Collection Agencies

cvmetcalfe
#1
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???
 
Dexter Sinister
#2
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.
 
missile
#3
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.
 
Nuggler
#4
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

Last edited by Nuggler; Dec 7th, 2006 at 07:12 AM..
 
tamarin
#5
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.
 
Nuggler
#6
Quote: Originally Posted by tamarin View Post

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.

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.

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.
 
Curiosity
#7
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!
 
EliteF355
#8
Can't you just tell them to stop ? If you tell them not to call you anymore and they do can it not be harrasment?
 
tamarin
#9
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.
 
shannon
#10
Quote: Originally Posted by EliteF355 View Post

Can't you just tell them to stop ? If you tell them not to call you anymore and they do can it not be harrasment?

 
EliteF355
#11
i guess... but can't we all just get along ? :P
 
Dixie Cup
#12
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.
 
Johnny_at_CFWG
#13
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
Last edited by Johnny_at_CFWG; Dec 16th, 2006 at 09:08 PM..Reason: spelling error
 
Nikki
#14
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.
 
selfactivated
#15
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!!!
 
annabattler
#16
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.
 
Nikki
#17
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!
 
TenPenny
#18
Quote: Originally Posted by Nikki View Post

They fill up your voice mail and won't stop calling even after you tell them they have the wrong number.

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.
 
Nikki
#19
Quote: Originally Posted by TenPenny View Post

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.

I realize that but it is ****ing harrassment. All they need to do is cross refernece the number and they will see the phone belongs to a robert not a ****ing sarah.
 
Dalreg
#20
So the number is listed under Robert big deal. Robert can easily have a wife or girlfriend named Sarah.

It blows my mind as to how many people think they don't have to deal with consequences caused by their own actions. The collection agency comes after you for a reason. Somewhere earlier you have messed up and there is a outstanding bill with your name on it.

Pay up people.
 
justfred
#21



You should find out what the laws are regarding collection of debts. In Alberta, a creditor must start a claim within 2 years of it falling in arrears, or the creditor cannot proceed to judgment. In your case, I would suggest that you find you if they have proceeded to judgment. Find out through your consumer and corporate affairs government office what the time limitations are on commencing legal action.

If they have not met the time limit, and do not have a judgment, the only thing that they can do is yell at you.

If the debt is genuine, they have likely placed the bad credit at the credit bureau and it will stay there for 7 years from the last activity, at which time it falls off.

I certainly would suggest that when they phone, you ask the person for their name, spelling, who they work for, where the office is, full address for the office, including head office, who their supervisor is, and ask them if they have lots of money, as you are suing for harassment. In Alberta, you can file a small debts claim for $25,000, for a fee of $200. and let a judge decide if you get compensation. You should also record all phone calls as to what was said, (tell them you are recording the call on a tape player) as you will be asked to give evidence in court.
 

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