statute of limitation on unsecured debts

June 14th, 2010 by Questions

you mention several times that you

“typically find with debt collection is that there are very simple actions a creditor can take to preserve their protection rights. Most creditors are quite savvy and very familiar with these laws. As a result very rarely do we find that someone can rely on the Statute of Limitations.“

what are the simple steps that they take so we know if they have taken them.
please respond

Posted from: Ontario


One Response to “statute of limitation on unsecured debts”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

These simple steps are slightly different in each province, so you need to contact a local trustee to discuss the steps applicable in your jurisdiction.

In terms of determining if these simple steps have been taken, this is a little more difficult. You technically should have been given notice of most things (assuming you kept your address current with all of your creditors), but often due to relocation or simply due to time we find people can be unaware. The problem is it isn’t always easy to find out what actions have been taken, but the trustee you speak to will be able to give you more information concerning this.

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