one last thing is that they will try and defend their position by saying they are doing nothing wrong and may even try and demand the full amount again but stick to your $50 bi-weekly payments and they will accept it. I know it is upsetting but dont let it bother you. They will accept the repayment under your terms.
Portfolio Management Canada Inc.
- Thread starter Simpleton
- Start date
makes no sense
so... what happened in all of these phone calls?- Did you not answer? Was he waiting for something from you?- It makes no sense that someone would just keep calling you if all was arranged and you fulfilled your responsabilities. If you came to a satisfactory resolution, there would be no reason for him to call. Did you pay what you said you would? Did you hold up your end of the bargain? whatever happened to these letters you sent and Emailed?
Portfolio Management Canada Inc SCAM
I received a call from this company yesterday claiming that I owe $2,000 from an Amex credit card account. I am very sure that I do not owe Amex anything. I had a card and cancelled it long time ago. I do not have receipts anymore since I shredded old accounts five years ago. From what I have read in this forum, they are scamming people. I am going to report this to the police in Hamilton. Any advice in dealing with this scamming company? Everybody in this same situation should report to the police. The more reports, the more chance that this company can be closed. How do they obtain credit card accounts if there are no outstanding balance? Is Amex or some employees part of the scam too? I hope we can shut this company.
I received a call from this company yesterday claiming that I owe $2,000 from an Amex credit card account. I am very sure that I do not owe Amex anything. I had a card and cancelled it long time ago. I do not have receipts anymore since I shredded old accounts five years ago. From what I have read in this forum, they are scamming people. I am going to report this to the police in Hamilton. Any advice in dealing with this scamming company? Everybody in this same situation should report to the police. The more reports, the more chance that this company can be closed. How do they obtain credit card accounts if there are no outstanding balance? Is Amex or some employees part of the scam too? I hope we can shut this company.
please note that Pmci is a very legitimate company you may want to look int the web of Aktiv Canada for more information. Also note that if you are being called about a TD card you never held it may be so but TD cards prev were the citibannk mc . which many of you may have held
Hello!!
I have a 2000 dollars credit debt. because i haven't made a payment in a year, they told me my account is with PMCI. I changed address and they probably tried to contact, I am so scared i got sued, does anyone knows if they sue people a lot for a 200o dollars debt.
Thank you
I have a 2000 dollars credit debt. because i haven't made a payment in a year, they told me my account is with PMCI. I changed address and they probably tried to contact, I am so scared i got sued, does anyone knows if they sue people a lot for a 200o dollars debt.
Thank you
Portfolio Managment Canada
Portfolio Management Canada, Has recently Been Bought By Another Company Called
Aktiv Capital, They have taken over Portfolio Management Canada, If you have any issues you can look up the website on google. this company is by far the worst one ever.
all they could ever do is threaten you, if you ever see a number on your on Your Caller Id From 519-432-0075 Ignore it, or 1-866-226-8881, or 1-866-225-9504, Don't pick up your phone do not acknowlegde your debt, tell them it is a wrong number, the person used to board there but not anymore,. tell then you would like to see the original loan documents, this will buy you some good time as well. as far as paying your Debt is it the lay that no payents can be refused, not even 10$/ a month. if you would like to make a complaint against a collector or the company you may do so with the Ministry of Consumer Affairs, they wil perform a thourought investigation reguarding this, and may even loose their collecting licsences, as far as calls, they are only allowed to call 3 times a week any more then what the law states, can be put in the form of a complaint, swrite down how many times they call. if you are to settle anything if you take this route, make shure you get something in writing that says this is the settlement that both parties agreed on, and make shure the letter is in YOUR POSSESSION before you even send them ANY MONEY. and when paid make shure you get a letter saying you have been releived fromyour debt. if anyone would like mor einfo they are located at 130 dufferin Street, in london ontario,
Portfolio Management Canada, Has recently Been Bought By Another Company Called
Aktiv Capital, They have taken over Portfolio Management Canada, If you have any issues you can look up the website on google. this company is by far the worst one ever.
