April 14th, 2008 by Questions
I forclosed on my house in 1997 and it was cmhc insured,i have never been contacted in anyway or form form cmhc until now 10 years later through one of thier collection agencies by mail, i have not responded to them, i heard that if whithin the first six years if collection had no contact with me that the collection is void under the statue of limitations, is this true.
One Response to “cmhc debt”
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.
April 15, 2008 at 8:28 am, Barton Goth GCO Bankruptcy Trustees said:
The limitations act is diferent in each province. While it is possible that this period has expired, it is largely going to be depedent on what steps CMHC had taken back in 1997. If they had obtained a judgment they may have taken sufficient action for this debt to fall outside of the exemption statute (as typically I find large organizaions like CMHC are very familiar with the collection rules and rarely run afoul of these limitations rules). So you may want to confirm this with a local trustee.