Newbie
Posts: 1 
December 4th, 2006, 05:37 PM
I just had the rudest non-professional call of my life from Portfolio Management Canada. They informed me of an outstanding debt that I had no idea existed. When I tried to explain that you can't pay for something when you are not aware of it she got extremely angry and the conversation went from polite to screaming. She told me that I was a liar. I am supposed to feel horrified that I forgot about a bill that never came for 5 years and in feeling this way I should have no problem but want to pay more than double. I am not even sure this company is on the up and up. They couldn't provide me with the original sum or how they came to the new amount owing. I have been told that you can just ignore collection agencies and continue to hang up. Especially when they have recorded messages calling you all the time?? Any experience anyone???
I just had the rudest non-professional call of my life from Portfolio Management Canada. They informed me of an outstanding debt that I had no idea existed. When I tried to explain that you can't pay for something when you are not aware of it she got extremely angry and the conversation went from polite to screaming. She told me that I was a liar. I am supposed to feel horrified that I forgot about a bill that never came for 5 years and in feeling this way I should have no problem but want to pay more than double. I am not even sure this company is on the up and up. They couldn't provide me with the original sum or how they came to the new amount owing. I have been told that you can just ignore collection agencies and continue to hang up. Especially when they have recorded messages calling you all the time?? Any experience anyone???
Knows No Bounds
Posts: 3,393 
Videos: 2
Location: 50° 30' N, 104° 38' W
Videos: 2
Location: 50° 30' N, 104° 38' W
December 4th, 2006, 06:03 PM
This debt is supposedly five years old? Doesn't usually take that long for crap like this to get into gear.
You can't ignore them. They'll never give up. Never. Ultimately they'll take legal action against you, in Small Claims Court if the amount is small enough, which is easier to deal with than regular court, for which you'll have to retain a lawyer. There's no excuse for such bad manners on the initial call though. If the agency is legitimate they should politely tell you that you have an outstanding bill with <name of company> in the amount of $X dating from <some date> which has been turned over to them for collection, and how do you propose to deal with this? Anything else is out of line.
It's not a bad idea to talk to a lawyer anyway in these circumstances. A lot of them offer a free initial consultation, or maybe you have a friend who's a lawyer? These outfits can be pretty nasty. I doubt their behaviour extends to sending a couple of thugs around to break your kneecaps, but they'll certainly bring the full weight of the law down on you, they'll try to garnishee your wages if you don't pay up, and they'll wreck your credit rating. You have to take this seriously.
This debt is supposedly five years old? Doesn't usually take that long for crap like this to get into gear.
You can't ignore them. They'll never give up. Never. Ultimately they'll take legal action against you, in Small Claims Court if the amount is small enough, which is easier to deal with than regular court, for which you'll have to retain a lawyer. There's no excuse for such bad manners on the initial call though. If the agency is legitimate they should politely tell you that you have an outstanding bill with <name of company> in the amount of $X dating from <some date> which has been turned over to them for collection, and how do you propose to deal with this? Anything else is out of line.
It's not a bad idea to talk to a lawyer anyway in these circumstances. A lot of them offer a free initial consultation, or maybe you have a friend who's a lawyer? These outfits can be pretty nasty. I doubt their behaviour extends to sending a couple of thugs around to break your kneecaps, but they'll certainly bring the full weight of the law down on you, they'll try to garnishee your wages if you don't pay up, and they'll wreck your credit rating. You have to take this seriously.
Ponderous Intellect
Posts: 4,270
Location: Saint John N.B.
Location: Saint John N.B.
December 7th, 2006, 02:39 AM
I've had over 6 years of nasty phone calls, registered mail, etc, from collection agencies over my co signing of a car loan & have been threatened with everything possible[including court judgements]. To date,I have not paid one cent on this 'debt" and never intend to. My personal technique in the handling of these phone calls involves swearing, and lots of it. And, as of today, it's been one year since the last one.
I've had over 6 years of nasty phone calls, registered mail, etc, from collection agencies over my co signing of a car loan & have been threatened with everything possible[including court judgements]. To date,I have not paid one cent on this 'debt" and never intend to. My personal technique in the handling of these phone calls involves swearing, and lots of it. And, as of today, it's been one year since the last one.
