The debt will NOT come off your TransUnion and Equifax credit reports until April 1, 2015 since credit files are updated monthly. The only effect settling the debt for ANY amount will be to have it marked as either "paid" or "settled" on your credit files depending on whether it's a partial or full payment.

Because the debt is stats barred, you may still wish to settle (because you morally still owe the money and always will) if and when you are in a position to. If you are, I would start by offering them 25% to 30% of the original amount ($4207.03, not $6107.98)

Settlement amounts on defaulted retail accounts are a lot more flexible than those from banks. And so I would consider 50% as an absolute dead last upper bound. But given the age of the account and the fact it's stats barred, I'd stick with a 25% offer for quite some time despite the hysterical protests from CBV which will surely follow that nothing under 80% is possible. But do NOT settle for any amount until they send you a signed settlement agreement that the proposed amount will be in full or final payment of the account.

Say, they offer to settle for $2000 over the phone and you send it in. All you'll get back the following month will be a bill for the balance of $4107.98 plus more interest unless you have a signed agreement IN YOUR HANDS first.

The September 26 date was merely a date CBV pulled out of the hat. They don't want a fish to get away once hooked. It's been 4 & 1/2 years already; another month isn't going to make any difference.

I must say your initial explanation on how the account went into default makes about as much sense as that of another member who defaulted on a car loan from the TD Bank through Barrie Ford.

My recent dealing with these fools:

I have a few questions/concerns regarding a bad debt that I am working towards settling. The issue came about 4 years when Futrure Shop made an error in my credit payments due to being overcharged for a product. They admitted to their error, when they attempted to correct it, the correction was done properly, therefore on a monthly basis I was paying more than what I was supposed to. Payments ceased, they never corrected the error and they quickly turned the debt over to collections. Fast forward to the present, my debt owed without interest is $4207.03 (is the original debt quoted by my financial planner and TransUnion) and with interest is $6107.98.

I was told on September 19th, 2013, that I had three options of payment: partial payment; pay $4207.03, with a letter drafted stating that I will not be legally responsible for the remaining $1900.95, debt is listed as closed (as it relates to my credit report) and I would be considered a high risk borrower if I were to apply for a mortgage. Full payment; is quite obvious and is "better" when it comes to loans, mortgages, etc. Payment instalments would mean that the longer it takes to pay off, the more interest and dollars spent.
I told the collector I would have to evaluate my options , both options have their pros and cons, but I still have other bills to pay, she too stated she totally understands "you have other bills to pay". She reminded me that the longer I wait, the offer may not stand because of interest build up. I told her I will try my best to call back that day (I did not, as I was working).

Friday September 20, 2013, she left me a voicemail at about 1pm, wanting to know when we can discuss payments as the due date for full payment is September 26, 2013. I called her back immediately asking where she came up with the date, when did I agree to a full payment and why would you leave such a message, rather than outlining the details of everything over the phone and following up with a letter. She proceeded to tell me "well, I thought that was what you were leaning towards, irregardless this account has been in arrears for 5 years."

I reminded her that I DID NOT agree to any payment option, especially without a written breakdown of everything and more importantly, why September 26?th

I would like to know, considering the statute of limitations and that it will mark 5 years in March 2014, could I qualify to have the debt removed from my credit report, does it make sense that the collector pulled September 26th out of nowhere without informing me and that I am now being pressured to pay (even though I have not agreed to any payment option) by the 26th, simply because I inquired about payment options? I called them, they have not called nor sent any letters requiring me to pay by the 26th, so, legally, am I not entitled to a letter. If payment is received, can the debt be removed from my credit report and would I still be considered hi-risk ?

I told the manager that before I agree to anything, I want my options laid out in a letter. Her threat was, I won't be given any extensions and she wants no excuses if nothing is received by the 26th. I told her, no payment option has been agreed upon, I want everything in writing. She then proceeded to tell me how she does not appreciate my aggressive demeanour and that she doesn't get paid to be spoken to this way. My reply: but you manage people who are paid to chase and demand payment for "bad debts". Now you know how we feel.

I look forward to any responses or advice.

Thank you.

DO NOT DEAL WITH THESE CRIMINALS! CBV Collections are known for purchasing old debt files from companies for pennies on the dollar and trying to collect on them. These old debt files are usually already written off by the companies the money was originally owed to. Thus any money you send them goes into their pockets, not to the companies the debts are with. If you think you owe a debt and you want to pay it off, deal directly with the company you owe the money to. Call them up and ask them if you have any outstanding balance with them. They will be able to tell you if it went to collections and what agency it is currently with. If you are unsure then get a copy of your credit report. If CBV are trying to get money from you, the debt will most likely show up on your credit report as written off by the original company.

