[BigR]

Hey all,

I read the FYI sticky regarding old debt at the top of the forum, but noticed it was for State and not province, so please forgive me for asking.

Basically Toronto Dominion has sent a debt collection agency after me on a 9.5 year old debt from an old joint bank savings account, that my ex was supposed to pay off when we split, and closed the account($500.00 overdraft/line of credit)9.5 years ago. TD has had my same address since at least 2001 and never sent anything regarding this either.

The collection agency contacted me in February regarding this and tried to get me to settle right away for 300 dollars (on a 650 dollar debt) and I refused. I did not outright admit to owing this debt, explaining it was supposed to be paid years ago but if this wasn't an error, then it wasn't something I wanted hanging over my head (after she casually mentioned how nice my credit rating was) I asked for more information and got relevant file numbers for Toronto Dominion. I told them I'd get back to them once I figured out what was going on, but that I wasn't working and had no money and doubted I could pay it. I ended up losing the relevant numbers briefly due to cleaning and figured we should just settle and be done with it. I called them back about a week later and left a short message that I would like to talk to someone about it and maybe make some sort of "arrangement" and to call me back to discuss it but they never did. No payment arrangements were ever made, and I didn't come out and say "I'm going to pay you" in the message either.

I ended up researching the statutes and found that the limit is six years according to my provincial and federal statutes, and called the collections agency back leaving a message I would not be paying them due to the SoL, and to stop contacting me. They are still calling me with automated machines telling me to contact them immediately because it was important (their standard message)

I have since found the relevant account numbers (yay!) and called TD and spoke with a representative and told them this unsecured debt expired years ago and they claimed that the debt had "only dropped off the credit bureau for 6 years" and that there was no time limit to collect because secured and unsecured debt were the same... and I was still legally obligated to pay this.


Am I still really legally obligated to pay this, or are they trying to scam me? Is it too late to send the collection agency a registered letter telling them to bugger off?

Thanks for your time.

[tickle]

No, not too late to send these people a registered letter telling them to put it where the sun don't shine. Or, pay a nominal fee and have your lawyer do it for you.

One thing you should not have done was pursue it with the TD. They have sold the debt, already have their money, now the collection agency who bought it for so many cents on the dollar is stuck with it. They have several to work on all day. You are only one small drop in the bucket.

I have been there, done that, now my lawyer does it for me, and by the way, I live in Ontario and have dealt with the TD who really screwed up when my husband posted a Settlement to Creditors. They didn't choose to take what they could get when offered, so never got anything and went the collection route. Whenever it rears its ugly head, it goes to my lawyer. Because of TD, I dealt with some really nasty people. It became an issue with me, the TD, and basically I will be taking them to the, I can't say the grave because I am going to be cremated, the blast furnace. Am I bitter, can I fight, yes I can, BigR.

Good luck, BigR, stick to your guns.

Tick

[BigR]

No, not too late to send these people a registered letter telling them to put it where the sun dont shine. Or, pay a nominal fee and have your lawyer do it for you.

One thing you should not have done was pursue it with the TD. They have sold the debt, already have their money, now the collection agency who bought it for so many cents on the dollar is stuck with it. They have several to work on all day. You are only one small drop in the bucket.

I have been there, done that, now my lawyer does it for me, and by the way, I live in Ontario and have dealt with the TD who really screwed up when my husband posted a Settlement to Creditors. They didnt choose to take what they could get when offered, so never got anything and went the collection route. Whenever it rears its ugly head, it goes to my lawyer. Because of TD, I dealt with some really nasty people. It became an issue with me, the TD, and basically I will be taking them to the, I can't say the grave because I am going to be cremated, the blast furnace. Am I bitter, can I fight, yes I can, BigR.

Good luck, BigR, stick to your guns.

tick

Hi Tick, thank you for replying!

I am going to stick to my guns, as you've suggested. I have also spoken with a licensed credit counsellor and she basically said the same thing you did. The collection company can go pound salt! I am not even going to get started about TD, but you can count me as being a little bitter as well :)

Best regards,
R