Collection Agencies - Options for 10-year old debt (in my name)? - Canada

a good place to talk about links

RE: Options for 10-year old debt (in my name)?

Postby somuchfor » Sun Aug 20, 2006 12:00:00 AM

That is Ontario law, but I would like to know how this affects me in Alberta.

Looking at the Alberta Acts and Regs website, the Limitation Act states:
Limitation periods
3(1) Subject to section 11, if a claimant does not seek a remedial order within
(a) 2 years after the date on which the claimant first knew, or in the circumstances ought to have known,
(i) that the injury for which the claimant seeks a remedial order had occurred,
(ii) that the injury was attributable to conduct of the defendant, and
(iii) that the injury, assuming liability on the part of the defendant, warrants bringing a proceeding,
or
(b) 10 years after the claim arose,
whichever period expires first, the defendant, on pleading this Act as a defence, is entitled to immunity from liability in respect of the claim.

As well as:
Judgment for payment of money
11. If, within 10 years after the claim arose, a claimant does not seek a remedial order in respect of a claim based on a judgment or order for the payment of money, the defendant, on pleading this Act as a defence, is entitled to immunity from liability in respect of the claim.

Will this be a problem? Or does it pertain to me?
THanks again...
somuchfor
Member
Posts: 4
Joined: Wed Aug 02, 2006 09:32:51 PM
Province:


RE: Options for 10-year old debt (in my name)?

Postby Floppy » Sun Aug 20, 2006 12:00:00 AM

There is no need to worry about 10 year old debt if claim was made after more than 6 years. From 1st Jan 2004, limitation period is reduced to only 2 years. Here is a link for details of limitation period.

http://www.canlaw.com/lawyers/limitation.htm
Floppy
Member
Posts: 11
Joined: Sun Aug 14, 2005 09:52:19 PM
Province:


RE: Options for 10-year old debt (in my name)?

Postby somuchfor » Tue Aug 08, 2006 12:00:00 AM

Yes. That's what I was told. Sometime in middle/late 1996.
somuchfor
Member
Posts: 4
Joined: Wed Aug 02, 2006 09:32:51 PM
Province:


RE: Options for 10-year old debt (in my name)?

Postby montyloree » Tue Aug 08, 2006 12:00:00 AM

Another important thing is , when was the last time a payment was made on your debt... 10 years ago?

montyloree
Moderator
Posts: 3772
Joined: Sat Jul 16, 2005 10:52:47 AM
Province: SK


RE: Options for 10-year old debt (in my name)?

Postby somuchfor » Sun Aug 06, 2006 12:00:00 AM


Thanks for the revelation. Much appreciated.
I'm assuming Alberta law is same or similar?

after a bit of research, one can find the info you mentioned , but what is the ultimate 15-year limitation period??
somuchfor
Member
Posts: 4
Joined: Wed Aug 02, 2006 09:32:51 PM
Province:


RE: Options for 10-year old debt (in my name)?

Postby montyloree » Sun Aug 06, 2006 12:00:00 AM

Floppy... as always, good info..

What's your source for 2 year statutes of limitations in Ontario?
That would be pretty interesting for most people here.

montyloree
Moderator
Posts: 3772
Joined: Sat Jul 16, 2005 10:52:47 AM
Province: SK


RE: Options for 10-year old debt (in my name)?

Postby Floppy » Sun Aug 06, 2006 12:00:00 AM

In ontario, all debts which occured before 1 Jan 2004 have limitation period of 6 years.

After Jan 04, law is modified to reduce limitation period to 2 years.

Therefore, your debt after 10 years is not valid to be recovered. The agency should stop follow up with you immediately.
Floppy
Member
Posts: 11
Joined: Sun Aug 14, 2005 09:52:19 PM
Province:


Options for 10-year old debt (in my name)?

Postby somuchfor » Wed Aug 02, 2006 12:00:00 AM

Current problem: a credit company has called me on a debt from 10 years ago.

Ten years ago I left a relationship understanding she would make remaining payments on items I left to her. That is neither here nor there, but it was in my name. Apparently that end of the deal was not met, as I found out the other day.

I was told the company to which I owed the money sold my file to their credit agency in 2003.

I do not have this "problem" listed in my recently acquired credit rating information.
Can they add this to my credit info? What can or can't they do after ten years?

QUESTION: what are my options?
somuchfor
Member
Posts: 4
Joined: Wed Aug 02, 2006 09:32:51 PM
Province:


,

Return to Collection Agencies - Discussion Area