Portfolio Management Canada Inc.
- Thread starter Simpleton
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I am very embarassed to say... I used to work for Portfolio. I started with them in the end of 2004, collecting for Capital One debts owed by Americans. The United States have VERY strict collection laws (Canada's aren't NEAR as strict!), and my way of things were definitely not yelling at ANYONE, however, there were quite a few co-workers that would get quite lippy. Capital One eventually pulled their business, and I was sent over to the dreaded "Canadian Side". I had heard such horrible things, and the weird thing, the collectors on "the other side" even treated the Cap One collectors like crap! When I went over there, I was shocked and appalled :angryfire: to even work for that company! It was absolutely horrible the way the collectors were treating these people!!!!!!!! At that time we weren't on the "dialer"(a computer that calls for you, also sends out those horrible automated messages! kind of like the ones that telemarketers use when you answer and it takes forever for them to answer you back.) all day like they are now! As soon as an internal posting came out for another position, I jumped at it and thankfully got hired, and soon after was put on stress leave. Upon returning from the leave, I found out that they were putting me on the collection floor again... the mere thought of it made me sick, and I very promptly quit. A few things to let you know about PMG... If you have an outstanding debt that has been more than 7 years (that is claimed to be yours anyway) 1. TELL THEM IT IS STAT-BARRED AND DO NOT EVEN SEND A MERE $20 B/C THEN YOUR DEBT IS CONSIDERED TO BE RE-OPENED, WHICH IS WHAT THEY'RE HOPING FOR YOU TO DO!!!! 2. The reason that some of you may not remember these debts is because when they are bought, sometimes they only receive last names and 1st initials of 1st names... so if you have a popular name, they're hoping it's you!!!! 3. Remember that these debts are sometimes so old, and they have the address that the person used to live at. You by no means have any obligation to give these people any information!!!! DO NOT LISTEN to these threats, and I would threaten them with the Better Business Bureau... Portfolio has a lot to lose... they also collect for Bell, CIBC student loans and other high profile places... Good luck to everyone out there who has to deal with these aweful people! I honestly could never even imagine going back there... not to mention a lot of people are quitting b/c they can't handle it anymore!
Thank you very much for sharing your experience working for this company. Don't be embarrassed you used to work there - you weren't abusive and you were just trying to earn a living. I can relate to the stress leave. Years ago, I worked at call centers (not collections though) and constantly felt on edge. One of my first call center jobs was outbound calling for a major bank. It started out as just courtesy calls to existing clients and eventually turned into calling anyone and trying to sell investments. I dreaded going into work. We weren't pushy (a no was a no, and no further explanation was asked), but still when some people heard we were calling from the bank, they'd fly into a rage. I always took that personally. Sadly, where I live, if I wanted to make more than minimum wage and have benefits, call centers were my only choice. Everyone has to eat, you know?
Anyhoo, just wanted to thank you for your insight. Thank you for sharing!
Cynthia
Anyhoo, just wanted to thank you for your insight. Thank you for sharing!
Cynthia
Looking for some advice
Good Morning
I have read the posts here and sounds like this forum has some well informed subscribers.
Let me tell you what brings me here.
I have lived in Nfld, for the last 11 yrs. after leaving an abusive marriage in London, ON
Earlier this week I noticed the # 866-226-8881 on my call display when I came in from doing some gardening. As the only calls I get in that genre are from people trying to sell me something I deleted and forgot about it. Now yesterday I was away all day and had my answering machine turned on. When I got home there was a message from "Debra" asking me to return her call.
I googled Portrait Management thinking they were trying to sell me stocks or something :dontknow:
and found you'all. Now I'm a little scared.
I have had no contact with my ex since I left except for the divorce proceedings that were handled though our lawyers. While we were married the a-hole could never hold a job, spent my money on his own priorities and when he had none he would pawn our belongings to get them and leave it up to me to buy them back. All the bills were in my name and I paid them the best I could.
When I left, I never looked back. So realistically these debts could still be outstanding, it wouldn't surprise me if he never paid any of them. I never heard from anybody that I owed them money.
At the time I simply needed to flee and not be found, if you get my meaning. For a year I moved around alot but I have been in my current address for 10 years. If these companies ie: phone, electric, cable etc. wanted to find me they have their ways, don't they? I just never gave them a second thought.
