Creditor demand letter
Private creditor
The source doesn't state a fixed deadline.
Needs prompt attention
Legal detail
- Timing gate: transfers after a known claim can be set aside as fraudulent conveyances
- Ontario fraudulent-conveyance limitation: 2 yrs from discovery (Iskenderov 2023 ONCA 528)
What this usually means
A creditor is formally demanding payment. A demand letter, a lawsuit filing, or even a verbal dispute can make a 'known claim', and once a claim exists the planning window has closed.
What to gather
- The letter (all pages)
- Envelope and date received
- Account numbers (masked)
- All correspondence related to the claim or account
- Relevant contracts and agreements
- List of assets and when they were acquired (do not transfer)
Sources
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