Knows Too Much
Posts: 2,093
Location: Backwater, Ontario.
Location: Backwater, Ontario.
December 7th, 2006, 06:06 AM
CV; Five years seems like a long time to wait for a creditor to push for payment. Maybe your financial picture has improved and they found out.......dunno. If you contact them, "sometimes", a deal for payment in full with no interest can be worked out. Or, if you contact the PERSON IN CHARGE of the collection agency, sometimes the same arrangement can be made.
I co-signed for a friend and got stuck. It went to collection, and I made a deal for REDUCED payment in full with no interest or fees. They were happy to get some (almost all), in cash, at once, to save a lot of litigation. Now my rule of thumb is not to cosign for ANYONE, cause poop happens and if your sig. is on the note, you are the ONE.
Missle: Your delaying tactics are just that. Sorry buddy, but you are IT. When the wheel turns around again you will probably get a summonds to court depending on the amount you co-signed for. Or the company may just go to court and get a judgement against you, garnishee your wages or bank account and/or take action against any real property or chattels you might own or co-own. Might be better to seek a settlement.
I'm not a collections expert nor legal person, but worked for a finance company for five years. Gives one a peek at how the other side works. It's nasty out there folks.
Just re-read your post Missle; Seems like a long time to threaten you. Normally they take action ASAP after learning you or the principle debtor don't intend to pay. Maybe they messed up when registering the note at the courthouse when the loan was made.
If you have a loophole, might be worth looking into. I know if I had a registered chattel mortgage with you as comaker, I'd wait just as long as the law said I had to, to take legal action. Could be a hole in the fence........lol
CV; Five years seems like a long time to wait for a creditor to push for payment. Maybe your financial picture has improved and they found out.......dunno. If you contact them, "sometimes", a deal for payment in full with no interest can be worked out. Or, if you contact the PERSON IN CHARGE of the collection agency, sometimes the same arrangement can be made.
I co-signed for a friend and got stuck. It went to collection, and I made a deal for REDUCED payment in full with no interest or fees. They were happy to get some (almost all), in cash, at once, to save a lot of litigation. Now my rule of thumb is not to cosign for ANYONE, cause poop happens and if your sig. is on the note, you are the ONE.
Missle: Your delaying tactics are just that. Sorry buddy, but you are IT. When the wheel turns around again you will probably get a summonds to court depending on the amount you co-signed for. Or the company may just go to court and get a judgement against you, garnishee your wages or bank account and/or take action against any real property or chattels you might own or co-own. Might be better to seek a settlement.
I'm not a collections expert nor legal person, but worked for a finance company for five years. Gives one a peek at how the other side works. It's nasty out there folks.
Just re-read your post Missle; Seems like a long time to threaten you. Normally they take action ASAP after learning you or the principle debtor don't intend to pay. Maybe they messed up when registering the note at the courthouse when the loan was made.
If you have a loophole, might be worth looking into. I know if I had a registered chattel mortgage with you as comaker, I'd wait just as long as the law said I had to, to take legal action. Could be a hole in the fence........lol
Knows No Bounds
Posts: 3,154
December 7th, 2006, 07:36 AM
The unstated lesson, of course, is never ever ever co-sign for anybody. The majority of those who do get stuck. There should be a sign in every bank and lending institution: If you're here to co-sign, consult the nearest branch of the Canadian Mental Health Association first.
The unstated lesson, of course, is never ever ever co-sign for anybody. The majority of those who do get stuck. There should be a sign in every bank and lending institution: If you're here to co-sign, consult the nearest branch of the Canadian Mental Health Association first.
Knows Too Much
Posts: 2,093
Location: Backwater, Ontario.
Location: Backwater, Ontario.
December 7th, 2006, 10:23 AM
We always explained to comakers that if party one didn't pay, they HAD TO, NO CHOICE. My friend became unemployed and just didn't have the bucks, so I paid: Should have added that I got my money back years later. Bit of stress at the time however.
Woof.
Quoting tamarin
Yes, well: You have a point for sure. Guess I should have done that. Hindsight being always 20/20, I shan't do it again (cosign that is) I may contact the CMHA at some point though, never know.