all they could ever do is threaten you, if you ever see a number on your on Your Caller Id From 519-432-0075 Ignore it, or 1-866-226-8881, or 1-866-225-9504, Don't pick up your phone do not acknowlegde your debt, tell them it is a wrong number, the person used to board there but not anymore,. tell then you would like to see the original loan documents, this will buy you some good time as well. as far as paying your Debt is it the lay that no payents can be refused, not even 10$/ a month. if you would like to make a complaint against a collector or the company you may do so with the Ministry of Consumer Affairs, they wil perform a thourought investigation reguarding this, and may even loose their collecting licsences, as far as calls, they are only allowed to call 3 times a week any more then what the law states, can be put in the form of a complaint, swrite down how many times they call. if you are to settle anything if you take this route, make shure you get something in writing that says this is the settlement that both parties agreed on, and make shure the letter is in YOUR POSSESSION before you even send them ANY MONEY. and when paid make shure you get a letter saying you have been releived fromyour debt. if anyone would like mor einfo they are located at 130 dufferin Street, in london ontario,
they may sue for 2,000$ but not worth their time and court fees and paper work, and according to the law they cant sue anything under 1,500
Thank U Freeman haurd
Thank you Freeman Haurd!!!!!!!!!!!!
I rarely post on forums but i had to thank you for this list of questions.
I have applied it with a tape recorder and it delivers amazing results,
anyone being harrassed by collection agencies, fed up with feeling powerless
this will give you a definate lift!
also for those of you knew to this forum, check out excollectors comments, he is right on the money, with the exception of stat barred now being 2yrs in Ontario
Thank you Freeman Haurd!!!!!!!!!!!!
I rarely post on forums but i had to thank you for this list of questions.
I have applied it with a tape recorder and it delivers amazing results,
anyone being harrassed by collection agencies, fed up with feeling powerless
this will give you a definate lift!
also for those of you knew to this forum, check out excollectors comments, he is right on the money, with the exception of stat barred now being 2yrs in Ontario
Interest?
Can Portfolio Management charge you interest? I have been told that they can over the phone, but, none of the written responses I have received from them mention interest. I have an old Citibank credit card debt that they bought, or so they say. I don't mind paying the money back, but, at the same time, I don't want to get screwed. Thanks In Advance.
Can Portfolio Management charge you interest? I have been told that they can over the phone, but, none of the written responses I have received from them mention interest. I have an old Citibank credit card debt that they bought, or so they say. I don't mind paying the money back, but, at the same time, I don't want to get screwed. Thanks In Advance.
I'm wondering about this as well: If a debt has been purchased outright from a credit institution (as in the case of PMCI, now Aktiv Kapital), where do their interest rates come from? Are they arbitrarily set, or for that matter, can interest on a debt be disputed?
Portfolio Management (Aktiv Kapital) says it's not subject ot collection agengy act
Hi, Portfolio Man. (Aktiv Kapital) wrote me a letter after I asked them for copies of the original agreement, for statements, etc. They claim they bought out an old MBNA account and are taking me to small claims court. In their claim, the only "proof" they have are screenshots of their database, a 2004 signed statement from their own manager saying they bought a bunch of debts from MBNA over certain dates (no account details), and a signed paper from MBNA saying they sold a bunch of debts. Also - a statement from TransUnion from June 2008 with their account and MBNA's listing date of last activity as Sept. 3, 2002.
My TransUnion statement from July 2008 - MBNA isn't on it. The only bad item is Portfolio's, saying account opened Jan. 2004. No date of last activity, no mention of MBNA. This supports my claim that my last activity with MBNA was Feb. 2002, but I can't prove it.
Both papers Portfolio gives in its claim say that MBNA will not provide all the files. An agreement between MBNA and Portfolio is mentioned, but no copy of the agreement is included.
