I assume they also believe in the easter bunny and santa too.

"We look for solutions to assist people rather than making a more difficult circumstance for them."
How could the person who wrote their website write that one with a straight face.

"While Global Credit & Collections is engaged in the collection of accounts, the employees and management involved [sic.] in the community [sic.] work and are concerned with the welfare of others. Much of the company's success in its work is related to working with people. A business approach with concern for a consumer requiring assistance with its financial problems is the approach taken by the management and staff. We look for solutions to assist people rather than making a more difficult circumstance for them."

(Taken from Global Credit's website).

Before you follow the advice of a collection agent, irregardless of who owns the debt, you need to determine whether or not it's legally valid. It may well be stats barred. Much of Aktiv Kapital's (aka Kapital) is, depending on what province you're in.

Incidentally, of the 14 countries that AK operates in, Canada provides their lowest return ratio (circa 3%). Darn!

Ray

PS: Draft statements threatening legal action like the ones contained in Ottawa Chap's post on Natale are illegal if she knows the debt is stats barred. If so, why people are not making complaints about her to the Law Society is beyond me.

No, Natale Law Office technically doesn't hold the accound. However, they are working with at least Global Credit, and possibly a couple of other agencies, who will either own the account or have the file passed along to them (depending on the process the original creditor uses).

So Natale would be working on the behalf of Global, who would be collecting for CIBC. And from my experience, Global doesn't even get up off their arses to call you or send you anything before they sic Natale on you. (Although my issue was a Bell account and not anything CIBC).

So in short, Global holds said account and Natale is unleashed upon thee.

The Natalie Law office doesn't deal with CIBC accounts. CIBC is Global Credit's largest client, so that is whom they have a trust account set up with to accept payments from debtors.

Same with MJR having their trust account set up with TD Canada Trust.

Just an FYI, if the Law Office has the account now, there is a high chance a debt purchasing company (like AKTIV) owns it now.

Sending any money to the originally creditor will only cause more headaches. The account is "closed" in their eyes, as they have already been paid for it -- so they may just keep the money and not credit it to an account, or send it back to you.

If making a payment to a collection, using a Trust account is probably your safest route -- you get a receipt right away and proof of payment.

If might be wise to contact CIBC and find out if the debt was sold to Deanna Natale's firm, or assigned to them.. If assigned, then you can probably still deal with CIBC, and possibly settle the debt for much less - depending on the age, anywhere from 10% to 80%..

If it's been sold to Deanna.. Then you're probably stuck dealing with her "firm", I believe, as CIBC would have relinquished all claims to it. If suck in that case, don't offer her very much as a settlement; and insist on receiving a settlement contract before handing over any funds.

The contract issued should indicate that the debt is being settled in full, and, that your credit reports will be updated to reflect this (in a timely fashion, of course).

O.C.

So should I just make the payment directly to the original CC Company....or pay them???...I know that some people have lost their money...so I just dont want that to happen to me ya know?

Any advice?

In a similar boat as you.. In my case it's not CIBC that's after me, but one of their affiliates. So I guess we know who CIBC's choice is for collection rep's..

Anyway, I'm looking at Nat's draft Superior court of Justice document right now and under reasons for claim see..:

1) A full explination of the Plaintiff's Claim will be provided to the court pursuant to the Rules of the Ontario Small Claims Court

2) The Plaintiff seeks the following relief from the Court: court costs, counsel fees, pre-judgement interest and post-judgment interest in addition to the amount owing.

3) The Plaintiff will provide the Court with relvant documents, if any are required, pursuant to the rules of the Ontario small claims court.

Nothing listed under prepared on, or issued on... Also, no signatures..

That said.. This document is toilet paper in my mind..

O.C.

Hey,

Im also in the same boat. I am really confused about the letter that I received from them, and I feel that SOMEONE might be able to shed some light onto the situation. I have been reading all the lit about the situation, and not once does anyone mention a legitimate debt issue. I DO owe money to the institution that the Natale Law Offices states, however I am extremely reluctant to pay them after reading all of the horror stories. I wrote them an email, as there was no phone number on the letter, and received an email back with all the "CIBC Trust Account" Information for the payment. Im extremely confused and don't really know what to do.

Bell has farmed out a lot of their written off accounts that were a few years old lately. I didn't know they were selling them.

If it's not for too much, I suggest