Collection Agencies - How Long to get 9's off credit report? - Canada

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Scavengers from Hell

Postby DanielBl » Fri Dec 17, 2010 01:22:50 AM

TCR is one of the most vicious collection agencies out there. Go back on thread 457 and see their tricks while Deanna Natale was their in-house lawyer.They specialize in accident victims, cancer patients, the destitute, the unemployed, the elderly, and basically anyone who has met up with catastrophic misfortune. If any agency ever demerited being termed hyenas and jackals, it would be them.

They use endless facades and tactics to get around the Law Society of Upper Canada, FSCO and the Collections Act. They will stonewall any attempt you make to get statements out of them so they can falsify what you owe. You need to keep your receipts; and when the debt is actually paid off to the miserable scavengers, they will likely claim some amount that's as much as when you started. They'll misuse the credit bureaus to keep it going. And why not? Consumer Protection is more interested in protecting collection agencies.
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RE: How Long to get 9's off & Tot Cred Rec?

Postby average_joe » Thu Dec 16, 2010 02:26:31 PM

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RE: How Long to get 9's off & Tot Cred Rec?

Postby footloose » Thu Dec 16, 2010 11:38:59 AM

All tradelines remain on your credit report for a period of 6 years from the date of last activity. Once a tradeline is rated as R9, it will remain as such for 6 years from the final payment date. Any account rated as an R9 is treated identically as an account included in a consumer proposal or a bankruptcy. This can have a devastating effect on your credit score. For example, Fair Isaac Corporation, creator of the FICO score, which by the way is only available in Canada from Equifax gives an example on their website. If your credit score is 720 and you have an R9 on your report, it will drop your score from 140 to 180 points. That's DEADLY. Only time will improve your score. Even if a consumer has just one 30-day late payment resulting in a tradeline to go from an R1 to an R2 and a credit score of 720, will drop a credit score 60 to 80 points. Now you can see how vitally important it is to make all your payments ON TIME EVERY TIME even if it just the minimum payment.

As long as you are still making payments to TCR, there is no incentive for them to settle with you. If you want to make a settlement with TCR, stop making any further payments for at least 6 months. Of course, you will continue to receive those harrassing phone calls, but either don't answer the phone, or if you do answer the phone, once you determine that TCR is calling, hang up the phone immediately. In time, they will send you a letter to settle or you can contact them offering a settlement.

In order for a creditor to place a lien on your house, they first have to obtain a court judgement. If interest owing is the only outstanding amount, TCR won't take you to court. They will just continue to drive you "nuts". Remember, your credit score has already gone "south". Be patient. It will take some time before your score will recover.

Good Luck and have a GREAT DAY
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RE: How Long to get 9's off & Tot Cred Rec?

Postby average_joe » Thu Dec 16, 2010 10:29:52 AM

The R9's come off six years from the date of last activity, last payment or transaction.
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RE: How Long to get 9's off & Tot Cred Rec?

Postby get_smart_now » Thu Dec 16, 2010 07:53:10 AM

Cont'd..I saved post as I thought I may be logged out soon...

So Can Tire Options MC went to Tot Crdt Rec....we made arrangements I pay 140/mnth...which I really couldn't afford as I am on a disability fixed income. I sweated for a year and half to make those payments and I acatually made a bit more to show good intent...I have now paid about 2300 off...I asked for a statement to show what I owed to have something in print. It gave the new balance of 4+K and added plus interest.

I was recently away for a month and I missed a payment. First one..Man when I got home the number of calls was unbelievable...and those automated calls saying if you don't call by 10 the next a.m. it will clearly show you have no intent of paying and it will be excalated.. I called at night and left a message that I was very upset by these messages and in fact they made me not want to pay anymore.

I just had a credit report done by Equifax...and what a surprise...had a debt showing from Bell Mobility for a phone I ret'd registerd mail "within the 30days and not used". It should not have been there...That is taken care of now...But what I saw was 2 - 9's from the ones I settled, "they didn't tell me it would ruin my credit rating by settling", but my fault for not asking.The Can Tire TCR one showed a 4, then 5 now a 9...

When I called I asked what the interest would be...eg if I eventually got the 4K paid wud I be hit with a huge interest bill. No reply to that.

How long does it take to get those 9's off? I did have lots of 1's too...but if those 9's are going to be there for years, whats the point of paying the other in full....It is a hardship to keep that payment up, especially during winter when I need the money for heat. I own my own home, and I don't have a mortgage but a secured L of C 40K which I am paying interest only and it is at prime...and this is a 1..

Total Credit Recovery has never talked settlement...Will they? If I just stop paying. I kept all my bills and I have almost paid off all of what I used for purchases, cash advances.and the balance now is interest. I just hate this experience. All my life 30yrs + I paid all my bills on time, and then in one year it all came crashing down...The CC co's don't care one bit...they push credit and ifsomething happens in your life, you become victum to harassing and intimidating calls.

So 2 questions really how long for 9's to disappear, and anyone have info on TCR and would they settle. or put a judgement on my home. I was planning on selling my house and returning to Ont but after spending a month in traffic I'm starting to think I have it pretty good here in rural NS.

thanks

Agent Smart
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How Long to get 9's off credit report?

Postby get_smart_now » Thu Dec 16, 2010 07:24:53 AM

Hi interesting and informative web site here....

My situation is: I'm in my mid 50's and had great credit all my life until 2 years ago when I had to leave NS and return to ON for a family emergency. Sear Mastercard thank goodness I had a low limit of 1200 and I settled at 900. but now I have a 9 score on my credit report.

Same with Capital One.....I owed 8K most interest that accumalted the year I was gone..200+/month. The collection agency was nasty..continuous calls, borrow from fam & friends etc..I was so stressed out by the manner in which they talked to me, the threats..saying it wouild go to court and the bill would auto go up to 12K with inhouse legal fees...they came down to 50% 4K ...and I settled..thank God a friend came through for me. I paid him back.

At the same time I also had a RBC Visa which I always managed to make the payments to keep it in good standing as I had my LofC there, and had dealt with them a long time. They are all good, but I had a Can tire card too which was up over 6K..It kills me that I originally had just a CanTire card then no choice but to go with the new Can Tire Options MC.....they kept increasing my credit limit even though I was paying min payments. Anyway it ended up at 6300 it went to Total Credit Recovery
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