About 8 years ago I had a Telus cell phone. It was under a contract but I had to cancel since I was moving to an area that was not serviced by Telus Mobility at that time. According to Telus, this was not a good enough reason to cancel the contract and they then proceeded to try to charge me an outrageous amount for cancelling the contract. I refused to pay on the grounds that there was no way for me to keep the contract since Telus did not provide mobile service in the area I was moving to. I know for a fact that Telus wrote off the debt because it shows up on my credit report as being written off 3 years ago - right around the time CBV started to try to collect on it. As I never answer calls from numbers I do not recognize or calls that show up as unknown or private, the only reason I found out that it was them was buy googling the numbers. 2 years ago they actually sent me a letter stating I owed the money to Telus. I have reviewed my credit report and I know that the letter CBV sent me is dated for just over a year after Telus wrote off the debt. Thus the proof that if I were to contact them and send them money it would go to them, not to Telus. Telus already has the debt written off their books! There should be laws regarding this. Companies should not be able to sell old, written off debt files to these criminals. If the debt has been written off then that should be the end of it.

Hahaha ... thanks for the giggle during a difficult time.

However, I doubt that a CBV 'associate' has half the ethics of a Somali pirate.

Awww ... did I say that out loud?

Thank you. I just found a template for that on the net, and am now filling it out. CBV called me again in the meantime, and this time I attempted to engage them in a conversation as to why they think they can harass me as I am not the debtor. I was told "Pay your f****** bills loser".

Aren't they precious?

Try starting by sending CBV a Cease and Desist letter via fax or registered mail, which includes CBV's account # for this account. FTR: Templates for letters of this nature can easily be found online.

Hi. I read every post and darn, didn't see anything that relates directly to my situation. I am frustrated to no end with CBV and their attitude.

I have a friend who is 76 years old. I love him to pieces, but honestly he's not half as sharp as he probably was 10 years ago. When I met him he informed me that he was paying this collection agency $200 - 300 per month, apparently for an old debt to BC Medical. Every month, just before his pension check, CBV would call him and pretty much convince him that if he didn't pay on time bad things would happen. So he paid ... and paid ... and paid.

Eventually I felt that, minimum $200 per month, over two years, seemed a bit much for a senior paying an outstanding BC Medical bill ... so I stepped in to help. I answered my friend's phone when CBV called and told them I was going to check the details with BC Medical to be sure my friend was aware of what he owed. Suddenly CBV informed us that it wasn't Medical he owed, but Telus. My friend did recall that over ten years ago he had incurred a huge bill for roaming charges ... so we thought, okay this is what it is. I asked CBV to give us any kind of paperwork relating to the debt. They refused. I told them that we would be happy to pay off whatever debt there is, but we would not do it without the details. We had no idea what the outstanding amount was, or how many days/months/years it would take to pay it off. They still refused.

I'm no expert, but I suggested to my friend that he just stop paying until we were able to get more information, and I made CBV aware of our decision. At that point they were calling him 3 - 5 times a day.

Shortly after, my friend left the mainland for a few months, and changed his phone number to suit the new area code. Almost immediately his brother started getting phone calls from CBV. We have no idea how they got the number. The brother also made an attempt to get the details of the debt and, upon receipt, would have settled it. Refused again. He was harassed so badly over the next two months that he finally changed his phone number.

Two or three weeks ago, out of the blue, I began getting calls from CBV. They phone me at least 2 times a day, and sometimes 3. If I forget to turn off my ringer, they are happy to wake me every morning between 8 and 9. I have asked them nicely to stop bothering me. I have yelled at them. I have told them that they have no right to bother me -- especially since I DON'T OWE THEM ANYTHING. And without some kind of paperwork, I'm not sure that my friend does either.

Oddly, as I wrote this, guess who phoned me? I am so sick and tired of them. They lie, they're evasive, and they intimidate ... all behind a fake name, because they know that if we knew who they were they'd have to stand up and admit that they're bullies who haven't the cohones to come out from behind the telephone.

My next step is to make a complaint to Consumer and Corporate Affairs. Or change my phone number, which I'd rather not have to do.

How to deal with CBV Collections re: Telus bills

Brief summary of the issue: I was called by a collections agency in Vancouver called CBV repeadidly; and I ignored them comfortable in the fact that I do not owe anything to anyone - mistake #1 as it turns out as I am a victim of identity theft. It pains me to say this part but, CBV is legit and are only doing their job (maybe a little too aggressively). Read further to avoid unnessary pain and suffering if you're a fellow victim.

8 months ago SOMEONE tried to get a Cdn Tire credit card using my name and my VISA card as reference but thankfully the folks at Cdn Tire credit department phoned me to verify. I quickly cancelled my VISA card and got a new one and happily forgot all about the issue as no charges incured - mistake #2.

