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What is a statute-barred debt? Credit report terms explained
a statute-barred debt explained in plain language for Canadians: what it means on your Equifax or TransUnion report and what you can do.
What a statute-barred debt means
A debt is statute-barred when the limitation period to sue has passed (2 years in most provinces, 3 in Quebec). You may still owe it, but the creditor generally can't win a lawsuit for it.
A statute-barred debt can still appear on your report until its reporting period ends.
General information only, not legal advice. Laws change; check the current rules for your situation.