If Portfolio isn't subject to the Collections Act (they say they aren't a collections agency) then what other Acts would they be subject to? Surely, they need some kind of proof that they actually bought an account of mine from MBNA - some proof of the date of last activity, some proof that even buying the accounts was legal (did MBNA have the right to sell mine? I never signed anything to that effect)
My account with MBNA should be past the statute of limitations. Do I have to prove this, or does Portfolio? If the CRA info is conflicting, where does that leave me?
Sorry this is so complicated. Portfolio has been a real p---k using many of the tricks listed here, but I have had no contact with them other than asking for proof - twice. This letter saying they don't need to give me any is the first time they answered, and I guess that's because they have filed a claim in small claims.
I have asked Equifax and TransUnion to fix their info, but haven't heard back, yet, and doubt I will before my deadline to submit my defense.
So, two questions - what Acts cover Portfolio, and any advice on how I can defend myself when no one seems willing to give me any documentation?
Your site has been incredibly helpful so far, and I will let you all know how this works out so that others can benefit as well.
thanks!
Hi, Portfolio Man. (Aktiv Kapital) wrote me a letter after I asked them for copies of the original agreement, for statements, etc. They claim they bought out an old MBNA account and are taking me to small claims court. In their claim, the only "proof" they have are screenshots of their database, a 2004 signed statement from their own manager saying they bought a bunch of debts from MBNA over certain dates (no account details), and a signed paper from MBNA saying they sold a bunch of debts. Also - a statement from TransUnion from June 2008 with their account and MBNA's listing date of last activity as Sept. 3, 2002.
My TransUnion statement from July 2008 - MBNA isn't on it. The only bad item is Portfolio's, saying account opened Jan. 2004. No date of last activity, no mention of MBNA. This supports my claim that my last activity with MBNA was Feb. 2002, but I can't prove it.
Both papers Portfolio gives in its claim say that MBNA will not provide all the files. An agreement between MBNA and Portfolio is mentioned, but no copy of the agreement is included.
If Portfolio isn't subject to the Collections Act (they say they aren't a collections agency) then what other Acts would they be subject to? Surely, they need some kind of proof that they actually bought an account of mine from MBNA - some proof of the date of last activity, some proof that even buying the accounts was legal (did MBNA have the right to sell mine? I never signed anything to that effect)
My account with MBNA should be past the statute of limitations. Do I have to prove this, or does Portfolio? If the CRA info is conflicting, where does that leave me?
Sorry this is so complicated. Portfolio has been a real p---k using many of the tricks listed here, but I have had no contact with them other than asking for proof - twice. This letter saying they don't need to give me any is the first time they answered, and I guess that's because they have filed a claim in small claims.
I have asked Equifax and TransUnion to fix their info, but haven't heard back, yet, and doubt I will before my deadline to submit my defense.
So, two questions - what Acts cover Portfolio, and any advice on how I can defend myself when no one seems willing to give me any documentation?
Your site has been incredibly helpful so far, and I will let you all know how this works out so that others can benefit as well.
thanks!
Please give me some more info
hi dear friends dealing with scammers, excuse my English but Ill do my best.
First, i got a letter from Portfolio Mgmt last autumn, just after I asked a credit report to equifax, which was a good thing I did. They said I owed near 2000$ from Amex but that debt is old and nothing showed on my credit report at all from them. And also what convinced me first to doubt about Portfolio is that they have ILLEGALY used I am sure the logo of AMEX on their own letter with their own address pretending this was from Amex !!! unbelievable! I didn't answer after I checked this place and they sent me 2 other letters before and after Christmas. I replied that my credit report was ok and that I didn't owe anything to them anymore and told them they were known on this site for being scammers and that they used the Amex logo with no rights to do so.They stopped sending me letters for 4 months until now, with their new company Aktiv Kapital. They just say that they changed their name without mentioning who they were before like they were ashamed of it. ;-) but that letter sounded more professional , as the other ones really lacked intelligence, it was poorly written, with slogans to make me want to pay them like they were doing me a favor, like they were selling me a car. And now they have sent me a copy of my bill with the amount on it and account number BUT it is dated from spring 2002!
so
my question please, even their supposed proof isn't good since its older than 6 yrs right?
and if nothing appears on my credit report, then I don't owe anything?
they are scammers anyway by using the Amex logo and they wont even call me at home, collectors who know they have rights to collect will call you right away I bet.
