[oscar011]

My case is pretty bad...
I left Toronto with cca 40 000$ on my credit cards and line of credit. It was 3 years ago. I believe they put me through collection agency, and probably to the court. Knowing that I never showed up - my question is if I come back to Canada, assuming that I found the job, I know they will garnish my salary but will they include all interest during this 3 years of my absence? It's late for bankruptcy or any kind of negotiation, isn't it?
Any suggestion will be highly appreciated.
I don't need to tell you how desperate I am... :confused:

[Iknowalotofstuff]

On Jan 1, 2004, the Limitation Act was amended creating a basic limitation period of two years. This means if you last paid or acknowledged a debt more than two years ago and you have not been sued, you can't be. You should determine the status of the debts. If they have not taken you to court because they could not locate you, these debts may be statute barred. You should make your investigation by phone and do not give out any personal information.

In order to sue someone, there must be a good faith belief that the debtor knows of the proceeding. To commence an action by sending documents to a last know address when you do not have a good faith belief the person is there, is an abuse of process. If there is no judgment now and you have not paid or otherwise acknowledged the debt in 2 years, they cannot sue you.

You could go bankrupt or make a proposal if for some reason you still owe the money.

Do not deal with any bank that has an affiliation with these creditors should you return to Canada.