Now, I don't know if that is what "Debra" is calling about but it has to be from when I was in London because I pay my bills regularly now. I have a copy of my credit report from Equifax last summer, the whole issue of Identity theft had worried me some. I don't really understand the report but under the heading Credit and Banking history it lists No information reported. There is a heading Consumer Interviews and other services that lists a request from CDN Bonded Credits in 2003 to note your file with the following information: Inquiry alert. I have never heard of this company.
I am going to let any calls go through the answering machine until someone (hopefully) can offer some guidance.
Thanks
Good Morning
I have read the posts here and sounds like this forum has some well informed subscribers.
Let me tell you what brings me here.
I have lived in Nfld, for the last 11 yrs. after leaving an abusive marriage in London, ON
Earlier this week I noticed the # 866-226-8881 on my call display when I came in from doing some gardening. As the only calls I get in that genre are from people trying to sell me something I deleted and forgot about it. Now yesterday I was away all day and had my answering machine turned on. When I got home there was a message from "Debra" asking me to return her call.
I googled Portrait Management thinking they were trying to sell me stocks or something :dontknow:
and found you'all. Now I'm a little scared.
I have had no contact with my ex since I left except for the divorce proceedings that were handled though our lawyers. While we were married the a-hole could never hold a job, spent my money on his own priorities and when he had none he would pawn our belongings to get them and leave it up to me to buy them back. All the bills were in my name and I paid them the best I could.
When I left, I never looked back. So realistically these debts could still be outstanding, it wouldn't surprise me if he never paid any of them. I never heard from anybody that I owed them money.
At the time I simply needed to flee and not be found, if you get my meaning. For a year I moved around alot but I have been in my current address for 10 years. If these companies ie: phone, electric, cable etc. wanted to find me they have their ways, don't they? I just never gave them a second thought.
Now, I don't know if that is what "Debra" is calling about but it has to be from when I was in London because I pay my bills regularly now. I have a copy of my credit report from Equifax last summer, the whole issue of Identity theft had worried me some. I don't really understand the report but under the heading Credit and Banking history it lists No information reported. There is a heading Consumer Interviews and other services that lists a request from CDN Bonded Credits in 2003 to note your file with the following information: Inquiry alert. I have never heard of this company.
I am going to let any calls go through the answering machine until someone (hopefully) can offer some guidance.
Thanks
sorry, but I've never found myself in your situation, so I can't give you much advice. I think my first instinct would be to contact my lawyer. The one that got you through the divorce.
I imagine any lawyer worth their salt has come across these guys before, and knows what your rights are.
I imagine any lawyer worth their salt has come across these guys before, and knows what your rights are.
I've had contacts a few months back with a collection agency named "Portfolio Management Solutions," it sounds like it's the same that everyone else in the thread has been dealing with. Sometimes it's hard to tell with companies buying each other and changing their names, etc.
The person handling my case certainly had an interesting way of dealing with me. It seems the best way to get me to pay was to raise his tone, then hang up before I could reply. :roll: When he did it the second time, I was so mad that I called back and barely managed, "Don't call me anymore."
Now they are sending me these financial questionnaires. Mind you, this is after my file was (apparently) sent to the government --- it's for a studen'ts loan --- and then sent to another collection agency, and then finally sent to PMS again.
I was willing to play along and fill one out, then send it out. But then they sent me a second one, asking for 'proof' of income and expenses, or else they would recommend legal actions (we've all heard that one before). Since I make very little money, and I never write up bills or give receipts, I'm at a loss about what to send for proof.
I can't even prove that I'm making the small amount of money I am right now. Should I even bother to fill these out anymore? Evidently they can't just take my word for it.
The person handling my case certainly had an interesting way of dealing with me. It seems the best way to get me to pay was to raise his tone, then hang up before I could reply. :roll: When he did it the second time, I was so mad that I called back and barely managed, "Don't call me anymore."
Now they are sending me these financial questionnaires. Mind you, this is after my file was (apparently) sent to the government --- it's for a studen'ts loan --- and then sent to another collection agency, and then finally sent to PMS again.
I was willing to play along and fill one out, then send it out. But then they sent me a second one, asking for 'proof' of income and expenses, or else they would recommend legal actions (we've all heard that one before). Since I make very little money, and I never write up bills or give receipts, I'm at a loss about what to send for proof.
I can't even prove that I'm making the small amount of money I am right now. Should I even bother to fill these out anymore? Evidently they can't just take my word for it.