Thanks, Ill put more info if needed later. I cant believe that some people do that for a living, to harass people with no feeling of remorse. Poor people...they are poorer than we are...
hi dear friends dealing with scammers, excuse my English but Ill do my best.
First, i got a letter from Portfolio Mgmt last autumn, just after I asked a credit report to equifax, which was a good thing I did. They said I owed near 2000$ from Amex but that debt is old and nothing showed on my credit report at all from them. And also what convinced me first to doubt about Portfolio is that they have ILLEGALY used I am sure the logo of AMEX on their own letter with their own address pretending this was from Amex !!! unbelievable! I didn't answer after I checked this place and they sent me 2 other letters before and after Christmas. I replied that my credit report was ok and that I didn't owe anything to them anymore and told them they were known on this site for being scammers and that they used the Amex logo with no rights to do so.They stopped sending me letters for 4 months until now, with their new company Aktiv Kapital. They just say that they changed their name without mentioning who they were before like they were ashamed of it. ;-) but that letter sounded more professional , as the other ones really lacked intelligence, it was poorly written, with slogans to make me want to pay them like they were doing me a favor, like they were selling me a car. And now they have sent me a copy of my bill with the amount on it and account number BUT it is dated from spring 2002!
so
my question please, even their supposed proof isn't good since its older than 6 yrs right?
and if nothing appears on my credit report, then I don't owe anything?
they are scammers anyway by using the Amex logo and they wont even call me at home, collectors who know they have rights to collect will call you right away I bet.
Thanks, Ill put more info if needed later. I cant believe that some people do that for a living, to harass people with no feeling of remorse. Poor people...they are poorer than we are...
I was a victim of restructuring from those Portfolio bastards, and they have recently cut close to 60-70 staff. In my opinion, they are going downhill.
First of all, regarding the 6 year limitation, it doesn't start from 1998 when you opened the account but rather, when it did go delinquent, however, you said in your first paragraph that you paid it off in 2003 which completely renews the limitation date. Once you make a payment and then go delinquent again, it renewed the limitation. As far as the five years that you didn't hear from anyone, that can be blamed on the original creditor giving up for a period and then selling the old debts to new collection companies, obviously this one being PMCI, now known as Aktiv Kapital. This is a real company, and is one of the largest in Canada now for debt acquisitions (buying old debts) and unfortunately, debt is a huge business right now. Why?? Because too many people are getting themselves in debt, some on purpose, because they think they can beat the system. But the companies are getting smarter and there are too many avenues to find information now on people. I have the ultimate solution!!! Pay your bills and don't get into that much debt!!! Problem solved. Then those debt collection companies will go downhill. If the general public will just pull together, and smarten their asses up, and stop putting themselves in this position, then they will go out of business. Wouldn't that be nice. That's my plan to keep those pricks away from my home and my life.
Ok, so here it is. They have the proof of the purchase of your debt from MBNA, and most likely, the judge will ask for it. Just because they buy them in bunches, doesn't mean anything. There is a long version of specific debts with account numbers. They don't need your permission to sell your account once it is delinquent. If you have not made a payment on the account for more than six years, then challenge them on the limitation date. They will have to be the ones to prove it. All you have to say on your defense is that you challenge them to the strictest proof thereof. Even if your defense is filed a week or two late, you will get your day in court. Just be mindful, that if you don't file a defense, they can get Default Judgment after 45 days if you don't file your defense. Then they can file for either a Garnishment or a Writ on your property if you have any. But even if you file a late defense, that will stop all of that. You will get your day in court. If they don't prove their case, then a judge can throw it all out.
