http://www.canadian-money-advisor.ca/threadview/1283.html
http://www.canadian-money-advisor.ca/threadview/1292.html

Above are 2 of the recent threads, #1283, 1292, (among others) that discuss PMS/Aktiv Kapital.

I assume that you are referring to the "collections and public records" section of your credit report. If the item is less than 6 years old it might also be under the "trade" sedtion. PMS, acquired by Aktiv Kapital in 2005, reports to both bureaus, and so the item may be on both of your credit reports.

Unsurprisingly, a lot of people are troubled by the same issue because they're doing this to thousands after buying up portfololios of stats barred debt. Obviously, it's too onerous to enter the same info with each case. If you would, see the recent discussion on "hard" and "trade" line inquiries with respect to Aktiv Kapital in the above threads and others last month.

Ray

Regarding my prevous post -- my question is: Can Portfolio Management just keep reporting this forever, thus making my life more difficult?
What is the best approach for this issue?
Has anyone else had this problem with Portfolio Management or any other collection agency?

Portfolio Management seems to have a old account of mine from Home Depot. I'm sure I settled this account with Home Depot right after separation from my ex in April, 2003. It was only for $300. Now I'm looking at my credit report and it is sitting under "Collection Accounts" (the only one) and was REPORTED IN FEB./08 with a balance owing of $431. This "derogatory" entry is holding back my credit score.

I did a little googling and found this link:

http://www.lendingtree.com/stmrc/credarticle3.asp?bp=

I can say without a doubt that it was unsecured. I did not put any money down as a security, in an account or otherwise. As I say, I filled out a form, received a free gift and BINGO! A few weeks later I had "free money" in the form of a plastic card - nuts for a university student with no job.

Many thanks for your information and help.

Hey aliceinlondonland,
Ultimately there should be an original contract somewhere for this agreeement. That should give you the full details.

If you don't have your company, request it from the original creditor. If they don't have a copy, then request it from the collection agency. If nobody has it, then you're in luck.

I'm sure that the collection agency doesn't have it. The creditor would probably have it archived somewhere.

Hi Monty. How do I go about finding out if it was an unsecured VISA this far after the fact?

All I can remember now is them handing them out like candy in the bottom of our residence. "Sign here and we'll give you this free gift!" It's criminal that they do that, IMO. Lesson learned.

Thanks for your replies thus far. :)

Hey aliceinlondonland,

If it was an unsecured visa, then I'm sure it's past the statutes of limitations. They won't be able to sue you in court.

It wasn't a loan, but rather a TD Visa.

Hey aliceinlondonland,

Was this a student loan? Or just a regular loan.
If it was a regular loan, it's probably past the statutes of limitations. If it's a student loan you'll have to see what you agreed to in the contract.

From my limited experience, student loans are treated differently.

I could use some advice, if anyone out there has some to give!

I have been contacted recently by Portfolio Management Canada Inc. They have called my home several times a day for the past few months (but never a response on the end of the line when I answer), and today I received a letter (the first, however they say it is the 3rd) dated December 19th. The date today is January 2nd, and they advise in the letter that I had 15 days from the 19th of December to contact them or further action may be taken against me.

Here's the deal though.... They are contacting me under my maiden name. I have not used that name in the 10+ years I have been married! This is screaming "statute of limitations" to me, but I want to be sure before I throw that at them the next time they call (should there be a response on the other end of the line that is!).

The debt is one I incurred in University with TD Canada Trust. The last contact I had with anyone with respect to this debt was in 1997, at which time I had the most horrendous collection agent harrassing me, calling me everything but a white woman and threatening me. I was making payments at the time, and I told them on the advice of a lawyer that I would no longer accept phone calls from them, and to please only ever contact me by mail in the future.

I heard nothing from them after that, sent them a forwarding address when I moved even, and have heard nothing regarding this debt until this recent contact from PMC.

Advice please? Am I within my rights to tell them to "get lost" and stop harrassing me? As I say, they are contacting me under my maiden name, a name I haven't held in 10+ years.

How do I deal with this?

Thanks in advance for suggestions and replies.