Personal Finance

COLLECTIONS AND COLLECTION AGENTS: Ask me anything! (Official RFD Thread)

Deal Guru
Sep 2, 2008
10419 posts
688 upvotes
CNeufeld wrote:
Sep 14th, 2017 12:39 pm
Did you check Equifax? And how is she "uncertain" about the contents of the message?

There's information in this thread about requesting them to contact you only in writing, which should allow you to clarify their claim, as well as cutting down on the calls. I'd start with that.

C
Sorry for the late reply.

I tried to check equifax but they could not verify my wifes identity, apparently there are two addresses on her file that she has never lived at. They asked us to write a letter stating this, her DOB, name, email, two copies of IDS and fax it in before we can even look at her file.

I tried to get them to make an appointment so I can show them the documents in person but they cannot. I really do not want to send this company more personal information, especially through fax.
Newbie
Aug 27, 2017
2 posts
YorkIT wrote:
Sep 8th, 2017 1:11 am
Update: I paid York U directly (via online banking).
Contacted EOS and they removed the item from the "collection accounts" on my Equifax credit file.
It took 3 weeks. I had to follow up with EOS a 2nd time after the first request wasn't completed by Equifax properly; Within a 4 days of the request by EOS, it was removed from my Equifax file.
Initially it was just updated to Paid, but still appeared under collectoin accounts. The 2nd follow up got it removed completely from the report.
My score went back up by 31 pts.
Hi there, I'm currently in the same boat as you except that I haven't paid anything off yet just because I want to do it right so I have a couple of quesitons.

What made you pay the university directly and not the collections agency? And how did you convince them to remove it from your credit report?

Thank you in advance.
Newbie
Oct 10, 2017
2 posts
Quick question: I have an old Telus account with cbv collections. Went defaulted 2014 (march) balance was 1001.
It is the only blemish on my credit, but I was going though a divorce and was unable to deal with the bill at that time.

Anyways, long story short I went to my credit report to see the collection agency that had it and the exact amount to pay. It is now 1960 and going up about $5 a week. Do they have to show what they are charging and why?

I have asked the credit agency for validation of those charges ( I have never got a letter or anything ever from them) I live in pei and am pretty sure you can not add on extra "fees" but I'm not sure.

I also asked the credit bureau to validate these charges.

In this case what should I do, I have heard paying an old collection is even worse for my credit, should I settle? Pay it? Leave it? It has doubled in size and I can only imagine how huge it will be in a year!
Newbie
Oct 29, 2017
1 posts
Hello,

I'm would really appreciate some guidance regarding my provincial (Ontario) portion of my student loan.

It went into default around 2004 and eventually assigned to a collection agency called NCO. It was on my credit report for the standard 7 years and then dropped off I'd say somewhere around 2010.

I just realized that another third party collection agency called Total Credit Recovery (TCR) re-added it to my credit report in 2015 (never sent me a letter either). I didn't realize this until now as I'm in the process of completing a registration for a new job that checks your overall credit standing so this is hindering my registration to a certain degree.

I disputed with Equifax the fact that TCR added this back on my credit report stating the date of last payment was in 2015 when in fact I've never spoken or interacted with TCR however, Equifax came back to say that TCR confirmed the account is valid and the date of last payment date is the "delinquent date", not when I made a payment - Equifax could not provide me with an explanation of what the "delinquent date" is. It seems unfair to me that they can put his back on my report but after doing a little investigation online, it appears they can as provincial student loans never go away (no time limitation); is this correct?

The amount owing is around 5k and I'm not sure what I should do now…Should I bargain with this collection agency to reduce amount and pay it, let it be and see if it drops off in 5 years (7 year mark) or perhaps take another route? Thank you.

Note: I also just read something about a Rehabilitation Program. Would this apply to me and in my best interest?
Newbie
Dec 6, 2017
1 posts
Hi there,

I would appreciate some insight. I havent paid the minimum on my student line of credit for a few months from a large canadian bank, and i received a demand letter from a law firm asking me to pay the outstanding amount or they will take legal action. I am currently employed and I am able to continue the minimum monthly payments no problem, is this just a matter of discussing this with the bank, the lawyer, or are they going to take me to court? Kindly let me know your thoughts. Thanks
Newbie
Dec 13, 2017
1 posts
Hi!
I have a debt with yellow pages. I agreed to a verbal on year contract.
I gave them my credit card and set up monthly billing. They did not set up my billing until 5 most the later. So when they set it up I had a new credit card and the one I gave them didn't work of coarse.
Then they wanted to charge me for those 5 months all at once. I said no I can't do that. I need a payment plan. Nothing was offered to me , so I said I want out of my contract then. They said no.
So now it's been the whole year and I refused give them my credit card cuase they will take the when payment at once.
I am going to be sent to collections on Thursday next week.
Does this yellow pages debt effect my credit score!? I'm in Canada
Newbie
Jan 10, 2018
1 posts
HI I've received a notice from cmercury credit adjusters lts saying I owe on a credit card for roughly 2557 $ on the letter it says at the top without prejudice but the letter basic says I have 6 days to pay them I believe this credit debt was from around 5-6years ago I jus want to know what's the worsend thing that can happen if I don't pay the full amount I also live in Ontario please help
Newbie
Oct 8, 2005
55 posts
I had a Canadian Tire Mastercard that went to collections in 2015. There was a couple of collection agencies, and 1 law firm trying to collect it on behalf of Canadian Tire. I was in a car accident and wasn't working so I only could make small payments when I could. I am on Ontario Works. I told Canadian Tire, the collection agencies, and the law firm this and they were ok with me paying what I could. Last time I made a payment was November 2016.