I am an ex-collection manager and have worked in the industry for close to 20 years. I now own a credit counselling company to help people who owe money repay their debts to numerous creditors. If there are any questions that I can help with, please post them and I will respond as quick as I can. Please know that I will assist on this thread for those that do not know what to do and what their rights are but not help people avoid their responsiblities or people that exaggerate their claim with a collection company. I agree that collection companies can be aggressive and some collectors are absolutely terrible (lack of training and poor regard for other human beings) but there are also some collectors that are not bad to work with. I have found that most times the terrible sitaution or contact is a result of both people having their backs up against the wall. So if I can help, I will.
To the Milkman, if it is a government debt for student loans, the government mandates the collection agency what forms need to be filled out, how much they can accept in monthly payments, etc and if you are ever owed any money (gst, income tax) that government will just take that and not issue you the payment. I would fill out the forms and if your income/expenses justify minimal payments then the collection agency will accept that or if your situation justifies a "hardship" case, then you can apply for that as well but you will have to prove your income/expense. Student loans and debts to government are tough as they never go away and you can never get a settlement (reduced payout to close the file). Good luck
To the Milkman, if it is a government debt for student loans, the government mandates the collection agency what forms need to be filled out, how much they can accept in monthly payments, etc and if you are ever owed any money (gst, income tax) that government will just take that and not issue you the payment. I would fill out the forms and if your income/expenses justify minimal payments then the collection agency will accept that or if your situation justifies a "hardship" case, then you can apply for that as well but you will have to prove your income/expense. Student loans and debts to government are tough as they never go away and you can never get a settlement (reduced payout to close the file). Good luck
I just checked on the government website in my province and the Act states that debtors have a 6 year limitation in which to start legal action to recover money from unsecured creditors, landlords, bank loans, credit cards, finance companies. When the account goes into arrears it get reported to the credit bureau, and remains on their files for 6 years at which time your name must be removed. In my province the only provision for the debt limitation to be extended is if the consumers does one of two things. Gives a written promise to the creditor to repay the amount, or to make a partial payment on that debt. Either option allows the creditor to start the 6 years all over again. By refusing to give them either of these option, this company or any like them have no legal recourse to collect the debt.
So anyone out there that is being bothered by this or any other company like them, if the debt is older than 6 years just ignore it, because they cannot legally collect the debt, nor can they put your name back onto a credit reporting agency's files as a bad credit risk.
So anyone out there that is being bothered by this or any other company like them, if the debt is older than 6 years just ignore it, because they cannot legally collect the debt, nor can they put your name back onto a credit reporting agency's files as a bad credit risk.
Potfolio Management Canada
In New Brunswick the statute of limitations for filing a suit is 6 years. When I got my last report from Aquafax it was printed on the bottom that entries were removed after 6 year, not 7. Also in New Brunswick there is no garnishment of wages except for things like child support of government debt. personal debt cannot be collected in NB through garnishment of wages. Creditors only recourse in NB is Small Claims Court, and even there they have only 6 years in which to file a claim with the court, and as I said garnishment is not one of the remedies available to recover personal debt in NB.
From the tone of your remarks my guess would be that you work for either PMC or some company like them.
In New Brunswick the statute of limitations for filing a suit is 6 years. When I got my last report from Aquafax it was printed on the bottom that entries were removed after 6 year, not 7. Also in New Brunswick there is no garnishment of wages except for things like child support of government debt. personal debt cannot be collected in NB through garnishment of wages. Creditors only recourse in NB is Small Claims Court, and even there they have only 6 years in which to file a claim with the court, and as I said garnishment is not one of the remedies available to recover personal debt in NB.
The real truth about credit is that by using credit cards and even borrowing from banks or other financial institutions it is not real money. Banks presently lend out on paper far more than the bank actually has on deposit. When you buy a car and the bank gives you a money draft to pay for it, all that is really happening is that it is a transfer from account to account of virtual money, the actual money does not exist. If there was ever another depression and there was a run on the banks by people looking to get their money out, the banks would quite simply have to close their doors, because they do not have enough money to cover all of the money on deposit, because they have loaned the same money out many times over at the same time.
To better understand what credit really means to the monatary system pick up a copy of a book written by Paul Helyer, former Deputy Prime Minister under Pierre Trudeau, called "The Evil Empire."
To better understand what credit really means to the monatary system pick up a copy of a book written by Paul Helyer, former Deputy Prime Minister under Pierre Trudeau, called "The Evil Empire."
That's the thing. I don't know how to 'prove' my income. For instance, if I begin writing receipts (which I don't, because the amounts are so petty... we're talking $20 and the like), would there even really be a point in sending them a copy? I couldn't prove that I'm not just making it up on the spot.
