Hi, I have a debt from 2005.. It was for about 2 thousand dollars. I ha vent been able to pay it since I'm on disability.About 3 months ago a collection agent has been phoning my cell phone, everyday. Anyway, he said I could pay it off in full for 2,200. I don't have that kind of money, Ive been kind of ignoring his calls. Anyway about a month ago he left me a voicemail saying I owed him 3,000. Now today he leaves a voicemail telling me that I owe 3,800 dollars :S and that it's at 30 percent interest!!

Is 30 percent even legal? Will this just keep adding up? Soon to be 5 thousand.. even 10 thousand??

And I've checked for SOL for BC CANADA and can't seem to find anything
Any help PLEASE!

Unfortunately this is the way collection agencies operate, with scare tactics, lies and deceit. Yes, 30 per cent interest is not unusual and the longer it is left the higher the amount will go. He was actually doing you a favour by offering the pay out at 2200. If I were you I would go on ignoring his calls, call his bluff if you have to. If he gets tired of the game he will sell it to another collection agency, and on and on and on.

The SOL in BC is six years.

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Originally Posted by tickle

Unfortunately this is the way collection agencies operate, with scare tactics, lies and deceit. Yes, 30 per cent interest is not unusual and the longer it is left the higher the amount will go. He was actually doing you a favour by offering the pay out at 2200. If I were you I would go on ignoring his calls, call his bluff if you have to. If he gets tired of the game he will sell it to another collection agency, and on and on and on.

The SOL in BC is six years.

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Thank you for the answer I really appreciate it
So if I were to leave it and call his bluff, what do you think the chances are it would go to court?
I read somewhere that usually collections don't take these types of things to court unless its basically at least over 10 thousand dollars (worth it)
Do you think if this thing sits and grows interest they'll take it to court?

Collection agencies have a very low attention span :). They will cajole, and threaten for a period and then as I said, sell it to someone else, and doepelgangers will take over and do the same routine. Believe me I know this first hand after I figured them out, the way they left messages like 'govern yourself accordingly' (thats how they ended their messages), I had had enough and got just as nasty right back. Honestly. Although my situation was a bit different in that I had definite proof their claims weren't any good I got good enough at it to tell them, okay take me to court, it never happened.

It all depends on what you are comfortable doing, saying, reacting to. But I think you are still protected by the SOL, yes ? Remind them of that, I did. And yes, it does grow but you have to expect to until some other collection agency gets it.

It won't go to court.