I recommend to anyone and everyone out there, ALWAYS FILE YOUR DEFENSE!!!! EVEN IF IT'S LATE!!!! MAKE THEM PROVE THEIR CASE AND IT PREVENTS THEM FROM GETTING JUDGMENT WITHOUT YOUR KNOWLEDGE AND GOING FURTHER THAN YOU WANT IT TO. If they have any proof, you have the opportunity to offer smaller payments, and to avoid judgment, and you can try to settle out, for a much lower amount. But keep that info to yourself until your day in court with a judge. Make the judge feel your sympathy. The judges in the small claims court system are not usually favourable to collection companies, however, if they find out you're lying, they will reap you through the coals. But the opportunity is there to get sympathy on your side. Cry the blues about all your bills, payments, kids, costs....everything. Work it to your advantage.
Ok, done ranting. Good luck. Hope some of this helps.
Collectcorp Inc.
MY SON DEFAULTED ON A LOAN AT TD SINCE OCT 07. WE MOVED BUT WE DID EVENTUALLY GET A LETTER FROM CBCL WITH THE AMOUNT DUE AND A LETTER SAYING THAT THE ACCOUNT HAD BEEN ASSIGNED TO THEIR OFFICE AND WHERE A PAYMENT COULD BE MADE. MY SON NO LONGER LIVES HERE AND I GAVE THE LETTER TO HIM. NONE OF MY BUSINESS SO I NEVER ASKED HIM ABOUT IT AGAIN. 3 MONTHS LATER WE GOT A LETTER, STATING THE SAME LOAN AMOUNT DEFAULTED AT TD, BUT THIS LETTER CAME FROM COLLECTCORP. INC. AND SINCE THEN WE HAVE RECEIVED A FEW CALLS LOOKING FOR OUR SON FROM COLLECTCORP INC. MY SON HAS MADE A "DEAL" WITH COLLECTCORP INC TO PAY A LUMP SUM OF X NUMBER OF DOLLARS AND THIS WILL BE CONSIDERED AS A SETTLEMENT FOR THE ENTIRE AMOUNT.
MY QUESTION IS THIS: HOW IS MY SON ENSURED THAT THIS NEWEST AGENCY ACTING ON BEHALF OF TD IS THE AGENCY THAT HAS THE AUTHORITY TO ACCEPT THE "DEAL" AMOUNT, NOT THE WHOLE AMOUNT, AS A FINAL SETTLEMENT? THEY CONTINUE TO STATE IN A FAX MY SON GOT TODAY, THAT ONCE THE AGREED AMOUNT REACHES THEM TOMORROW THROUGH A DEPOSIT VIA TD CANADA TRUST TO THE ACCOUNT NAMED COLLECTCORP INC STATING MY SON'S CASE NUMBER, THAT THEY WILL THEN MAIL HIM A FULL LETTER STATING THAT THE SETTLEMENT IN NOW COMPLETE.
HOW DOES MY SON GET ENSURED THAT THE OTHER COLLECTION AGENCY, THE 1ST ONE, CBCL WON'T CONTINUE TO TRY AND COLLECT FROM HIM AS WELL? HE WAS NEVER GIVEN A LETTER FROM TD TELLING HIM THAT THEY HAD CHANGED COLLECTION AGENCIES SOMEWHERE ALONG THE LINE AND NO ONE AT THE BRANCH KNOWS WHO HE CAN ACTUALLY TALK TO THAT ACTUALLY WORKS FOR TD.
