Collection Agencies - HELP - Canada

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RE: HELP

Postby axhammer » Wed Aug 25, 2010 06:05:13 PM

I don't understand why people avoid something that they racked up? Some people are down on their luck but if in 7 years you can't pay off your debt, something is seriously wrong with your lifestyle. But anyhow Stat Bar won't stop collection actions. You need to send a letter saying to be only contacted by mail.
Collection Actions
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RE: HELP

Postby footloose » Tue Aug 24, 2010 05:48:18 PM

Fran and Jean

You are very misinformed as to how the Ontario Limitations Act, 2002 works. You are correct when you say that the limitation period in Ontario is two years. However, you are incorrect in your understanding of how the limitation period operates and what will extend it. A simple example should suffice.

Let's say that Charlie owes Acme MasterCard $3,000 and made his last payment on June 30, 2009. His next payment is due on July 30, 2009 but no payment is made. His limitation period starts on July 30, 2009 and ends on July 30, 2011. If any payment on this debt is made WITHIN this period or any written acknowledgement of the debt is made WITHIN this period, this will restart the date of the limitation period. However, if any payment is made on this debt OUTSIDE this period or any written acknowledgement of this debt is made OUTSIDE this period does NOT restart the limitation period. Once a limitation period has expired, generally it can not be restarted again.

Good Luck and have a GREAT DAY
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RE: HELP

Postby Fran & Jean » Tue Aug 24, 2010 12:19:51 PM

First, DO NOT UNDER ANY CIRCUMSTANCES PAY THESE PEOPLE ANY MONEY. The Statute of Limitations is up, but if you pay anything on the debt, the clock starts over again.
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RE: HELP

Postby Fran & Jean » Tue Aug 24, 2010 12:17:19 PM

First of all DO NOT MAKE ANY PAYMENT, not one penny. If the account is 5 years old, they can't sue you, because the Statute of Limitations is two years. But if you pay on it now, you have acknowledged the debt, and the clock starts over.
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RE: HELP

Postby DanielBl » Thu Aug 19, 2010 12:16:07 AM

Yes, by law they have to contact you by mail 6 days before they call you, notifying you they have been assigned the debt with its particulars set out.

See Section 21(1),(2),(4) in the link below

http://www.e-laws.gov.on.ca/html/regs/english/elaws_regs_900074_e.htm

Must be stats barred by now, so they're likely just giving it a "one for the road, last gasp" try before they file it under "G".

You still morally owe it though. Try and settle it for 10 or 20% - AFTER you get a signed agreement IN YOUR HANDS that it's for payment in full.

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HELP

Postby dunny76 » Wed Aug 18, 2010 11:06:15 PM

so contact resources called me at work and stated that i owe money but they are unable to send me a statemet claiming how much i owe, and that if i dont start payments they will sure. now the debt the claim hasnt had a payment on it in 5 years and all together is 7 years old. but my question is that do they not have to send a statement for proof of how much you owe?
Mike
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