The unstated lesson, of course, is never ever ever co-sign for anybody. The majority of those who do get stuck. There should be a sign in every bank and lending institution: If you're here to co-sign, consult the nearest branch of the Canadian Mental Health Association first.
We always explained to comakers that if party one didn't pay, they HAD TO, NO CHOICE. My friend became unemployed and just didn't have the bucks, so I paid: Should have added that I got my money back years later. Bit of stress at the time however.
Woof.
Steven Hawking's Hero
Posts: 6,445
December 7th, 2006, 10:50 AM
CVMetcalfe
Here is a link to some advice:
http://consumer.ic.gc.ca/epic/site/o.../ca01485e.html
You should have a consumer credit counseling service in or near your home town who can advise you on the company harrassing you and what to do.
Note the first thing collection agencies are required to do is send you something in writing. Was this done?
If it is in fact a debt you are responsible for, find out the lowest amount acceptable to them... such as $5.00 a month - and pay it regularly. They have no recourse if you are making a good faith payment.
Sounds like you got one of their hound-dogs by mistake - they shouldn't have been phoning to begin their collection.
Good luck - this is terrible news right at Christmas too!
CVMetcalfe
Here is a link to some advice:
http://consumer.ic.gc.ca/epic/site/o.../ca01485e.html
You should have a consumer credit counseling service in or near your home town who can advise you on the company harrassing you and what to do.
Note the first thing collection agencies are required to do is send you something in writing. Was this done?
If it is in fact a debt you are responsible for, find out the lowest amount acceptable to them... such as $5.00 a month - and pay it regularly. They have no recourse if you are making a good faith payment.
Sounds like you got one of their hound-dogs by mistake - they shouldn't have been phoning to begin their collection.
Good luck - this is terrible news right at Christmas too!
Knows No Bounds
Posts: 3,154
December 9th, 2006, 12:13 PM
But you have to look at it too from the bank or credit agency's point of view: they lent numbnuts money on your word. YOU said by signing that if fiddlestick didn't pay YOU would. The loan was made because YOU covered the risk. Now that dickweed has done what YOU suspected he'd do all along, you're holding the bag. The collection agency is only doing what YOU knew would happen all along. No one is in the dark here.
But you have to look at it too from the bank or credit agency's point of view: they lent numbnuts money on your word. YOU said by signing that if fiddlestick didn't pay YOU would. The loan was made because YOU covered the risk. Now that dickweed has done what YOU suspected he'd do all along, you're holding the bag. The collection agency is only doing what YOU knew would happen all along. No one is in the dark here.
Member
Posts: 120
December 9th, 2006, 01:07 PM
I work for a Bankruptcy Trustee and I can tell you that there are many people who have had to declare bankruptcy because they co-signed loans for others who reneged (for whatever reason) and the creditors have come after them and they were not in the situation to repay. It was a real eye-opener for me. I would NEVER personally co-sign for anyone and based on my experience there, my financial situation is a lot better. I've learnt a great deal from other people's experience and have thus acted accordingly. I'm even much more aware of the various risks out there and act appropriately.
There was a time, many, many years ago, that I was in financial straits due to someone else's actions and it was a very stressful time. However, I learned that if you cooperate with the creditors, they will give you a break. But they also have to be responsible (i.e. they can't harass you) and they do have to provide proof of the debt (even back then). Screaming at you and calling you a liar just doesn't cut it.
I work for a Bankruptcy Trustee and I can tell you that there are many people who have had to declare bankruptcy because they co-signed loans for others who reneged (for whatever reason) and the creditors have come after them and they were not in the situation to repay. It was a real eye-opener for me. I would NEVER personally co-sign for anyone and based on my experience there, my financial situation is a lot better. I've learnt a great deal from other people's experience and have thus acted accordingly. I'm even much more aware of the various risks out there and act appropriately.
There was a time, many, many years ago, that I was in financial straits due to someone else's actions and it was a very stressful time. However, I learned that if you cooperate with the creditors, they will give you a break. But they also have to be responsible (i.e. they can't harass you) and they do have to provide proof of the debt (even back then). Screaming at you and calling you a liar just doesn't cut it.
Newbie
Posts: 1
December 16th, 2006, 08:02 PM
Hi,
Is it about a student loan or traditional consumption debt? There are limitation issues you may want to become aware of as well. What province do you reside in?