My income changes on a monthly basis as well, sometimes being as much as double as the previous month, then dropping back down, etc.. The closest to a proof that I have is my income tax and benefit return. But it's not very representative as I haven't been in business long enough.
The only 'bright' spot is that my monthly income is well below the minimum monthly payment required of me. Like, not even half(!). I'm working for pocket change and peanuts.
If the collection agency is collecting student loan debt, they should have one person designated as the "PCA Co-Ordinator" that is the liaison between the Student Loan Collection Dept at the Government and the Collection Agency. Call and speak to that person and advise of your situation and tell him/her that you want to apply for hardship as your income level is low. They will advise you the right thing to do. If they are not helpful or rude or not willing to assist, advise them in a calm manner that you will contact the Student Loan Dept yourself about their lack of customer service and this should change their tone.
Collection Agency can lose "points" in their standings against the other collection agencies if any customer complains to the government. This loss of points can affect how many new accounts the government gives to the agency in the future so all agencies will do whatever they can to avoid this and the PCA person understands this better than anyone else within their company. Talk to them.
Collection Agency can lose "points" in their standings against the other collection agencies if any customer complains to the government. This loss of points can affect how many new accounts the government gives to the agency in the future so all agencies will do whatever they can to avoid this and the PCA person understands this better than anyone else within their company. Talk to them.
I Have Dealt With Them
Ok So Heres The Scoop. You Racked Your Self In Debt. You Didnt Pay Your Bills. Your Bill Was Sent To Collections. You Didnt Pay For Some Reason. Here Is Where Portfolio Comes In. They Buy The Debt And Help You Pay For It 1) At Lower Interest 2) With In Your Means. If Its Not You, Tell Them But You Have To Prove It. As For Operating Under The Legal Guide Lines Of Information Protecting And Debt Collecting Laws, They Follow Them First Hand. Mostly They Are There To Help You Out. So Dont Give Them A Hard Time, They Are Trying To Work For You And Help You Out. All You People Trying To Sherk Your Responsibilities Should Be Ashamed Of Your Selves. They Arnt A Scam, You Own The Bill, You Got The Service, Have The Decency To Own Your Mistakes. And After You Dealt With Them, My Advice Would Be, Stop Using Services You Have No Intentions 1) Paying 2)cant Afford. And Second Advice Stop Buying Things On Credit, Especially If You Cant Afford It Now You Wont Afford It When The Time Expires. There Are No Free Rides In This World So Dont Get Sucked In.
Ok So Heres The Scoop. You Racked Your Self In Debt. You Didnt Pay Your Bills. Your Bill Was Sent To Collections. You Didnt Pay For Some Reason. Here Is Where Portfolio Comes In. They Buy The Debt And Help You Pay For It 1) At Lower Interest 2) With In Your Means. If Its Not You, Tell Them But You Have To Prove It. As For Operating Under The Legal Guide Lines Of Information Protecting And Debt Collecting Laws, They Follow Them First Hand. Mostly They Are There To Help You Out. So Dont Give Them A Hard Time, They Are Trying To Work For You And Help You Out. All You People Trying To Sherk Your Responsibilities Should Be Ashamed Of Your Selves. They Arnt A Scam, You Own The Bill, You Got The Service, Have The Decency To Own Your Mistakes. And After You Dealt With Them, My Advice Would Be, Stop Using Services You Have No Intentions 1) Paying 2)cant Afford. And Second Advice Stop Buying Things On Credit, Especially If You Cant Afford It Now You Wont Afford It When The Time Expires. There Are No Free Rides In This World So Dont Get Sucked In.
Wow, tinydancer. You aren't condescending. But perhaps you are right! I should not have obtained a higher education! Clearly I couldn't afford it. :roll:
(Is there any reason you are capitalizing each and every word?)
(Is there any reason you are capitalizing each and every word?)
