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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 |
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 Originally Posted by mradec
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. |
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