I had a sears debt with cbv collections. The collector I spoke to was very polite and professional with me, but he stated their guidelines would not allow a 10% settlement. I made some calls to sears and faxed all my information to them. I followed up a few days later and spoke to this lady and she told me I was denied. I called sears back and asked who is the senior manager in their recovery dept. I faxed everything to her and a few days later I get a call from her telling me my 10%settlement was accepted.

If you’re not happy with the result from the collection agency, call the creditor. I would make calls to find out who is the manager in the recovery dept.If the manager wasn’t helpful, I would call back and find out who is the senior manager. The key is don’t accept their terms, unless you’re happy with the result. It also helps if you don’t come across that you need to settle your debt, if they think you do then you won’t get the settlement offer that you want.

http://www.carrlaw.com/limitations-act.asp

Well, unlike some provinces, the Limitations Act of Alberta did allow a limitation period to be extended beyond 2 years in certain types of agreements IF it was preagreed to in the original contract - but that's unlikely here. You probably don't have a copy of the invoice you signed anymore, but if you do, check it just to be safe. Asking CBV for a copy would be pointless even though they have to show you a copy as per the Fair Credit Trading Act in Alberta.

Collector deadlines are absolutely meaningless. It's all part of their rehearsed schtick. Settle it whenever you want. They're working the phones in a frenzy this time of year to get their holiday bouses. What to do?

For such a small amount, tell them to take you to court. They'd have to show the judge a copy of the original agreement which extended the limitation period anyway. However, practically speaking, if anyone was going to sue you, they wouldn't wait 5 years. The CBV calls are typically last gasp attempts at collection on a dead debt. collection agencys love digging up corpses to see if there's any meat left on the bones. Watch the Discovery channel if you don't believe me.

I'm betting a 1000:1 they're bluffing, given the circumstances you describe. Nevertheless, if you want to settle for moral reasons, you could offer them 10% to 15%. Forget the 28% interest. If you offer them, say 50 bucks (over the phone), tell them to take it or leave it. They will scream at you that they'll have your ass in court before hanging up (and calling you right back) but no one is likely to sue over 500 bucks!

If you decide to settle, make sure you get a SIGNED written settlement in your hands BEFORE you give them a penny or they'll be bugging you down the road for more. You can renew an unexpired limitation period BUT you CANNOT the limitation period on this type of stats barred debt once it's expired.

Alternatively, give them nothing and tell them to see you in court if you choose. It's a small debt and no one is likely to do anything more about it than make empty threats. Anything offered should more for moral reasons than legal fears at this point.

Garnishing wages only occurs after a Small Claims Court judgment is obtained and a payment order directed at the debtor is defaulted on. It would take a year or so as they have to go through a mandatory pretrial mediation first. But I wouldn't worry about all this rubbish for a small bill like yours.

Ray

Thank you for your kind words Ray ~ however, I am questioning what you mean by SOL in Alberta. It is not a student loan, lord forbid that would make it a 20 yr debt.. lol
It is with a fertility clinic in Calgary, whom I might add can't keep track of their records if they are asking or demanding a $500 bill which actually is mostly interest fee's. The original bill was $150 they said but due to 5yrs interest.... well it's a bit over the $500 mark now.
Is there something I should be aware of or educate myself on? Any advice would be greatly appreciated.
CBV has given me until 4pm Wed. Dec. 10th to pay the bill or else they are going to proceed and garnashee my cheques. Can they do that?

Well, serves you right; you never talk with a collector, only at them.

When communicating with the collection agencies, one should confine oneself to phrases such as:

Shut up!
Put a cork in it!
There's a train leaving town at 6:00 PM; do yourself a favour - be under it!
Come to Papa!" etc.

Saying anything more to the mindless mental midgets is counterproductive.

Anyhow, the SOL in Alberta has been 2 years since March 1, 1999 unless it's a student loan and so I don't know why you allowed the call to go on if you didn't want settle the bill. This is actually one of the cases where you likely could settle the bill for averagejoe's/jeromeb's proverbial 10%.

I'm glad you're happy to be 40. The median age in Canada in 2008 is estimated to be 39.0 years for guys and 41.2 years for women which gives a combined median age of 40.1 years. And so, I guess at least half the country would also be happy to be 40.

Ray

I have to say that "Jerks" is a very mild word ~ I can think of better words. I had the pleasure of receiving a phone call from a girl at CBV on Rememberance Day. I was so shocked that she had no respect for our fellow country men and she yelled at me to just deal with it. Needless to say I hung up.

Now tonight I had another call from a young man claiming he knows my type and with every comment I went to say he over talked me and then laughed. I was taken back and was so angry. This is over a bill that they claim has not been paid from 5 yrs ago. Can you believe it??? 5 yrs ago. I don't have any bank records that go back that far and yet he told me to contact my bank and prove it. Well, the bank charges you a nice fee for finding old archived records. He laughed and said it would be cheaper than the bill. These people who work for CBV are cold hearted and don't allow the people they are calling a chance to defend themselves. We are automatically labeled and looked upon as snakes. It really annoys me and then for people like Joan ( as I read some threads ) ~ yes she should get a live and find someother way to make peoples lives bitter.
I am disgusted with CBV and they claim they have 7 managers and that not one is higher than the other. There is always someone at the top!
This is my rant !!

Joan is a collector. I had two debts from the 99 when I lost my job. One for Bell Satellite and the other a gas bill. In 2001 I paid the bell bill and it was updated as paid on my file and there it sat till 2006. The one I did'nt pay to the collection agency dropped off 1 year after it went collection. I sent a cheque to Atco Gas in 2002 and never heard anything again.

Advice here is not to skip out on your debt, but how to deal with it to get the consumer back on the right track.

Joan, I recognize your name from last year when Monty has the old site. You know what, you do need to go away because any advise you have ever given is to to deal with the agencies.

NO ONE should deal with a credit agency, let alone pay them until THEY start abiding by the laws

Two wrongs don't make a right, and I am tried of collectors on websites like this that try to convince people that dealing with a collection agency is the right things to do because it's not.

People need to listen to what Monty has to say and what REAL consumers need to say, no wolves hiding as sheep.

Monty, I love your site and it's to people like you that I have been able to get out under bad choices I made in the past. If it was't for the real advice I got here, I would have 20 paid collections on my my credit file, instead of 20 paid debts and a clean report with good payments replacing the bad, and that it's what it all boild down to. Paying your debts and saving your credit, not paying some collection agency who leaves you high and dry when they get the cheque.

go away Joan.I'd rather deal with a 2 year old than some know it all like you!!.Must be nice being able to go through life being so perfect.Your posts get really old after awhile.Every dog has his day and you will also.Wish there was an ignore feature on the site so I could put you on it.Features like that were made for people like you.

keep in touch with your creditors and it most likely wouldnt go to collections..ignore it like a 2 year old and you will be treated like a 2 year old.

I have nothing nice to say about CBV collections. They treated me like crap. I am going to complain about them. to consumer protection.

If anybody gets a call from them, make sure you do your homework before dealing with them. Don't let them treat you like you're a two year old!!