Keep in mind in some provinces the creditor like Capital one is considered a first party collection..and they arent as restricted on what they can do to collect their money back .

A 3rd party collection agency is usually subject to the respective collection practices acts, depending on the province and they are restricted as to time of calls and such, where capital one can call anytime and as often as necessary.

check with these folks at www.kgdebt.ca
Ensure 2 things with a settlement:
1. That you WILL actually be able to complete the terms (if your only alternative is bankruptcy, then go low [maximum of 20 %, perhaps lower] ).
2. That you receive a WRITTEN agreement that, upon completion of your settlement, your credit bureau line will be R-7 with a zero balance (it will still remain on your bureaux for the provincial limit).

Hi,

I am from Newfoundland, and I am receiving harrassing calls from Capital One Collections. They call constantly, and I speak to them and they say alot of mean things to me. They tell me to find a babysitting job, cleaning job etc to pay off this account. They ask me if I have any children so I could pay them the baby bonus check to them. They ask how much I make in unemployment, who pays my rent, where I am getting money from to pay this account. Alot of personal things. I actually blew up yesterday when talking to one of them and told them it was none of there business where I will get the money to make payment arrangements with them, the girl got all huffy then and said the conversation was over and I hung up before she did. I try and make payment arrangements with these collection agency and they want more than what I can afford. and on the day they want it. I cannot do that as I receive my checks every two weeks. Can you please give me some advice on this. I am willing to make payment arrangements but they will not accept them. I do send them something every month for the last 3 months. They threaten my by telling me their lawyers will ask for the full amount and will take me to court. Will the lawyers make arrangements with me to pay them off. Help, please as I am stressed to the max with these guys. I am always polite with them. I am worried to death and I cannot sleep or anything. I do not know all the rules and regulations with these guys. Any help would be greatly appreciated.

thanks, so much

That's great news Jim..
That's what we're all about here. We want all Canadians to be able to completely feel in control when they get a call with a collection agency. Up until there hasn't been a ton of information about how to deal with collection agencies.

One of the great benefits of the internet is that Canadians with the same interests can get together and talk about, and learn more about things. Good for our readers, bad for collection agents and agencies.

If collection agencies have been harrassing you, please take a moment to let us know about it. As a community we'll be able to learn more and get in control of this problem.