Thanks for you help Daniel, I appreicate the response!. I know it's wrong to ignore the debt and REALLY lucky they didn't come down on me for it. It was really a choice between paying rent and stuff or keep my credit card above water so I let it go, Turns out I couldn't keep up with my apartment either, so I had to bounce from job to job and place to place til I finally landed on my feet again. Which maybe why I was fortunate they didnt come after me.

I've had this credit hanging over my head since 2004. I know it's wrong to ignore my old debt, But when They ended up getting in touch with me, they claimed that my Visa was now $7500 due to interest and were willing to settle for $2500. I don't have that type of money and continued to ignore them. Thats when I got this phone call for Peter Kent and thought " here they come to get $7500 and gonna garnish my wage". It scared the crap outta me, cause since the bad debt I've now been able to get on my feet and stable job and had two kids now aged 5 and 3, not really making big money. Just staying above water if you know what I mean, paycheque to paycheque type living.

I Do want to clean it up as I know it's wrong to keep ignoring it, But I'm affraid if I call or pick up the phone and give them an offer, it will get rejected and opened up pandora's box for this debt all over again when I don't have the money to even settle. My goal was to put an amount away and try to sort it out.

I thank you in advance for your help and expertise on this matter as I am inexperienced with this situation. You've already helped me breath a little easier.
Do you have any thoughts or knowledge towards this as I'm looking for some guidence to clean a bad mistake I made when I was younger and make this wrong right?

Oh yeah, I forgot. Keep the letter Peter Kent sent you and file a complaint with The Law Society of Upper Canada. It's against the LSUC Rules of Professional Conduct for a lawyer to make false threats about legal action that can't be launched. That caused the demise of Deanna Natale, although I suspect she might be chosen as head of Consumer Protection some time soon given her connections to the Liberal party.

Like I figured, the debt is stats barred as long as it's been 2 years since you've made a payment or provided signed written acknowledgement on it. Once a debt of this type is stats barred it can't be revived whether you ever make a subsequent payment on it. As well, the 6 year credit reporting period has expired since it's taken from the date the debt went into ORIGINAL default by both bureaus. You need to get the bureau reporting date straightened out by complaining to Consumer Protection on Yonge Street.

I guess no court action was filed for all the reasons I mentioned. But you're lucky they didn't sue you when they had a chance.

You still have a moral obligation to settle when and if you are able. When and if such comes to pass, I wouldn't offer them more than about 50% of the balance when it went into default. Maybe $1500 to $1700. If it was a debt buyer, instead of a bank, I'd offer $1000. Forget about the accumulating 20% interest. Do they think yo'ure a fool?

Before sending them a penny, make sure they FIRST send you a signed agreement saying the amount is in full and final settlement of the account, or you'll be sorry..

Sorry it's pretty late. It was through Scotia bank, I had a visa for $3500 and through troubles and to young and irresponsible own it . I let it slide into collections. I contacted them in 06 Cause i wanted to get my credit back on track and they gave me the creditor that it was sent to. I failed on my end to complete the deal and let it go again. as time passed i ignored it but answered the phone to a creditor a couple times and got 3 different amounts they said i owed ($6300 roughly) and another a month later for $7500. I got into an argument with them about how they just keep giving different dollar amounts and then got a call from another creditor couple months later that claimed they were given the account now and owed 6800.

So from that point on I just ignored the calls, amazingly i saved the last atempt to settle form by email they sent me dated July 06 2007. I backed out cause i didn't trust all the information they wanted and felt like i was being setup. That was the last contact i had with them. They've (different creditors) have been calling ever since and now this peter kent. I agree with you that it's probably a scare tactic, I just want to be free of mind that there not gonna come down on me.

Both the Visa and the Overdraft are over the 6 year reporting period for negative information by the 2 bureaus; and, of course, over the 2 year limitation period for starting action in Court. The wording you report on the letter is a bit strange. Not being psychic, I have no idea what happened with your credit reports.

Call the the TD Recovery Department in the morning @ 1-888-453-0334, and find out what's going on. Try to give them both the TD Visa and the overdraft account numbers, if possible. If you no longer have them, they still should be able to dig them up.

Unless the Visa balance was significant, they wouldn't have tried to obtain judgment on it. All the more so with the $300 overdraft. That's why I was pretty sure they're bluffing.

Any present lawsuit would involve delivering or mailing you a Small Claims Court Form 7A, with a court seal and a file number on it. If they obtained a default judgment in the past, it would have appeared in the Public Records section of your 2 bureau reports for 7 years after the judgment was obtained. Highly, highly unlikely.

Can they proceed without having contact but a voice mail? nothing in my mail unless a letter was sent to my old address, But I lived at my new place for over 6 years now. So if i recieved nothing but a voice recorded message about this, how could they go ahead without me?

A side note, If i owed this $300 over-draft back in 2004, how is it reported to equifax 05-2012? wouldn't that be stats barred as well? Seem weird that my visa wasn't reported but my over draft was? considering my visa was the higher of the two

Given the legal histrionics, he's probably just chasing down a stats barred debt. If it was authentic, he would have included specifics of the debt, or just gone ahead and sued you. Lawyers used to get $25 a pop for these boilerplate notices. I'm not sure what the going rate is now. I'm sure Mark Silverthorn does.

I see there is a post already about this guy Peter Kent from NCR Incorporated (?).

The reason for the call was to notify me of formal proceedings on behalf of there client and enforcement actions being taken against me to the fullest extent that both provincial and federal law permits to enforce my contract. If I did not return their call within 24 hours, these actions would be taken without further consultation. Then, Today they left a msg advising me of immediate legal proceedings being initiated against me this morning for continual breech of contract have been given instructions to proceed action taken and been advised to have myself or my attorny to contact him immediately. If no contact has been reached these proceeding will continue in my abcense.

So I pulled up my Credit Report with Transunion and see no reports outstanding. No inquiries and no Crediter Contacts... I own a small Capital One MC, and get a monthly credit report/alert and management with it. It states;

"Account information reports the credit history on your accounts as recorded by Equifax, a national credit reporting agency. Descriptions are followed by the actual data reported by the credit reporting agency. It is retained in our database for not more than seven years from the date of last activity. "

I Had an old debt from a bank visa 2004 and an over-draft for $300 that was put in at same time from the same bank. Equifax shows the over draft was re-reported 05-2012 but nothing else outstanding?

Any help or knowledge on this would be apperciated. thanks