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I sold my share of a business in Nov. 2014 for $180,000,

Customer Question
I sold my share...

I sold my share of a business in Nov. 2014 for $180,000, payable at $5,000/mo. for 36 months, no interest, and the other party ("KJ") had been slow to pay. In fact, I came back to work to help them out so I could get paid my $5,000/mo.Then, CRA jumped in, and, because CRA claims I owe them a lot of money, they jumped in and forced KJ to pay them instead. Then I noticed KJ somehow had the amount dropped to just 10% of the payment, or $500/mo. And also I noticed his payments became sporadic with them.I was having a very hard time getting CRA statements to show these payments via statement of account. Now, I just found out that he hasn't paid them is nearly 2 years (last was May 16th, 2016)!! Aware of the 2 year limitation on small claims, on May 9th I quickly prepared and served a 21-day Demand letter to KJ but haven't heard anything. He until May 30th to pay me the balance of $73,000 less the $15K-$20K or so he has paid to CRA. (I'm okay with the $50,000 limitation on Alberta small claims)Now that is its May 26th, my question is, has the 2 year limitation already passed, making an official court small claim null and void? Or, has my collection effort on the 9th "revived" it?

Lawyer's Assistant: Have you talked to a MO lawyer about this?

MO?

Lawyer's Assistant: What steps have you taken so far?

None, just personal Demand letters. I am too broke to afford a lawyer

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

What's an MO, you mentioned above?

Submitted: 2 months ago.Category: Canada Law
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Answered in 52 minutes by:
5/28/2018
Lawyer: Debra, Lawyer replied 2 months ago
Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 106,015
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Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

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Lawyer: Debra, Lawyer replied 2 months ago

I am sorry to hear of this difficult situation.

When is the last time the buyer made a payment towards what you are owed?

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Customer reply replied 2 months ago
He last paid $500 to CRA, thereby acknowledging the debt on May 16, 2016. But directly to me was in October 2014.
Lawyer: Debra, Lawyer replied 2 months ago

But what is the May 30th date?

Is the agreement that you have to be paid in full by this May 30th?

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Customer reply replied 2 months ago
Debra, that is the date on the Notice of Default, I served KJ with on May 9th. It is not the date from the original contract
Customer reply replied 2 months ago
I gave KJ 21 days to pay.
Lawyer: Debra, Lawyer replied 2 months ago

Your collection effort cannot revive the limitation period unfortunately.

You have to start a claim by issuing the claim in the courthouse within two years of the claim have been discovered or when it could have been discovered.

So if you are saying he has been in default for over two years then it is too late to sue unfortunately.

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

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Lawyer: Debra, Lawyer replied 2 months ago

Is there anything more I can help you with at this point in time?

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