jaydin at I stay in Toronto Canada, and am currently trying to enhance my credit score. Two years ago the primary borrower file chapter, now the debt is my responsibility and is sitting with a set company for a few years. The debt is 4300@$, 1800$ of that quantity is from interest accrued.

In Ontario, a creditor has 2 years from the final time you confirmed the existence of a debt to sue you – or you may use the Limitations defence in Court. If they call again, advise them you dispute the existence of any debt and they need to either cease and desist or take you to Court. The brief reply is that you ask the collection agency to ship you a letter giving proof that you simply owe the money, and that they're authorized to gather it. It’s likely they won’t trouble to send you the letter, which should be the end of it.

If they do ship the letter, then you can call them and advise them that since the money owed are gone the limitation interval, you will not be paying them. If they sue you , you would show up in court docket and inform the decide that the debts are very old, and provide proof, and that ought to be the tip of it. at Hi TJP. As a basic rule, credit businesses include all debts from across Canada, so moving to a unique province does not remove a debt from your credit score report.

Second, the purge date on a credit score report is usually six years from the date of final exercise, so in your case, sure, the debt will most likely no longer seem in your credit score report after December 2021. Without knowing the precise nature of the debt I can’t give specific recommendation, however normally, yes, after six years money owed no longer appear in your credit score report, so it's probably that it is going to be purged in 2018. No, as soon as the six years has elapsed, the credit reporting company will now not report that debt . You say that the debt is “sitting with a set agency for a number of years”. To find out, get a duplicate of your credit score report from each Equifax and TransUnion to determine the final exercise date.

It feels like they bougt an old debt and are now attempting to collect whatever they'll. Ted Michalos at Normally a creditor has 2 years from the date you final confirmed the existance of a debt to start legal motion to recuperate their money. Of course in the event that they called you and also you mentioned, “yes, I owe you that cash” the 2 years begins another time. Ted Michalos at It sounds like you need to be using the dispute decision course of for credit reviews to type this out. The credit score unions report whet their members inform them to report so they’ll lay the blame on the collector… You need to verify and see if BC has a Limitations period on debt collections.

Likely this debt is now not collectible as a result of its age, however you should double check your provincial legal guidelines to make sure. Can they report very old debt that has long since fallen off my credit report and the way long will it keep on my report. Ted Michalos at Look up the Limitations Act – it units out the statutory periods that old money owed could also be enforceable.