FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Name*

Phone Number*

Email*

Hidden

What's the best time to contact you?*

Location*

What city do you live in?*

Hidden

Source

How can we help you?

Phone

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

Credit Cards

in america, if you do not pay on a credit card for 2 years, the debt no longer exsists. Is this the case in Canada as well?

Posted from: British Columbia

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “Credit Cards”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

There is a statute of limitations that exists. There is both a Federal and Provincial Limitations Act which stipulate a limit on the time an unsecured debt survives. If there is no activity by a debtor or the unsecured creditor for a set period of time then there is no legal action that can be taken to collect the debt. While this piece of legislation seems very straight forward, there are relatively simple strategies a creditor can employ to preserve their rights to collect on a debt. So if you think you might qualify to use this statute of limitations as a defence you are best to consult with legal council to determine if it in fact applies.