Statute of Limitations

March 27th, 2007 by Questions

My question having resided now in the US for the past seven years, do the Canadian credit institutions still pursue the debt outstanding upon my return or does the statute apply and is the debt now erased


One Response to “Statute of Limitations”

, A licensed trustee said:

Contrary to popular myth, there is no statute of limitations on debt. Until it is repaid or otherwise retired it still exists. That being said, it is likely that the debt s were written off years ago and that no action will be taken. Unfortunately, there is no way to know in advance if this has happened.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)