by Millie P » Thu Dec 31, 2009 04:20:45 AM
Three years from the date of last acknowledgment. While payment is normally the most common form of acknowledgment it is not the only possibility.
With respect to remaining on your credit report I believe it is six years in most provinces for consumer debt. That being said collection agencies have been know to attempt to re-date debt so it could come back and cause you hassles.
Depending on your situation there is also the possibility that they will actually sue you before the debt becomes stat barred. It really depends on the facts of the situation. The tone of your post implies that you have the ability to pay but are trying to game the system by just running out the clock. If that is the case it greatly increases the chances of your creditors proceeding with legal action. You owe the money and you should pay it back.