Statute of Limitations Question

[greginky]

I am new here, I have searched but didn't find this answer so i started this thread. I know basically what a statute of limitations is. Here in Kentucky it says 5 years, my question is, does this mean that after 5 years instead of 7 the CRA should remove that from my record if I state that fact in a dispute letter to them?

[jjgross]

Originally Posted by greginky

I am new here, I have searched but didn't find this answer so i started this thread. I know basically what a statute of limitations is. Here in Kentucky it says 5 years, my question is, does this mean that after 5 years instead of 7 the CRA should remove that from my record if I state that fact in a dispute letter to them?

No the 5 years is for collecting or sueing.It will stay on your cr for 7 years.

[greginky]

Thank you for explaining that. I am new to this and it is still pretty confusing at the moment, but there is so much outstanding info here. I am following the basic steps laid out by Trish in one of her posts. I have learned so much in the past 2 days.