How long can a debt collector pursue an old debt in Ontario?

two years
The Statute of Limitations on debt collection in Ontario is legally two years.

How long can an old debt be collected?

How Long Can a Debt Collector Pursue an Old Debt? Each state has a law referred to as a statute of limitations that spells out the time period during which a creditor or collector may sue borrowers to collect debts. In most states, they run between four and six years after the last payment was made on the debt.

Can a debt be sold to a collection agency?

Yes. When a debt is sold to a collection agency, you then owe the money to them instead, meaning you still have to pay what you owe. This is the case whether your debt has been sold to an agency, or the original lender has passed it to one to act on their behalf.

Can a debt collector reset the Sol clock?

Speaking to the creditor, a debt collector, or a new debt owner does not reset the SOL clock to sue in your state (but it can in others). Credit reporting SOL for accounts in collection.

Is the Sol to collect a debt covered by FCRA?

One set of laws will vary by state, and the other is covered by federal Fair Credit Reporting (FCRA) laws. Lets take a look at how both apply to you given the information you shared. SOL to legitimately sue in your state.

Can a collector still collect on a past due debt?

Creditors and collectors can still collect on old debts by calling you and sending letters. However, if you’re sued for a past due debt, the expired statute of limitations can be used as a defense in court to avoid a lawsuit judgment.

Speaking to the creditor, a debt collector, or a new debt owner does not reset the SOL clock to sue in your state (but it can in others). Credit reporting SOL for accounts in collection.

What happens if you sell your debt to a collection agency?

If your original creditor sold your debt to a collection agency, they also wrote off your debt on their taxes which wrote off your obligation to pay.

One set of laws will vary by state, and the other is covered by federal Fair Credit Reporting (FCRA) laws. Lets take a look at how both apply to you given the information you shared. SOL to legitimately sue in your state.

What to do if a collection agency calls you?

If a collection agency calls you rather than sending you a letter, simply tell the agent to send you everything in writing and then hang up the phone. The federal Fair Debt Collection Practices Act gives you this right.