Collection Agencies - CMHC and collecting agency - Canada

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RE: CMHC and collecting agency

Postby average_joe » Wed Jul 14, 2010 08:26:43 PM

It's not up to the collection agecny to renew the judgment.
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RE: CMHC and collecting agency

Postby khenrybadeaux » Wed Jul 14, 2010 06:05:02 PM

Are you saying that if CMHC doesn't renew the "debt" on the renewal date that the collection company can collect on the debt? Can the collection company renew the debt?
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RE: CMHC and collecting agency

Postby average_joe » Thu Apr 30, 2009 07:17:25 PM

It will be hard to negotiate if they know you have a home and know where your job is. I know from my experiences and I am good in settling debts they might accept 50% if your lucky. If they place the judgment against your home and start to garnish your wages you might need more then 50%.What was the shortfall back in 1991 before the interest started? If you offered them that amount, they should drop the interest. Good Luck!
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RE: CMHC and collecting agency

Postby jimmyd64 » Thu Apr 30, 2009 03:51:02 PM

I am well aware of what they do.
i am going to try to negotiate with them for lumsum payment.
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RE: CMHC and collecting agency

Postby average_joe » Thu Apr 30, 2009 02:01:09 PM

I'm surprised they usually do checks to see if people have gone bankrupt or have judgments against them, besides doing the credit check. It sounds like the only did the credit check. When is your home up for renewal? Here are some of the options they have. They can attach the judgment against your home if they find out you have one. If you come up for renewal before the judgment expires you will probably have to get enough money to pay them off in order to get the renewal. If they want they can garnish your wages and suck any money out of your account if they find out where you bank and if you have any money it. If you have a car worth over three thousand they can put the judgment against that.
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RE: CMHC and collecting agency

Postby jimmyd64 » Thu Apr 30, 2009 01:53:14 PM

well i got it in 2000
and i didn't need CHMC to insurce the mortgage.

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RE: CMHC and collecting agency

Postby average_joe » Thu Apr 30, 2009 01:48:32 PM

How did you ever get another home when you foreclosed on the first on? I'm surprised they never picked up on that.
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RE: CMHC and collecting agency

Postby jimmyd64 » Thu Apr 30, 2009 01:18:59 PM

I am just scared that they'll come after my house.
I am going to see a lawyer tommorow, will see what he say.
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RE: CMHC and collecting agency

Postby average_joe » Thu Apr 30, 2009 01:14:59 PM

It means that they have to renew it again on May 20, 2009 on or about that date. If they do, it will be for another two years and do they want to spend good money after bad after eighteen years. I think they might for the simple fact they went this far. I guess time will tell and I wouldn’t call them if I were you and if you can have your co-workers and employer tell them you no longer work there if you can.
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RE: CMHC and collecting agency

Postby jimmyd64 » Thu Apr 30, 2009 01:11:20 PM

well on the writ that i got this morning.
its stated that the judgment date May 15 1991, filed on may 21th 1991
first renewal on May 21 1997 second renewal on May 21 2003 the last one is May 20th 2009.
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