Collection Agencies - FDR took money out of father's account - Canada

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RE: The Collection Agency Advisor

Postby HonestAbe » Wed Jan 15, 2014 05:38:59 PM

True, but the traffic count could scarcely be less. Every group or organization takes its formation from the guy at the top, so most investors would be very frustrated and go somewhere they will meet kindred spirits. They can always find them over at places like the Canadian Money Forum, so why should they waste their time here with stuff like "If you want to double your money, fold it." Enough said?

We are dealing with a forum owner who puts up the software only as a platform to generate revenue from credit card spam. It'll will never be anymore than that as long as he owns it - that's why I suggested the owner recognize his limitations, then rename and dedicate the site to collection agency issues. Then get bloggers who work in the field like paralegal Nameuser from BC to contribute. And indeed he did; not sure what happened to him though.

BTW: Those who have taken and passed the Stock Brokers/Canadian Securities Course through the Investment Dealers Association are eligible to purchase an updated text anytime for a nominal price. (Well maybe not nominal, but reasonable.) It's been a good while since I took it in Toronto, so it would be a good idea for me to do that also.
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RE: The Collection Agency Advisor

Postby Ottawa_Chap » Wed Jan 15, 2014 03:01:25 PM

With respect to your comments Abe, as I believe I indicated at some stage before, I thought it'd be beneficial if the site had a section/separate forums that catered to publicly traded companies discussions - similar to Stockhouse. This way it'd attract investors in (or keen on) those companies who wish to exchange information about their investment/company. Guess the problem there is on the SH forums one has to filter through a whack of BS on any given day, and well, we know our site owner here isn't interested in investing any time into maintaining his own company, so those investment forums would probably attract the wrong group of contributors - even though the traffic count increase would benefit the owner's ad revenue intake.
Infuriating one C/A at a time..
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The Collection Agency Advisor

Postby HonestAbe » Wed Jan 15, 2014 10:42:42 PM

It's time for a new forum marketing model. This forum is close to collapsing anyway because no one is buying the existing pretentious title of the "Canadian Money Advisor". Unlike the "Canadian Money Forum", there are no financial advisers coming on this site, and any who do leave in disgust at the futility they face, so why be misleading?

The "What is ______?" articles are an embarrassment and act as a repellant to send potential serious contributors fleeing. Other pearls of wisdom such as advice on how to double your money ("Fold it.") just aren't going to cut it in today's financial environment.

Sadly, the forum has degenerated into a platform for credit card and payday loan spam to generate ad revenue - and nothing else as is reflected in its miniscule traffic count.

Therefore the title should be changed to one which accurately reflects its scope. One such name would be the "Collection Agency Advisor".

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RE: FDR took money out of father's account

Postby TJ.brooks » Wed Jan 15, 2014 05:35:08 AM

If they are so willing to offer this free information....why not just post it here or at their website.
Sounds just like a couple more guys who want to make a buck on the back of consumers already in a tight spot with their so called solutions.

As far as easy to stop because of the collections act....ya right we all know how often that goes well.

You lose a lot of credibility right from the start when you as a company direct people to a site that has nothing but a front page .

Sounds more like you are just fishing to see who will bite to phone so you can give your speeeeeel.
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RE: FDR took money out of father's account

Postby HonestAbe » Tue Jan 14, 2014 03:15:41 PM

I believe you were on this forum a number of years ago. Was it in connection with Deanna Natale, lawyer for Total Credit Recovery and its owner George Krieser? Anyhow, you had some interesting comments back then.

However, with collection agency friend/Consumer Protection Minister, Brian Pitkin, not much could be done until he quietly resigned to collect his huge pension, and collection lawyers like Mark Silverthorn became born again consumer advocates. But I'm still not sure what services you could provide, and your website consists of only a title page with a phone number. What gives?
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RE: FDR took money out of father's account

Postby XDebtcollector » Tue Jan 14, 2014 02:42:16 PM

Good afternoon,

I work for X Debtcollector Incorporated, (XDC). My partner and I had worked in the collection agency industry for a combined 15 years, and were sick and tired of the collection agency practices that often blurred the lines of legality. We felt that with the common practices of these agencies, we were unable to fully assist the public due to the conflict of interest the agencies put on us, as their policy is too make as much money as possible by keeping consumers in a collection scenario.

That's why we formed XDC. We offer insider information to consumers that allow them to not fall victim to collection agency harassment. We do not charge a fee for this information and offer solutions to different debt scenarios rather than a so called "band aid" solution.

The harassment is easy to stop, as outlined in Ontario Collection Agencies Act, however the solution to debt freedom is different from case to case and needs to make sense to you as a consumer.

Contact our office directly with any questions or concerns you may have, as we are happy to help and are here to listen.

Remember, "now we are on your side"

www.xdebtcollector.com
xdebtcollector@live.com
647-352-HELP (4357)
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RE: FDR took money out of father's account

Postby HonestAbe » Tue Nov 26, 2013 07:56:36 PM

By the same right with which any collection agency acts. They are acting as an agent for the principal who is the bank.
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RE: FDR took money out of father's account

Postby Zach1989 » Tue Nov 26, 2013 06:06:32 PM

How is FDR able to collect under the right to offset, when they are not a banking institution?
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RE: FDR took money out of father's account

Postby HonestAbe » Tue Nov 26, 2013 05:06:38 PM

Ah yes, the good ol' boys up at 40 West Wilmot Street, Unit 10, Richmond Hill. A guy I know got CIBC to forgive a loan of about $1600 that FDR was handling for them back in 2008 or 2009. The initiative came from CIBC, not FDR. They really are a brain dead collection. They sent the guy 2 pizzas from Pizza Nova. That wouldn't have been so bad except that they had anchovies on both sides, and they expected the guy to pay for them.

IBB is short for an inter-branch banking (debit memo). And no there is no limitation period on it. The right of offset lasts as long as the bank exists, even if it's acquired or merged by/with another bank.

You have no right to any course of action except to get whatever money you OR your father have in any the CIBC account of ANY branch - and keep it out forever. That is unless the debt has been discharged in bankruptcy. Not even disability pensions are exempt from the right of offset, though they are safe from court garnishments.

CIBC may forget about the whole thing in another 5 years, but you never know. Of course, it will be safe to apply for a loan or another credit card with them.
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FDR took money out of father's account

Postby Zach1989 » Tue Nov 26, 2013 04:15:03 PM

Hello,
So back in 2008 I had opened a credit card with CIBC. I believe my father may have been a co-signer on the account. About a year later, I defaulted and ended up letting it go to collections.

Fast forward to today.

FDR has been trying to contact me forever over this amount ($600).

Today, I get a call from my father saying that they withdrew 400$ out of his account under the title IBB/FDR.

From what I gather, this is under the bank's right to set off. However, is FDR entitled to use the right to set off? Also, is this debt not statue barred?

What course of action do I have, if any?

Thanks,
Zach
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