"I contacted CBV Collections Services and they said they have no record of the debt that appears on my credit report, and that it must have come from another collections company named CBV. Very bizarre. Does this CBV Factored Telco even exist? Is it a scam? I’m going to follow up on this matter and will post updates as they arise"

Hey Mike, don't even bother, just file the disputes with Transunion and Equifax and they will be dropped. Telus won't respond as the old files are no longer on their system and if CBV says there is no record then there is no proof of any debt. You can rack your brains out sometimes just trying to find out who half these debts/people are. Just continue to check your credit file a couple times a year and file disputes if anything shows up like this again. Like in my other post I had one for movie late fees from 1999 that showed up two years ago. What I do now is subscribe to TransUnions monthly services for $15, I can update my credit file whenever I want. I order my equifax once every few months.

Here are the links for you, both have ID requirements. Just write the debt is not yours. You should get a response back in about 6 weeks.

Equifax: http://www.equifax.com/EFX_Canada/consumer_information_centre/docs/update_form_e.pdf

Transunion: http://www.transunion.ca/ca/personal/creditdisputes/mail_en.page

CBV Factored Telco also popped up on my credit report and dropped by FICO to 665.

Anyway, called Telus and they have no record for my name other than a Telus Mobility account I have for personal and business. Good standing for years.

They said call CBV which I already did who confirmed a Telus phone bill. But they don't have the actual phone number for the bill. Ok, so how do you know I actually had the phone.... They then tried to negotiate a pay off. Said I would call back but debt is from 01/2003 so drops off in January 2009 anyway. Get a call every once in a while...

It's sad, but companies can sell old debts. BUT factored is a purchased debt and if you send a dispute letter stating it's not yours to TransUnion and Equifax, by law they must investigate, it will likely be purged because they are not the original creditor. Telus just started selling these debts last year. Most people though don't know any better and will just pay it. Always check with your provinces laws.

But if anything with factored ever shows up, just file the disputes right away. No sense dealing with collections for something that you are much easier dealing with on your own, after all you have better chance of dealing with dispute letters that paying it and having a paid collection on there. Dispute process usually takes 45 days after you send a dispute to get a response.

I actually had another factored account several years ago for $40. Believe it or not, is was for movie late fees.

Factored telco is old telus residential purchased by CBV Collections. You cannot pay telus directly they no longer have the files they have been sold.

The best way to deal with it is to send a dispute letter claiming it isn't your debt to Equifax. If they cannot find the original creditor nor the creditor responds within 30 days, the trade line will be dropped.

"This is creepy. My husband and I did a credit check to see where we stood to get a house loan. This Factored Telco A showed up as well..."

Hi everyone,

I just did a credit check and, like Jennie and others, it appears that I have a debt to CBV Factored Telco BC. It says that it was "assigned" in September 2007. I couldn't find anything online about this company (except for one site that my anti-virus blocked, as it deemed it to be an infected site that steals passwords or some such thing, so I never even got to see what was on there). Furthermore, my bank's online payment system doesn't recognize the name "CBV,” except in the form of CBV Collections Services Inc., a legitimate collections agency.

I contacted CBV Collections Services and they said they have no record of the debt that appears on my credit report, and that it must have come from another collections company named CBV. Very bizarre. Does this CBV Factored Telco even exist? Is it a scam? I’m going to follow up on this matter and will post updates as they arise.

Jennie, please let me know if you learn anything new about this company.

Best

Mike

There are not too many people who would start paying off a $900 loan to someone they've never heard of.

Ray

This is creepy. My husband and I did a credit check to see where we stood to get a house loan. This Factored Telco A showed up as well..in November 2007 as well! They are askin 900 dollars? We don't know who they are. We can't find a contact number. We don't know what it is for and it is preventing us from getting a loan??? I started paying them on line...but I fear we don't even owe this or it is a scam as well. Curious, as everyone's account on this discussion seems to have been opened in November 2007, as did ours??

I found this on my report too. Listed in the soft inquiries on my report in the same month was Telus Mobility. After about 7 or 8 phone calls I found that it was actually to do with a Telus home phone line that I settled the account with a totally different collection agency 5 years ago. Stupid me for not keeping my receipt for 5 years. The amount of the debt sent from Telus to this CBV Collection company was WAY off what I actually owed them, and now CBV is trying to collect a level of interest that is (I think) criminal according to section 347 of the criminal code of Canada. (More than 60% annum) They like to call it 8.something% but compounded daily.

I had almost the same thing just happen to me recently!
I checked my credit as to keep on top of things and in November 07 CBV Collections posted a collection item on my bureau from a Telco. I called and asked them about it as I had never heard of Telco. They informed me it was a Telus bill owed. I had forgotten about this bill and it was from 2005!! As I did remember I had a bill I was all prepared to take care of it until they tell me I owe over $200.00 in interest since November and that even if I paid the "bill" it would not show on my bureau as sastified unless the interest was paid as well!! I told them I would be checking out if that was legal....I have a feeling it is not!!!

I believe I have heard of this company as Telco Accounts Receivables. They are a debt purchasing company.

I don't know who they purchase debt from, but it's more than likely a stats barred account. Who knows.....