If it's been more than 2 years since you last made a payment on any debt aside from a student loan, crown debt or possibly a pre-2004 Highway 407 debt, they are all stats barred by now. If you moved to BC, the limitation period for debts in default before June 1, 2013 was 6 years, but if the contracts were from Ontario and defaulted on after Jan.1, 2004, the 2 year limitation period would apply. However, if you moved to BC before a debt was stats barred, the 6-old year rule could apply if the creditor decided to launch an action there since the transition rules on discovery after June 1, 2013 wouldn't apply. At the very least, you want to ensure you know the legal status of every debt before leaving the province.

Notwithstanding that, your situation illustrates a good point which I've brought up many times. It might appear counter intuitive, especially when you're down and out, but you want to ensure that your creditors always know where to reach you. Why? Because many times, they'll get a default judgment by mailing the statement of claim to your last known address. Then the judgment will be there forever accumulating post judgment interest at the credit card or loan rate until the day you die. Obviously, one single judgment could be enough to force you into bankruptcy at some point. On the other hand, like the song says, "if you have nothing, you have nothing to lose", so you can only come out ahead by letting everyone know where you are.

To check if there are any judgments or actions filed against you, contact the small claims court in the jurisdiction where you lived or initially took out the debts and see if any actions or judgments are listed under your name. That's the best and surest way. You can also call each individual creditor, or you can pull BOTH of your credit reports. But you'll need an address and it's never certain every creditor who could potentially sue you reports to the bureau.

There are 2 additional aspects about the limitation period expiry solution as opposed to bankruptcy. Morally, you will always owe the debts unless they are lawfully discharged in bankruptcy; and practical, because of there is no limitation period under the creditor's right of offset. If the latter is chosen, you would be wise to never put any money into ANY account of an institution which you owed money to, or you might find it cleared out without notice any time in the future.

If you open up a regular checking or savings account, the bank will almost certainly only do a soft inquiry, if any at all, which no one other than you can see.

OK.

First , I am going to thanks all of you guys for your responses.

I am definitely considering bankruptcy, but waiting out the statute of limitations also looks like an alternative. I am, for now, trying to catsh the check, and also using this opportunity to learn more.

it looks like , besides the Money Mart option I have the option of opening an account to a bank I do not owe money to.

I want to get the fact right first:

-Suppose I go to National or ScotiaBank...ie to a bank I had no dealing with. Can the bank refuse me, when I try to open an account, based on the fact of being defaulted with other bank, or of being in collection status?

IS there a point in asking the bank not to release my address to credit reporting agencies? I mean there may be no point if EITHER the bank does NOT do report my address anyway, due to legislation, OR if, the collection agencies CANNOT get my address anyway, from a credit reporting bureau, also due to limitations imposed by privacy laws..

---

I do have another question,, to get me started on figuring out my

complete legal situation, and my options, and it regards the statute of limitation:. If you guys can point out, or answer at least partially my question, it would be very appreciated.

QUESTION:

My debts have occurred while in Ontario, even tough upon my move to BC, I sill paid my monthlies to the banks for a little bit. However,it has been around three years since I stopped payments on my debts. However, I am not sure where I stand with respect to the status of limitations.

How do I find out whether the creditors/collectors have been "keeping the debt alive"?
Could I have been sued /judged without being served a notice? I mean,, the fact that my address is not known and that they could not serve a notice, COMBINED with the fact that I have been getting calls almost every day, could these two facts have reset the statute of limitation?

Many thanks.

What Judgement ? What Interest ? What supporters ?

Steve, by failing to follow through with your promise to post the transcripts of that trial, only strengthens everyone's view that Amanda and yourself lost, and probably lost BIG! Had you two won, let's face it, you'd have been spamming the good news all over this site.

So, until you show us all those transcripts, how's about sticking with your newly found career and refraining from injecting comments to those seeing advise around here.

Does that mean you'll pay it or ignore it? Please tell us.

"Plumbeus"

Well,

What Judgement ? What Interest ? What supporters ? TD, stands for
Tear Drop trailer. Now if you'd excuse me, I have a website to go work on...

But what about the Pontiac Grand Prix?a

I plan on further developing my own Ontario tourism website, complete with it's own forum, Go snowmobiling on weekends and getting ready for my next tear drop trailer build in the spring. Already bought the next trailer. Thanks for asking...

Well ok, what are you going to do about TD in 2014?