Ask Me Help Desk - Collection Agency - Over 2 years old debt?

Hi
My parents received a call from a Collection Agency regarding ME
They took the info and I called them

Apparently over 2 years ago I had an outstanding bill with Bell Canada
I asked the Collection Agency to tell me what was on the Bill
They stated they only had a dollar amount and no details
I told them I would call Bell first
The Collection Agency then said to just pay by credit card as if I called Bell I would be on hold for a while
I told the Agency that that was a chance I would take and called Bell

After several minutes I got to the Credit Department and they found my old number
They stated that I did have a balance (probably left after a move) and they told me the REAL amount
I asked them if I could PAY them (Bell) instead
The Bell Rep. stated that it was BOUGHT by a Collection Agency and is pretty much gone from their files

So
Do I have to pay the Collection Agency?
The Agency stated the amount I owed was about $10 more than what Bell stated

Is there a statue of limitations on this?

The gentlemen from the Collection Agency was actually NICE, mind you I was also
As I wanted to get as many details as I could about this outstanding debt
BUT
He expected me to pay the full amount right away
If I am in the wrong I will pay, but payments only

I NEVER admitted to him that I had a debt, nor have I spoken to him since the initial phone call

I did ask him for a letter in writing and on company letterhead which I received today

ANY help, comments would be greatly appreciated:)

I am not sure about Canadian Debt Collection regs, but here in the states:

All extra fees and charges will be added to the original amount, and there is nothing that can be done to take them off.

Collection agencies buy out old accounts all of the time, that is how they get paid (with the extra added on fees) and stay in business.

Whatever payment you give to the collection agency has to be accepted by them, no matter what.

Here are links for your area

http://www.bankruptcycanada.com/debtcollectors.htm

http://www.equifax.com/EFX_Canada/co...re/faqs_e.html

I hope these help. And don't let them scare you. Not EVERYONE has perfect credit.

Hello agent:

Here in America, debt collection is regulated by the "Fair Debt Collection Practices Act of 1968". I'll bet Canada has a very similar law.

Quote:

Originally Posted by Sentra

All extra fees and charges will be added to the original amount, and there is nothing that can be done to take them off.

Of course there is. The law does not address this. Negotiation is the key. Nobody should just fire off a check when they hear from a collection agency.

Quote:

Originally Posted by Sentra

Collection agencies buy out old accounts all of the time, that is how they get paid (with the extra added on fees) and stay in business..

Actually, these slimy collection agencies buy the debt for pennies on the dollar. If they collect ANYTHING, they're WAY ahead.

Quote:

Originally Posted by Sentra

Whatever payment you give to the collection agency has to be accepted by them, no matter what..

That's not so, either. The law makes no reference to that requirement. Once they bought the debt, it's THEIRS. They can accept payments, they can refuse, they can sue, or they can sell the debt to even slimier collection agents, if they can't shake anything out of you.

excon

Well, I hope the OP has received a bit of help from the analyzation of my post. Thanks for setting it straight.

I have been in debt foe over 2 years. I am going threw a divorce. I am finnally going to receive money owed to me. Can they come to my back and take the money owe.I ow 40 thousand dallers I will receive 40 thousand daller do I loss all that money