MY SON DEFAULTED ON A LOAN AT TD SINCE OCT 07. WE MOVED BUT WE DID EVENTUALLY GET A LETTER FROM CBCL WITH THE AMOUNT DUE AND A LETTER SAYING THAT THE ACCOUNT HAD BEEN ASSIGNED TO THEIR OFFICE AND WHERE A PAYMENT COULD BE MADE. MY SON NO LONGER LIVES HERE AND I GAVE THE LETTER TO HIM. NONE OF MY BUSINESS SO I NEVER ASKED HIM ABOUT IT AGAIN. 3 MONTHS LATER WE GOT A LETTER, STATING THE SAME LOAN AMOUNT DEFAULTED AT TD, BUT THIS LETTER CAME FROM COLLECTCORP. INC. AND SINCE THEN WE HAVE RECEIVED A FEW CALLS LOOKING FOR OUR SON FROM COLLECTCORP INC. MY SON HAS MADE A "DEAL" WITH COLLECTCORP INC TO PAY A LUMP SUM OF X NUMBER OF DOLLARS AND THIS WILL BE CONSIDERED AS A SETTLEMENT FOR THE ENTIRE AMOUNT.
MY QUESTION IS THIS: HOW IS MY SON ENSURED THAT THIS NEWEST AGENCY ACTING ON BEHALF OF TD IS THE AGENCY THAT HAS THE AUTHORITY TO ACCEPT THE "DEAL" AMOUNT, NOT THE WHOLE AMOUNT, AS A FINAL SETTLEMENT? THEY CONTINUE TO STATE IN A FAX MY SON GOT TODAY, THAT ONCE THE AGREED AMOUNT REACHES THEM TOMORROW THROUGH A DEPOSIT VIA TD CANADA TRUST TO THE ACCOUNT NAMED COLLECTCORP INC STATING MY SON'S CASE NUMBER, THAT THEY WILL THEN MAIL HIM A FULL LETTER STATING THAT THE SETTLEMENT IN NOW COMPLETE.
HOW DOES MY SON GET ENSURED THAT THE OTHER COLLECTION AGENCY, THE 1ST ONE, CBCL WON'T CONTINUE TO TRY AND COLLECT FROM HIM AS WELL? HE WAS NEVER GIVEN A LETTER FROM TD TELLING HIM THAT THEY HAD CHANGED COLLECTION AGENCIES SOMEWHERE ALONG THE LINE AND NO ONE AT THE BRANCH KNOWS WHO HE CAN ACTUALLY TALK TO THAT ACTUALLY WORKS FOR TD.
i cant help much since I didnt get any answers myself here but I remember years ago that they had changed the collectors too cause the first one couldnt get anything from me. And the second was legit too, but these here Portfolio are not after 6 yrs, but your case is only one year old or so, so I would try to contact TD to make sure but I dont think you would have any problems with the first agency since you are supposed to get a proof it was paid, just make sure they are not another company trying to get money under the name of Collect Corp, we never know. There is surely a number to call at TD to know who is now in charge of the debt, if not tell them that even TD dont know so you wont pay until you get a proof of that.
Thats what I would do.
Thats what I would do.
update
Their reort date at the top was an earlier date than the actual report! How can they print a report before the date of the report? Doctored, I figured. Then I noticed on my own TU report that no query had been made by PM Inc. since Oct. 2006. In fact, no querry had been made since then by anyone, except an unrelated agency I was aware of.
I called TU, they confirmed that Portfolio had not made a query, and suggested I contact the Consumer Protection Agency - even gave me the contact info to do so.
I called CPA and the guy was stunned at what I related - and I told the complete truth - no point lying - and wants to see all the documentation.
So it seems they got a CR from somewhere, without authorization, not authorized by TU, and it appears doctored.
Also, I called equifax to ask what exactly was presented to them by Portfolio to "confirm" their entry, and Equifax said they didn't have to tell me because it's an internal investigation. I don't buy that, so now I have to go to PPA over that!
CPA did agree with what you had said, that Portfolio is entirely responsible to come up with documentation - I can hardly prove the non-existence of documents.
I'll update all of you. Supposed to go for that meeting at small claims this month to see if we can resolve it without court. I won,t agree to pay even a nickel to get them off my back, because that's giving into black mail, and makes it harder for the next person.
