Collection Agencies - CBV says monthly payments no longer good enough - Canada

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RE: Oh, where could they be?

Postby DanielBl » Wed Aug 17, 2011 06:55:04 PM

They use credit reports, along with real and personal property registry searches to size you up, and see what prospects you present.

Also, about half the credit bureau inquiries are hard (as opposed to soft). That way they try to leverage payment. They know they're there for all future creditors to see for at least 6 years with Transunion, and 3 with Equifax. Maybe more, because they indefinitely retain a minimum of 6 and 5 hard inquiries, respectively
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RE: Oh, where could they be?

Postby Hayden31 » Wed Aug 17, 2011 05:51:48 PM

The collection agency. They've backed down for now. I fully expect they'll try again at some point over the course of my repayment schedule. I see they're still sniffing around my credit report. I'm not sure what they're looking for, as my credit report isn't likely to produce much information for them. Or am I wrong? Why do collection agencies check your credit report every couple of months? What are they looking for or looking at? I'd love to know.
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RE: Oh, where could they be?

Postby dreemr13 » Tue Aug 02, 2011 11:45:35 AM

So are you paying CIBC directly or the Collection agency?
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Oh, where could they be?

Postby DanielBl » Tue Jul 12, 2011 11:10:30 PM

50 WAR CRIMINALS HIDING IN TORONTO. But [Canada] Border officials won't tell you who they are: Toronto Sun front page, today.

Hmmm. Might I humbly suggest they try visiting some local collection agencies.
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RE: CBV

Postby DanielBl » Thu Jun 23, 2011 10:40:21 PM

"For over 80 years, CBV Collection Services Ltd. has built an outstanding reputation as a leading provider of collection services. We believe that our success is a reflection of our people.

A career with CBV Collection Services Ltd. is one of the most rewarding opportunities in the Collection Industry. We are looking for knowledgeable and experienced professionals who possess high energy, drive, and focus; results oriented people who are committed to excellence in customer service.

If you are a team player able to build positive and productive relationships in our diverse community, we'd like to hear from you."

http://www.cbvcollections.com/employ.shtml
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CBV(Crooked Bums & Vultures)

Postby DanielBl » Thu Jun 23, 2011 01:09:40 PM

I see CBV is at it again. Just as leopards never change their spots, neither do vultures change their feathers.

http://consumerist.com/2009/05/debt-collectors-using-cute-chicks-on-facebook-as-bait.html

The latest trick in their joker's bag seems to involve the TD Bank.
They claim to have purchased the debt from the Bank but refuse to send out any assignment letter or transfer of ownership notice to the debtor as required by law 6 days before contacting them.

To circumvent legalities, they lamely claim one was sent but got lost in the mail. When confronted with this improbability, they confirm their lie and refusal to obey the law by vehemently denying needing to send one to begin with, and stubbornly decline sending a replacement.

Obviously, such notices would require them to put their claims in writing with an actual manager's signature along with a real name, phone number and extension. However, CBV prefers to use a plethora of cyber characters displaying phony digital numbers so as to not get caught.

Hopefully, Immigration Canada will show up at their offices some day soon to round up all their "undocumented employees" and send them back where they came from.

In the meanwhile, I'd avoid sending these clowns any money because you can pretty well guarantee even if you pay them, you'll get another call next week demanding still more.
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RE: CBV says monthly payments no longer good enough

Postby Hayden31 » Sat May 14, 2011 08:31:13 PM

Interesting perspectives. I thank you both for taking the time to respond.

I never considered that this business of debt collection works to meet monthly or quarterly "targets", but my jaw's not hitting the floor in surprise either.
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RE: CBV says monthly payments no longer good enough

Postby DanielBl » Fri May 13, 2011 10:03:05 PM

Those are some of the tactics CIBC's National Collections Centre and their chronies at FDR and CBV play. Standard Fare. On the contrary, you should be surprised if they did otherwise.

The cardinal rule that's been stated 40,000 times on this website is that: You never, never, never give a collection agency a penny without having a properly signed settlement agreement from them IN YOUR HANDS first. Otherwise, the chances othem pulling a stunt like this is 99.9%! Maybe 99.99%! Bwettlaufer is a collection paralegal....and he's surprised at this???? C'mon!