I started receiving letters and phone calls last summer from a new collection agency saying they "bought" the debt from Canadian Tire. This new collection agency says I owe a hugely different amount (more than double) than what Canadian Tire says I owe.

This new collection agency was also calling relatives and discussing my account, and credit report history with them. The new collection agency would not tell me what the Canadian Tire account number was that they say they bought, and would not provide proof they bought it. The new collection agency also would not provide me with their collection agency registration number. I sent this new collection agency a couple of faxes, and letter last fall requesting this info and telling them I am on Ontario Works (which by law can’t be garnished). I have no assets.

I received a letter from a lawyer (I verified with the law society that it is a lawyer) saying if I don't pay within 10 days they will commence legal proceedings.
Member
Sep 6, 2016
488 posts
176 upvotes
nnnn wrote:
Feb 9th, 2018 8:57 pm

This new collection agency was also calling relatives and discussing my account, and credit report history with them. T
Now it is your tour to sue collectors - they cannot to speak with relatives about your debt
Public Mobile $110/12GB forever!
Deal Addict
User avatar
Dec 3, 2004
4824 posts
2914 upvotes
Vancouver
nnnn wrote:
Feb 9th, 2018 8:57 pm
I had a Canadian Tire Mastercard that went to collections in 2015. There was a couple of collection agencies, and 1 law firm trying to collect it on behalf of Canadian Tire. I was in a car accident and wasn't working so I only could make small payments when I could. I am on Ontario Works. I told Canadian Tire, the collection agencies, and the law firm this and they were ok with me paying what I could. Last time I made a payment was November 2016.

I started receiving letters and phone calls last summer from a new collection agency saying they "bought" the debt from Canadian Tire. This new collection agency says I owe a hugely different amount (more than double) than what Canadian Tire says I owe.

This new collection agency was also calling relatives and discussing my account, and credit report history with them. The new collection agency would not tell me what the Canadian Tire account number was that they say they bought, and would not provide proof they bought it. The new collection agency also would not provide me with their collection agency registration number. I sent this new collection agency a couple of faxes, and letter last fall requesting this info and telling them I am on Ontario Works (which by law can’t be garnished). I have no assets.

I received a letter from a lawyer (I verified with the law society that it is a lawyer) saying if I don't pay within 10 days they will commence legal proceedings.
Why are you talking to these people? What on earth makes you think that you can convince them to act logically? Do you think they are going to say "Hello. Okay, thanks for letting us know you are on Ontario Works. We will leave you alone now". Ever hear the phrase, "Any publicity is good publicity?". Well, when you are a collection agent "Any reply is a good reply". The best thing you can do is IGNORE all collections agents. Do not answer the phone. Do not antagonize them. Do not fax them. If your family is being contacted by them, then that's your families problem. I would say to your family "I have no idea who those people are or how they got my name. If they are harassing you, phone the police".
Newbie
Mar 3, 2018
1 posts
Thanks to everyone on this forum for the great information over the years... I've been a longtime reader!

Here's a scenario I hope someone might have some thoughts on:

About a decade ago I made some stupid decisions that left me with credit card debt across a number of cards. Since then, things have either been paid off or have fallen off my credit report. Only one R9 is left on my report (falls off in about a year) and that account has been paid in full.

One way that I've been able to get approved for new cards despite the R9 is to open accounts with financial institutions and make regular weekly deposits into a savings account for three or four months to show good habits even beyond my improving credit file. This has helped me to get approved for over $50,000 of cards with major institutions. I've even been approved for an Amex card, despite a $9000 unpaid debt with them from about 12 years ago.

I am looking to open a savings account with a financial institution where I had an old credit card debt. I do know that this debt from over a decade ago has been sold a couple of times. With this in mind, do you think a bank would/could still remove funds from a savings account to put towards that amount from over ten years ago? I don't know the experiences of others, but I was thinking that after such a long time and the sale of the debt, the bank might only have a record of the amount in a deep dark file somewhere such that they wouldn't act on current accounts. Any thoughts are appreciated... Please feel free to let me know if you need any clarification!

