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idawmn · Jun 26, 2007, 03:17 PM

I am in the U.S. and am owing money to a leasing company in Ontario, Canada from 2002. Would anyone know what the statute of limitations is for this company to collect on this debt? I have been in the U.S. for 5 years now, do not work and have no assets. Can they sue in the state that I reside in? Thanks.:confused:

idawmn · Jun 26, 2007, 03:24 PM

I forgot to add. This company only go a hold of me in March of this year. From the money owing that they are quoting I owe, it appears they are charging an outrageous amount of interest. This is actually through a debt recovery agency.

CaptainForest · Jun 26, 2007, 05:22 PM

The SOL in Ontario in 2002 was 6 years. So, they have until 2008 to sue you.

The maximum interest per year they can charge you is around 65% by law. Check your contract for exact wording, but most likely that is what the contract states.

idawmn · Jun 26, 2007, 07:20 PM

Originally Posted by CaptainForest

The SOL in Ontario in 2002 was 6 years. So, they have until 2008 to sue you.

The maximum interest per year they can charge you is around 65% by law. Check your contract for exact wording, but most likely that is what the contract states.

Thanks for your answer. What are the chances that they can collect from me since I have no assets and don't work?

I realize I had signed a contract with them upon leasing the car but sheesh I returned the car in great condition when I left the country to marry a U.S. citizen. No doubt they either re-leased that car or sold it. They wore quoting a rate of $7,000 backin March of this year and claim they will keep adding more and more interest on until it is paid. I leased the car in 2000 when it was 4 years old already and was being charged a high interest rate then on the monthly payments.

CaptainForest · Jun 26, 2007, 09:00 PM

Chances they can collect?

They will for sure get a judgment against you which will last for 20 years. (possibly less but it can be renewed).

If you don't work and have no assets, then they can't take anything from you since you have nothing to give. But one day, you will have something probably, and then they will come after you.

Best advice is to pay the debt off now (assuming you owe it), so not to incur even more interest charges in future years.

idawmn · Jun 27, 2007, 06:16 AM

Originally Posted by CaptainForest

Chances they can collect?

They will for sure get a judgment against you which will last for 20 years. (possibly less but it can be renewed).

If you don’t work and have no assets, then they can’t take anything from you since you have nothing to give. But one day, you will have something probably, and then they will come after you.

Best advice is to pay the debt off now (assuming you owe it), so not to incur even more interest charges in future years.

Thanks again. I'll see what I can do.

femmknight · Jun 27, 2007, 09:43 PM

Originally Posted by idawmn

I am in the U.S. and am owing money to a leasing company in Ontario, Canada from 2002. Would anyone know what the statute of limitations is for this company to collect on this debt? I have been in the U.S. for 5 years now, do not work and have no assets. Can they sue in the state that I reside in? Thanks.:confused:

Actually I am the total opposite of you. I am in Ontario,Canada and Im a us citizen with debts there. I believe they cannot come after you. They can sue you in Canada but they can't get money from you in the states. Cause the laws are different I believe. So, if you were to go back to Ontario then they could go after.

idawmn · Jun 27, 2007, 09:57 PM

Originally Posted by femmknight

Actually I am the total opposite of you. I am in Ontario,Canada and Im a us citizen with debts there. I believe they cannot come after you. They can sue you in Canada but they can't get money from you in the states. Cause the laws are different I believe. So, if you were to go back to Ontario then they could go after.

I have found out that the debt recovery company in Ontario has now turned my case over to one in New York state. They have been leaving recorded messages on my machine. I keep it on all the time because I was tired of answering the phone to solicitors all the time. Also was receiving credit calls for my husband's ex who left in 1999.

I just don't know how I can pay this back with no job and no assets. I'm not going to ask my husband because this is not his debt and to be honest there is no extra money on hand anyhow. I'm 48 and don't see getting a job anywhere in the near future. It isn't for the lack of trying.