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    RogerWilton's Avatar
    RogerWilton Posts: 1, Reputation: 1
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    #1

    May 7, 2007, 02:42 PM
    Statue of Limmitations on debt in BC
    Hi;

    I have a old business debt under our business company from a vendor we used to deal with in 1998. We went out of business. We were broke. We paid as many debts as we could but a few were left unpaid.
    We have moved away from Bc, since then, came to manitoba and started from strach.
    Now I receive a claim in Small claims court in BC, for $ 1500 plue fees and interest to the tune of $ 5300.

    My Question is : What is the statue of limitations on Business debt ?

    Thanks

    Roger
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    May 7, 2007, 04:55 PM
    What kind of business did you have…a corporation or a sole-proprietorship?

    If a corporation, they can't come after you for these debts unless you personally guaranteed it.

    If sole-proprietorship, they can come after you for these debts.

    That all being said, the SOL would take affect which I think is 6 years. I am not 100% sure on what the SOL in BC was in 1998 though.
    kbarwell's Avatar
    kbarwell Posts: 1, Reputation: 1
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    #3

    May 7, 2007, 05:43 PM
    What is the limitations on non payment of outstanding bills owing
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