September 20th, 2010 by Questions
Is there a time period where debts are relieved in Canada? I know it is six years in England
Posted from: British Columbia
September 21, 2010 at 9:12 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
What you are referring to is the statute of limitations. This is a very complex issue that is based on a combination of the province in which you live, the age of the debt and the activities taken by your creditors. As a result this is something that you need to review with a lawyer not a trustee.
However, from my perspective, most creditors are fairly savvy, they know what they need to do to preserve their collection rights and as a result there are not a huge number of cases that the statute of limitations impacts.
Log in to Reply
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.)
You must be logged in to post a comment.