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Other debts like 407 ETR debts and a CMHC home loan shortfalls will get complicated.

Other debts like 407 ETR debts and a CMHC home loan shortfalls will get complicated.

Simply because a financial obligation is “old” does maybe maybe not imply that it goes away completely. When you have old debts, don’t assume it is possible to simply do nothing. If it is significantly less than 2 yrs old, the limits work does not apply as well as your creditor can sue you. It’s not on your credit report, but your chances of getting another loan at your former creditor is slim, or will come at the cost of extreme interest rates if it’s more than six years old.

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