I have debt from about 4 years ago. I just checked my credit report and none of it is on there. I havnt heard from these companies at all. Is there a time that they have? they cant just keep my debt and pop up at any time can they? Do they have a specific amount of time before they are not allowed to report it to my credit report?
ps. I live in canada.
Please help me I am so confused.
2007-03-09 00:55:07 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
I'm in the U.S. so I don't know the laws in Canada. However, here is the weblink to the Canadian Department of Consumer Affairs so you can find out what your rights are.
P.S. I just found some stuff that says the statute of limitations in Canada is 2 years but it may depend on what Province you live in. You need to find out what the Statute of Limitations is for your Province. If it's 2 years and the debt has had no activity in 4 years, that's probably why it's not showing up on your credit report. They can't collect it.
2007-03-09 01:03:56 · answer #1 · answered by Faye H 6 · 1⤊ 0⤋
Sometimes places don't bother putting a debt on your credit report. I know that what is on my credit report is a fraction of what I actually owe, but most places just don't bother. I believe that it costs money to put stuff on your credit report.
2007-03-09 02:13:17 · answer #2 · answered by ♥ Mary ♥ 4 · 0⤊ 0⤋
Well if it was a small debt its possible it may been ignored, written off, or simply fallen through the cracks. But dont think that just because you havent seen it yet that it still couldnt pop up farther down the road.
2007-03-09 01:09:44 · answer #3 · answered by Anonymous · 1⤊ 0⤋
They may have sold it to a collection agency or written the debt off as a loss and moved on. If the collection agency has purchased your debt they could start calling anytime.
2007-03-09 01:03:24 · answer #4 · answered by k.perk 2 · 1⤊ 0⤋