8 months later I get these phone calls from CBV stating that it was a Telus bill they were after. After consulting Telus, whom I have not been a customer with for over a decade, stated that I owed $5300.00. Alarmed at this point I asked them to verify all "my" information in their file. Telus did have my correct DOB but an unknown address in the Abbotsford area as well as two phone numbers attached to my file which I did not recognize (even from when I was a customer those many years ago). Telus stated they will begin an investigation and get back to me 2-3 business days.

I called my local police detachment who gave me a couple of excellent tips; they advised me to call both Equifax AND TransUnion credit bureaus. I phoned both, gave them what I knew and they flagged me for 6 years - which means that they will phone you EVERY time someone does a credit check on you (this is a good thing). I also had to fax my REAL address to both bureaus as they had that bogus Abbotsford address on record (scary huh?).

Next I phoned the Abbotsford Police department and gave them all information, including that bogus address. I received a police file number which I in turn gave back to the Telus security department.

I advised my bank and my VISA agents that I was a victim of identity theft. As a result, they put my accounts on a higher/tighter security level which means that ANY conversation I have hence forward with my bank will require an initial verbal password in addition to the normal security questions.

Lastly, I advised CBV of my situation and the manger "Vincent (Prasad?)" put my account on hold for 7 days. Note: It takes 24hrs to be removed from the Auto-Dialer system.

At the time of writing this post, I'm still awaiting results from the internal Telus investigation. According to all I've spoken to, I've completed all the necessary steps. Wish me luck.

Ben / Vancouver BC

Update: first off apologies for not updating sooner. My issue was resolved 2 days later: an Abbotsford detective called me back stating that the bogus address I had on my fraudulent Telus account had over 120 police files on it and agreed I was a victim. I gave the Telus security security department my police file number and next day they confirmed and agreed I was a victim of fraud. I made sure to tell them that I would appreciate it if they would stand down the CBV hounds, which they did. Cheers!

I have been getting calls from cbv saying I owe over $800.00 for a virgin mobile phone that I never bought. They have a different address than my own address. They told me to phone virgin mobile about this when I informed them that it wasn't me that got the phone they tried to say it was me until they could not tell me my address. They phoned once and the girl on the phone told me that it was sent to an address on bloor. the second call they said i lived on dufferin they told me to get in touch with the police but I have nothing from them to lodge a complaint. When I called virgin mobile I was told the call was restricted. I called the police about a year ago about this and when the police trieed talking to them on the phone they would not give any information. So the police told me it sounds like fraud.

A while back I started getting calls from a guy from a collection agency for an $800 phone bill that I had no recollection of. I told them to send me the bill that was owed which they proceeded to send me a piece of paper with their company letterhead and all it basically said is that I owed then $800 with no explanation. The next time I got a call I spoke with a gentleman named Marco and i told him that I wanted to get this cleared up so please send me the bill that I owe complete with all the charges to this account. I told him that someone already forwarded me a worthless piece of paper so if you are sending me the same don't waste your time. His reply to that was that I have already been given the info and I am just choosing not to pay my bills. He got quite rude calling me a deadbeat telling me to man up and pay my bills. I told him its not right that they just call and harass random people without ever proving the charges are legit at which point he advised me that if I didn't send money that day he would make sure that my credit gets screwed and will never be able to get a loan again. At this point I pretty much had all could take so I turned it around and said Marco you now owe me $800 and I want my money. Once we clear up your debt we'll discuss mine after a few minutes of this he hung up. I proceeded to call him back and asked him again where my money was and that he needed to man up and pay his bills. He apparently didn't appreciate my call as he hung up again. This was a Saturday afternoon, it was raining out and i didn't have a lot to do so i watched movies and continued to call him back every 15-20 minutes for the next 8 hours leaving voice mail when he stopped answering (one of which i had asked him if he had kids and if he did to go home get on his knees look them in the eyes and ask them what its like to have a deadbeat dad) and continued this for the next 3 days. Funny I seemed to stop getting these calls after that until one day 2 months later my wife got a call on her cell phone from the same guy. Now I was done with this and was going to settle it once and for all. I went online and started doing research and came across a site where it must of been a disgruntled employee but he said if you call and get their VM their extension # is their password. Sure enough he was correct and this allowed me to get his full name. I knew where he was calling from so I searched his name in his area and he was the only listing. Within 15 minutes I had his full name and home address and phone # and I actually pulled up his house on google earth. So I decided to call his house and lady answered I asked for Marco, he wasn't in but she offered to take a message for me. I asked if it was Marco from AR collections which she confirmed I also asked her if this was his current address which she also confirmed so I just asked her to let him know I F**kin called. That was 3 years ago i havent heard from Marco since. I have just started getting calls from CBV and it looks like I'm gonna need to take another rainy movie day and deal with these guys the same way.