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    sdm007's Avatar
    sdm007 Posts: 2, Reputation: 1
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    #1

    Jan 31, 2010, 05:35 PM
    Statute of limitations ontario canada
    If statute of limitations has run out and I am not bound to a loan any longer does that effect my credit? Would I be able to buy a home under my name.
    Iknowalotofstuff's Avatar
    Iknowalotofstuff Posts: 144, Reputation: 1
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    #2

    Feb 2, 2010, 10:09 PM

    A credit reporting agency can report negative information for 6 years from the date of write-off. The basic limitation period has been reduced in from 7 to 2 years in many Canadian jurisdictions. It is possible for a statute barred debt to be reported in a CB file. It may be difficult for you to buy a home considering your credit report.
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