Many Uk Columbia residents who will be dealing with credit and financial obligation dilemmas are unaware that a statute that is provincial of exists on financial obligation – BC’s Limitation Act. Keep reading for a summary on how the statute of restrictions on financial obligation works in BC, plus some scenarios that are common it could be applicable. This focus relates to fundamental consumer debts – for information on liabilities as a result of damage, damages, etc it really is constantly better to look for direct counsel that is legal.
Statute of Limitations on Debt in BC – The Essentials:
Within the province of British Columbia, Limitation Act may be the legislation that sets away details for limitation durations; limitation durations cap how long folks have to sue for the financial obligation owing, and offer quality around whenever obligation begins and comes to an end.
BC has a two-year fundamental obligation limitation period, which will be couple of years after: