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statute of limitiations

Is there a time period where debts are relieved in Canada? I know it is six years in England

Posted from: British Columbia

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One Response to “statute of limitiations”

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.