Thank you in advance.
Newbie
Mar 6, 2018
2 posts
I have a question I am hoping someone can shed some light on. A few years ago a family member stopped paying his credit card. Went through the usual phone calls, letters from collections etc. Credit card was with the same bank he deals with for personal banking. Never changed banks and bank never froze his account (only money he gets is pension money maybe that's why not sure). After a few years he gets a letter that debt has been officially sold to a collection company and should he not pay they would sue. Couple months later sure enough he gets served. In the claim it shows the bank had taken money from his account and applied it to his credit card debt. They took random small payments of varying amounts here and there. He had no idea that it happened (70+ yrs old never noticed it). What I would like to know is does the bank taking the payment from him constitute him acknowledging or making a payment for statute of limitation purposes. I have had a lawyer tell me it is statute barred and to defend it as such and have had others tell me it is not. The payments were made (or taken) in a city 5 hours away from where he lives without his knowledge although the credit card agreement says the bank can offset the debt by taking money. But how does it affect limitations because it would have long since been statute barred if these payments don't count. And was the bank allowed to remove funds from his account that was pension money. I know they are not able to garnish pensions but this is not a garnishment so I am not sure. Any insight would be appreciated.
Newbie
Mar 8, 2018
1 posts
Hi, I don't know what to do and would appreciate your input.

I went on vacation 2 months ago (to Morocco) and my credit card was stolen. The thief went on a shopping spree and maxed out my $15 000 CIBC credit card. Some transactions were done through simple credit card swipe and signature and others using my PIN number. I don't know how my pin was obtained but CIBC told me I am responsible for all transaction done using the "chip and pin", as per the fine print in my credit card contract. They have however refunded me for all other "card swipe" transactions. I now owe them about $11 500.

I don't have this money. I have had this credit card for 14 years and have never had a single late payment. In all those years I have never spend more than $2000 per monyh. I have never been in the cities where these fraudulent transactions were made, haven't even heard of them, and can prove I was elsewhere when this shopping spree occured.

I don't plan on paying this debt, not only do I not have the money, but I'm being punished for someone else's crime.

My questions are:

1) If I simply don't pay, how likely is it that CIBC will sue me?

2) Should I try "negotiating" with them to try and pay this off (even though the thought is killing me!), and if so, what can I expect?

3) I could find about $3000-$4000 as a lump sum payment to end it all. Is this reasonable or ridiculous?

4) Am I better off letting my debt go to a collection agency and negotiating with them rather than dealing with CIBC?

Thank you for all your help!
Newbie
Feb 19, 2018
9 posts
1 upvote
Hello,

I am hoping someone could help me with these questions? My Sister lives in BC and she had several Credit Cards…CIBC Visa, BMO MasterCard, Sears Card and a couple of others which she racked up to the tune of about 40 thousand dollars. She ran into some financial difficulties in 2010-2011 and stopped paying on all of them. She was contacted by several different collection agencies by phone & mail even to this very day & she a has completely ignored everything. She checked her credit report recently and none of the CC she defaulted on are listed. Yesterday she received a letter from a collection agency saying that if she does not pay within 5 days that on be half of their client Bank of Montreal they are going to start litigation proceedings against her. Now my question is can they actually sue her or are they just blowing smoke? I have heard that once that SOL ends they cannot try to collect legally from her but then I have also read they have 15 years to sue her. Please if any knows answers to these questions I would very much appreciate the help.

Thank you,
Nicole.
Newbie
Nov 15, 2017
64 posts
125 upvotes
NicoleL243659 wrote:
Mar 13th, 2018 11:27 pm
Hello,

I am hoping someone could help me with these questions? My Sister lives in BC and she had several Credit Cards…CIBC Visa, BMO MasterCard, Sears Card and a couple of others which she racked up to the tune of about 40 thousand dollars. She ran into some financial difficulties in 2010-2011 and stopped paying on all of them. She was contacted by several different collection agencies by phone & mail even to this very day & she a has completely ignored everything. She checked her credit report recently and none of the CC she defaulted on are listed. Yesterday she received a letter from a collection agency saying that if she does not pay within 5 days that on be half of their client Bank of Montreal they are going to start litigation proceedings against her. Now my question is can they actually sue her or are they just blowing smoke? I have heard that once that SOL ends they cannot try to collect legally from her but then I have also read they have 15 years to sue her. Please if any knows answers to these questions I would very much appreciate the help.

Thank you,
Nicole.
If she stopped paying her credit card bills more than two years ago and has not acknowledged the debt in any way, then they can't start litigation for the principal amount owed. Even though you mention that the CC are not listed on the credit report, they are, she just didn't see them. Undoubtedly her credit score is very low and she has no chance or getting credit anywhere, just because of this I would not recommend her to answer to any of the collection agencies. If she is served papers to appear in court then tell her to not miss that appointment, most likely the judge will throw away the case due to time limitations.

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