I agree with another poster who says we should push for changes in legislation surrounding these agencies. What I'm seeing from comments is they use an approach similar to fishing - the by-catch method: cast your net (make it bigger than necessary, with a finer mesh than needed so you catch more fish including ones that aren't legal) then cash in on the legal ones, and try to cash in on the illegal by-catch as well.
thanks again! This is very reassuring for me, at least!
thank you so much for your advice and info! I did file my defense - on time - and noticed something odd about the trans Union statement they provided as "proof."
Their reort date at the top was an earlier date than the actual report! How can they print a report before the date of the report? Doctored, I figured. Then I noticed on my own TU report that no query had been made by PM Inc. since Oct. 2006. In fact, no querry had been made since then by anyone, except an unrelated agency I was aware of.
I called TU, they confirmed that Portfolio had not made a query, and suggested I contact the Consumer Protection Agency - even gave me the contact info to do so.
I called CPA and the guy was stunned at what I related - and I told the complete truth - no point lying - and wants to see all the documentation.
So it seems they got a CR from somewhere, without authorization, not authorized by TU, and it appears doctored.
Also, I called equifax to ask what exactly was presented to them by Portfolio to "confirm" their entry, and Equifax said they didn't have to tell me because it's an internal investigation. I don't buy that, so now I have to go to PPA over that!
CPA did agree with what you had said, that Portfolio is entirely responsible to come up with documentation - I can hardly prove the non-existence of documents.
I'll update all of you. Supposed to go for that meeting at small claims this month to see if we can resolve it without court. I won,t agree to pay even a nickel to get them off my back, because that's giving into black mail, and makes it harder for the next person.
I agree with another poster who says we should push for changes in legislation surrounding these agencies. What I'm seeing from comments is they use an approach similar to fishing - the by-catch method: cast your net (make it bigger than necessary, with a finer mesh than needed so you catch more fish including ones that aren't legal) then cash in on the legal ones, and try to cash in on the illegal by-catch as well.
thanks again! This is very reassuring for me, at least!
Sorry if I'm coming into this one unarmed as I haven't made it off page 1 of the postings and only
made it as far as the posting I'm quoting. MrBeefy, if this debt is from 1995, and you hadn't paid
a penny on it for six years, the debt is dead (stat-bar) and it's illegal for this third party agency to
even try to collect on it. If you pay even a dime on the debt, it's a valid debt for six years from that
payment.
Let me try to clarify this.
If the debt is more than six years old (to the date of your last payment on it), DON'T make a payment.
If you incur a debt, and don't make a payment on it for five years and 364 days, and some Agent
convinces you to make a token payment on it, the debt would be valid to collect on for the next
six years from the date of that payment, and not dead like it would have been if you'd have waited it
out through the weekend.
I spent the better part of two decades in both second and third party collections. From my personal
experience, third party pay better (if you're good via a % collected) but they're boring as Hell to work.
Second party is a hoot when you're young and mentally quick on your feet (and still immortal), but
once you stop having the fear rush, it's time to change occupations before someone kills you, and
thus the reason I'm now in the Trucking Industry. Going back now....
If someone identified themselves as being in bankruptcy (or debt management through a third party),
when I was doing third party collections....I couldn't wait to get off the phone 'cuz I would have just
learned that I was wasting my time. Quickly (politely so I wouldn't have to argue and waste any more
time) I'd get a name and ph# of the Trustee and done deal. Time to make money on the next call.
Anyone who (as a third party collector) freaks out on you on the phone is an idiot (especially on a
small debt as their cut of your money would be about 15% of whatever you pay) and hasn't learned
how to do their job effectively and will weed themselves out quickly. Screamers make no money and
just give themselves ulcers. Debt Collection isn't worth getting upset over. It's just a job like any other
and if you're upset in one call, it carries over to the next call and you make less money.
Anyway....if someone has already pointed this out, I apologize for repeating this as I haven't made it
off the first page of postings yet.