Ontario Limitations Act and Old Debts. Let’s focus on that which we understand

Ontario Limitations Act and Old Debts. Let’s focus on that which we understand

Will it be real that it will go away if you just ignore an old debt? Not quite. You will find a few misconceptions about the Ontario Limitations Act. This week’s Technical Tidbits version of Debt complimentary in 30 may help split the reality from fiction.

Everybody knows that you will get collection calls and, perhaps, have your wages garnisheed if you don’t pay a debt. Therefore yes it is possible to ignore a financial obligation, nonetheless it may trigger collection actions. Doing nothing is not generally an option that is good.

You don’t need to worry about wage garnishments if you don’t have a job. But that doesn’t suggest that one may just ignore a financial obligation and also it disappear completely.

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Debts don’t just “go away”

You to court and suing you if you have no wages to garnishee, or no assets to seize, there many be no benefit to a creditor or debt collection agency taking.

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