Question
IS there A limit for how long creditors have too collect debt?
I am just wondering for Ontario, Canada. How long do creditors have to collect debt? Is it by the last payment you made? Do they have a statue of limitations to sue you? I heard it was 2 years (for personally sue someone for a debt,) Is it the same for collectors? And If they only have so long to sue, can they still try and collect the debt? Do you still have to ay the debt? (especially if your not even working?) What can they do,? Is there anyone you can contact OTHER then the collection agencies or creditors to find out when you LAST made a payment? Will it still show on your credit Score for not making payment ect If there statue of limitations has past? HOw does this work? If its past the time lmit and they can no longer sue you legally, Then what can they do, Just call you and harass you to make payments? And (the obvious affect your credit score) which is obviously already ruined in the first place. Anyone know about this, please, all information is helpful. Also if you get your liscence, can they Or ARE they able too track you by this? Thanks!
1 month ago - 4 answers
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March 4, 2003 decision of the Supreme Court of Canada decided that limitations applied to CRA as well as other Crown proceedings. Section 32 of the Crown Liability and Proceedings Act and Section 3 (5) of the BC Limitation Act barred collection of the Federal and Provincial portions of the debt since the debt was more than 6 years old. The following is the Statute Of Limitations laws for the Provinces and Federal Government in Canada British Columbia - Section 3 (5) of the BC Limitation Act sets 6 years as the limit for debt. Alberta - The Alberta Limitations Act sets 2 years as the term which is extended to 10 years if there is a judgment. Ontario - The Ontario Limitation Act 2002 , came into force on January 1, 2004. It sets two years as the term (Section 4). This limitation will be reinstated where the debtor acknowledges the debt or makes a partial payment towards repayment of his debt. If the default occurred prior to January 1, 2004, the creditor will continue to have 6 years to pursue the claim. However, if the default occurred after January 1, 2004 then the 2-year rule applies. Federal - Section 32 of the Crown Liability and Proceedings Act sets 6 years as the limit for debt. www ...
1 month ago
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Other Answers
There is a limit here in the US. They can still sue but if you show up in court and point out the statute of limitations has passed then they can't win.
by timothy p- 1 month ago
Im not sure about in canada as far as the limits but I do know that if you get your license they will have your info also they can find previous employers, family, neighbors, etc and they can and will call other people to get a hold of you.
by Baby boy due March 7, 2010- 1 month ago