I am so very happy to have found this information. I have had the most upsetting experience in dealing with Financial Management Solutions. They called me back in July telling me I owed them almost $1400 for an outstanding debt that was sold to them by TD Canada Trust. I had a student line of credit that was paid off in 2004, this is my only dealing ever with TD. I was very concerned so I called TD and they had a heck of a time finding my information, but finallly did. They showed a zero balance, the line of credit had been paid off. I called Financial Management, told them this and they seemed ok with this. 2 weeks later I got a letter from FM stating the same information. I called them and the lady I dealt with said, Oh, the letter was sent before I talked to them and to disregard it. A week later, the same lady called back, saying that I would have to provide them with proof of the repayment. I have no proof. I don't keep records for that long (my fault!!). They told me to contact
TD to get proof. Again, I had a heck of time with TD trying to get my information and they said the balance showing was zero. I asked them to mail me a print out, they said they couldn't, their system had been "purged". I called FM back, and asked them to provide me with the proof, and they said they had no proof of the details of the debt and to go back to TD.... unfortunately my anger got the best of me, and I told them TD had purged their information. The lady at FM then told me, "we didn't pull your name out of a hat, you owe us this money". I said, NO I don't. At a weak moment I started crying (extremely frustrating to be told you owe money when you know damn well you don't). She must have had compassion because she talked with their "pre-legal" department, and told me that if I "wrote up an affidavit stating that I swore I had paid it, they would close the account". I've never had to do this, so I asked her how. She said, write out a statement, take it to the police or a lawyer, they will witness it, and that is it! She then said "it should be free for a lawyer to do this". Has anyone heard tell of this? I don't know if a lawyer will do anyting for free? I need help!! I've applied for credit, recently got a mortgage, with no problem. I belong to "CREDIT ALERT" and have looked at my report and see no information about this so called debt! Help me, I'm so frustrated and upset!!
TD to get proof. Again, I had a heck of time with TD trying to get my information and they said the balance showing was zero. I asked them to mail me a print out, they said they couldn't, their system had been "purged". I called FM back, and asked them to provide me with the proof, and they said they had no proof of the details of the debt and to go back to TD.... unfortunately my anger got the best of me, and I told them TD had purged their information. The lady at FM then told me, "we didn't pull your name out of a hat, you owe us this money". I said, NO I don't. At a weak moment I started crying (extremely frustrating to be told you owe money when you know damn well you don't). She must have had compassion because she talked with their "pre-legal" department, and told me that if I "wrote up an affidavit stating that I swore I had paid it, they would close the account". I've never had to do this, so I asked her how. She said, write out a statement, take it to the police or a lawyer, they will witness it, and that is it! She then said "it should be free for a lawyer to do this". Has anyone heard tell of this? I don't know if a lawyer will do anyting for free? I need help!! I've applied for credit, recently got a mortgage, with no problem. I belong to "CREDIT ALERT" and have looked at my report and see no information about this so called debt! Help me, I'm so frustrated and upset!!
Melly, I don't have much knowledge in the area, and I don't know if it's good advice or not, but if I were you I'd look into the affidavit route. If it turns out a lawyer WILL do it for free (it should only take one phone call to find out) then you've got yourself a way out.
An affidavit is a sworn statement. There are forms out there that are available for free, some of them you can even download from the web, fill them out, and print them. You do need the signature of a lawyer, which I assume is what they mean by the free part.
You might also want to look around and see if there are any nonprofit organizations that help people with debt issues, they may be able to provide free legal advice or at least point you in the right direction.
You might also want to look around and see if there are any nonprofit organizations that help people with debt issues, they may be able to provide free legal advice or at least point you in the right direction.
Thanks to you both for replying so quickly, this is so frustrating. I've also got a call into have my credit report verified again just to be sure. Would you suggest that if nothing is listed, just to tell these people they are mistaken and to get lost?
I so appreciate the support!
I so appreciate the support!
Melly - If nothing is listed on your c/b from TD but PMG believes you owe this because they bought this debt from TD, PMG may still list this on your bureau with their collection item so I don't recommend telling them to get lost. If you look on their website,it talks about a custome counselling team to help their customers. If this team does exist, which probably is more of a sales pitch for their website than anything else, talk to them or ask to speak to the manager of their collection floor. Don't settle for talking to a floor manager but make sure you talk to the division manager or collection manager. Tell them your situation and tell them to provide proof that you owe this debt. If they cannot provide proof, advise them to close the account and send you a letter stating the account is closed because the onus is on them to prove the debt is outstanding if you ask for proof (i.e. last statement, etc). If they can provide proof and you owe it, then you will have to pay it but if you know it is paid then you have nothing to worry about.
Also, most lawyers and notaries will not sign an affidavit as mentioned by PMG as they know that these professions will not sign that type of document without knowing it was paid with proof and if you don't have any, a lawyer or notary will not sign a document saying it was just based on your word. Sorry.
Also, most lawyers and notaries will not sign an affidavit as mentioned by PMG as they know that these professions will not sign that type of document without knowing it was paid with proof and if you don't have any, a lawyer or notary will not sign a document saying it was just based on your word. Sorry.