500. It is now 2008... do I still owe? Can they collect this from me? How long will this information show in my credit report? Thank you.

More information for you...
I live in Ontario

Quote:

---

Originally Posted by mradec

I need some answers please... I recieved a call from a collection agency about a store credit card balance owing from 2001 for $2500. It is now 2008... do I still owe? Can they collect this from me? how long will this information show in my credit report? Thank you.

More information for you...
I live in Ontario

---

What State?

Quote:

---

Originally Posted by mradec

I need some answers please... I recieved a call from a collection agency about a store credit card balance owing from 2001 for $2500. It is now 2008... do I still owe? Can they collect this from me? how long will this information show in my credit report? Thank you.

More information for you...
I live in Ontario

---

In Ontario the Statute of Limitation (the time in which they can collect) is 6 years on a default before 1/1/04. If the default occurred after 1/1/04 the statute is 2 years. If you have not used the card or made a payment since 2001 they are outside the statute.

It is a very short statute.

I believe it stays on your credit report for 7 years from the time you defaulted.