12 year old debt

Question:  I live in Ontario, and the collection agency said that the debt occurred in 1996 and was written off in 1998. I do not think this was an unpaid debt, but after all this time what can I do? How can I prove that it was or was not paid now?

Can the collection agency still come to me after this many years?

Can they put a judgement against me after all this time, and will this affect my current credit score?

If this turns out to be an old unpaid debt, can I settle for a lesser amount?

Collections Agencies And Old Debt

You have a number of options.  First, you can do nothing.  It is highly unlikely that a collection agency will take you to court for a 12 year old debt.  In fact, it is possible that the Statute of Limitations has expired on the debt, although you would need to consult a lawyer for more information.

You can also negotiate a settlement with them, if you so choose.  However, to start, be careful not to acknowledge that the debt might be yours. You should request proof that you owe the money.  Given the age of the debt, they may not have the original paperwork, and in fact you may not even owe the money, so getting proof of the debt is your first step.

Here are some further resources that may help:

Join the Conversation

  1. AvatarDouglas

    I live in Ontario and a lawyer just called me regarding a judgement filed against me at least 10 years ago from what I’m understanding for credit card debt. I believe there may have been something owing at that time. Long story short I was going through a very bad time. Anyway, what are my options? Hasn’t the statute of limitations passed? Can they still garnish me?

  2. AvatarJ. Douglas Hoyes

    Hi Douglas. There is no statue of limitations on a judgement (if they already took you to court and got a judgement before the limitation period expired). I suggest you ask the lawyer to provide you with a copy of the judgement, and you could also check your credit report to see if it appears there. Then, based on that, you may want to talk to a licensed insolvency trustee to review your options.

Leave a Reply

Your email address will not be published. Required fields are marked *

10 − 4 =