These tactics are done with full knowledge and encouragement from the disorganized collection herd over at CIBC's NCC. Statements from CIBC like

".... I was told by CIBC that while they couldn't give me a written agreement that this would be the repayment plan agreed upon and they were sorry that CBV refused to give me a written agreement either, that their acceptance of my payments, plus the monthly statements I received in the mail from CIBC for the payments, would constitue an agreement."

are complete rubbish. Any payments you made and receipts you have mean nothing legally. CIBC knows full well they can still sue you anytime they want for the balance. But why should they? You're probably paying them more now than you would have had to, had you not defaulted in the first place. Plus, it appears interest is still accruing, contrary to Bwettlaufer's remark. Incidentally, some of his other remarks are also pretty lame, such as

".... They will likely accept your payments -- few collection agencies are in the business of refusing payments, especially after they have accepted a PPA (partial payment arrangement). If they refuse the payments, you have a documented record of making every effort to pay the account.

I'm boggled by posts like this ... "

Yeah...... Right!

A documented record of having made every effort to pay the account has no legal value. The BC Small Claims Court limit is $25K, and as I just said, they can sue you any time they want for the balance within 6 years of your last payment. But I'd wager if they did, you'd have a good chance of getting better terms than you've had up until now. And given that they suddenly expect the whole pie, you could scarcely do worse even if it went to Court. CIBC and CBV both know that.

With that in perspective, I wouldn't give them another penny until you have a signed written settlement in hand. And given my previous remarks, I wouldn't be giving them everything they ask for either.

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RE: CBV says monthly payments no longer good enough

Postby bwettlaufer » Fri May 13, 2011 08:50:34 PM

Odds are, a collection manager has reviewed the file, and given the collector in charge heck for accepting arrangements to resolve the account over the next 83 months (at your current rate of payment).

You have a track record of paying $300 a month. If there is no interest accruing on the account, continue to send them $300 a month (via express post, signature required to keep records that you are indeed sending them payment).

They will likely accept your payments -- few collection agencies are in the business of refusing payments, especially after they have accepted a PPA (partial payment arrangement). If they refuse the payments, you have a documented record of making every effort to pay the account.

I'm boggled by posts like this ... if someone is making reasonable attempts to repay their accounts, and your credit bureau or income and expense statement doesn't show you are sitting on a big bag of excess money every month, why wouldn't they continue to accept these arrangements? Likely the collector is under heat to hit their target, the manager feels the collector is being too soft, the file has been transferred to another collector, or the agency is behind branch target, and they are looking for money to squeeze from their cooperative debtors. I wouldn't do this at my agency...
----------------------- Blair Wettlaufer Receivable/Accounts - www.receivableaccounts.blogspot.com
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CBV says monthly payments no longer good enough

Postby Hayden31 » Thu May 12, 2011 05:25:14 PM

Hi folks,

I'm hoping someone can provide a little bit of insight into a strange call I received from CBV two days ago. My file went from one agent to another within the last month or so, as the person I was dealing with apparently no longer works for the company. But at any rate...

I have been making $300/monthly payments to CBV under a verbal agreement for repayment for the past 14 months for a 25k debt. I've never missed a payment nor made a late payment. CBV is collecting for CIBC for a line of credit. I made an initial payment of $4000.00 14 months ago to get the ball rolling on my repayments, and have been following up with those monthly payments.

The agreement was that I would make these payments for 3 years and then we'd talk about making a final lump sump payment at that time for whatever was outstanding.

But I was recently told that these payments are no longer good enough and the new agent stating "I have a hard time believing we would agree to those terms because we don't finance loans". FYI -- loan has not been sold to CBV and it is still collecting monthly interest, so I'd like to know what he meant by "we don't finance loans".

I know I got screwed with a verbal agreement. But, I was told by CIBC that while they couldn't give me a written agreement that this would be the repayment plan agreed upon and they were sorry that CBV refused to give me a written agreement either, that their acceptance of my payments, plus the monthly statements I received in the mail from CIBC for the payments, would constitue an agreement.

I don't know what CBV's next move is going to be. All they said is that they "will have to check with CIBC". I sent them a letter by registered mail stating I will no longer communicate by phone but only by mail.

What are my legal rights here? I know I was screwed in being denied the repayment plan in writing from both ends, but I'm also having a hard time finding advice because most posts on the net are from persons who either haven't started paying off a debt yet, or did start but had to stop because of financial reasons. I haven't found any posts yet from people saying "I've been paying for such and such a time and now they want more..."

Anyone have any ideas as to upcoming tactics on their end that I'll likely have to now navigate? I don't mind filling out a disclosure statement because I have nothing to hide. The numbers will speak for themselves in terms of what I can/cannot pay. But I can't find much about disclosure statements either and who's interest they best serve, and under what circumstances one should agree to fill one out.

I'm pretty sure they're just out to push my buttons because this is what they do. But I'd like to be a little more confident in that opinion...lol.

Many thanks if you have any advice that you can pass along!

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