Collection Agencies - Bad Debt written off - Canada

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RE: Bad Debt written off

Postby nameuser » Tue Oct 26, 2010 07:09:16 PM

Why would you even ask if it's illegal and/or fraud?

Couldn't you just assume that since they've collected money for years on behalf of other companies that it's legal? Or am I missing something here?
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RE: Bad Debt written off

Postby average_joe » Tue Oct 26, 2010 03:16:54 PM

It's in your contract that a third party is allowed to collect. The commission percentages are between the creditor and the collection agency. I believe there are a different set of rules if the debt is sold to a debt purchasing company, but I could be wrong.
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RE: Bad Debt written off

Postby rawdebt » Tue Oct 26, 2010 02:29:30 PM

How is it legal, under what law?
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RE: Bad Debt written off

Postby average_joe » Sun Oct 24, 2010 09:20:22 PM

It's legal.
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Bad Debt written off

Postby rawdebt » Sun Oct 24, 2010 03:59:56 PM

As I understand it, when an account goes into collection. On a credit report the account notes "bad debt written off".

Now the collection agency is calling you to collect on this money. However, they get a commission of the amount they collect.
Isn't this perhaps illegal, fraud, or just blindly taking money?
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