You asked if you could ignore them, but they will certianly continue to apply pressure. If you tell them not to contact you - theywill contact you more frequently. You see, debt collectors spend the majority of their time doing two things; 1) contacting people by phone to collect money from them, and; 2) overcoming objections put forward by debtors because they cannot meet the conditions and demands for repayment.
If you would like the problem treated and solved, we can help you if you wish. You can visit us at www.cfwgroup.ca.
Have a safe and Merry Christmas!
Johnny
Hi,
Is it about a student loan or traditional consumption debt? There are limitation issues you may want to become aware of as well. What province do you reside in?
You asked if you could ignore them, but they will certianly continue to apply pressure. If you tell them not to contact you - theywill contact you more frequently. You see, debt collectors spend the majority of their time doing two things; 1) contacting people by phone to collect money from them, and; 2) overcoming objections put forward by debtors because they cannot meet the conditions and demands for repayment.
If you would like the problem treated and solved, we can help you if you wish. You can visit us at www.cfwgroup.ca.
Have a safe and Merry Christmas!
Johnny
Bright Spark
Posts: 324
Location: calgary,ab
Location: calgary,ab
December 17th, 2006, 12:52 AM
Know what pisses me off about them!?? They have been calling LRG's phone since Sept for some chick named Sarah!? We keep telling them that they have the wrong ****ing number but do they stop nooo. I want to find out which company it is and then I am sicking my lawyer on their ass's.
Know what pisses me off about them!?? They have been calling LRG's phone since Sept for some chick named Sarah!? We keep telling them that they have the wrong ****ing number but do they stop nooo. I want to find out which company it is and then I am sicking my lawyer on their ass's.
Time Out
Posts: 4,276
Videos: 1
Location: Richmond, Virginia
Videos: 1
Location: Richmond, Virginia
December 17th, 2006, 01:00 AM
I had the same problem with my first ex. Recently I was getting a law firm calling me. I gave them the info I had and the continued. The last time they called I got ticked and threatened to get a lawyer myself for harrassment.....they stopped. What I want to know is how did they get MY number?! My names been changed and Ive moved several times. The last time I saw or talked to him was 91!!!
I had the same problem with my first ex. Recently I was getting a law firm calling me. I gave them the info I had and the continued. The last time they called I got ticked and threatened to get a lawyer myself for harrassment.....they stopped. What I want to know is how did they get MY number?! My names been changed and Ive moved several times. The last time I saw or talked to him was 91!!!
Member
Posts: 246
December 17th, 2006, 07:44 AM
As I understand it, collection agencies "buy" the bad debts of a company(for a much smaller amount than is owed)...then they try to collect the real amount owing.
I've dealt with a couple of them. A request to speak to a supervisor about boorish behaviour sometimes works.
Credit counsellors can be a godsend...they intervene,work out a very reasonable repayment schedule, and act as YOUR advocate.
As I understand it, collection agencies "buy" the bad debts of a company(for a much smaller amount than is owed)...then they try to collect the real amount owing.
I've dealt with a couple of them. A request to speak to a supervisor about boorish behaviour sometimes works.
Credit counsellors can be a godsend...they intervene,work out a very reasonable repayment schedule, and act as YOUR advocate.
Bright Spark
Posts: 324
Location: calgary,ab
Location: calgary,ab
December 17th, 2006, 10:39 AM
I understand what they do and I understand that for some people they need to do it. what pisses me off is when they come up with the wrong number. They fill up your voice mail and won't stop calling even after you tell them they have the wrong number. They better make sure that they have the right ****ing number before harrassing someone!
I understand what they do and I understand that for some people they need to do it. what pisses me off is when they come up with the wrong number. They fill up your voice mail and won't stop calling even after you tell them they have the wrong number. They better make sure that they have the right ****ing number before harrassing someone!
Mighty Intellect
Posts: 1,978
December 17th, 2006, 11:15 AM
Quoting Nikki
That's because the first line of defense, if you don't want to pay your bills, is to pretend that the person who owes "doesn't live here anymore"...so they never believe that excuse, even when it's true.
They fill up your voice mail and won't stop calling even after you tell them they have the wrong number.
