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Debt Collection & Repayment (23)

Debt Collection & Repayment

Posted on:
07 November 2016
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November is Financial Literacy Month, a national initiative spearheaded by the Financial Consumer Agency of Canada. To mark this event, we’re sharing some interesting money-related questions (and answers) as asked by you, our blog readers.

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Debt Collection & Repayment

Posted on:
06 September 2016
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We often get calls from consumers who are receiving calls from a debt collector. If you are getting calls, remember you are not alone -- debt is an issue for many British Columbians. As the regulator of the debt collection and debt repayment sectors in BC, Consumer Protection BC provides self-help tools to consumers. If you are getting calls, did you know that you have the right to request to be contacted in writing only by the debt collector? In this blog, we would like to share a few things on this topic.

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Debt Collection & Repayment

Posted on:
09 May 2016
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On April 1, 2016, changes to the Business Practices and Consumer Protection Act (BPCPA) and the Debt Collection and Repayment Regulation were made. While new rules and consumer tips about BC’s new debt collection laws can be found in this blog post, we would like to share further information regarding debt repayment agents in this post.

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Debt Collection & Repayment

Posted on:
19 April 2016
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On April 1, 2016, changes to the Business Practices and Consumer Protection Act (BPCPA) and the Debt Collection and Repayment Regulation came into force. So what does this mean for you, as a consumer? In this blog, we will share the changes that were made to the law, specifically when it come to the business practices of debt collectors.  

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Debt Collection & Repayment

Posted on:
15 February 2016
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Written by Consumer Protection BC’s enforcement department

Scenario:
Recently it’s been tough for you and your family. You had some major car and house repairs, and you owe money on all your credit cards. It’s been almost a year and the bills are adding up. You’ve tried to stay on top of the payments but the debt is piling up. Before long, a collection agency is calling you almost every day. The collector tells you that they are going to take legal action, and worse; they will garnish your wages! You really do want to pay your bills but you don’t have enough money. The calls are becoming very stressful.

What would you do?
(a) Never answer your phone again and hope they will give up calling.
(b) Tell the collector that you don’t want them to call you anymore, and give them notice that you wish for them to communicate with you in writing only.
(c) Find out your rights and responsibilities when it comes to debt collection in BC.

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We understand not everyone feels comfortable resolving issues or talking with a debt collector over the phone. If you feel this way, we’re piloting a new program that allows consumers to communicate with certain BC-licensed collection agencies through an online platform. 

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Debt Collection & Repayment

Posted on:
23 February 2015
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So the big day has arrived and you have finally paid off your mortgage. Good for you! But there is one more thing you should do to be completely free of your mortgage. You need to clear the title of your house.

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Debt Collection & Repayment

Posted on:
25 January 2015
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Imagine this: you have a balance on your credit card that you haven’t paid for many months and you’ve noticed that the credit card company has stopped sending you statements. Hmmm… Does this mean your debt has been forgotten or forgiven by your credit card company? The answer is mostly likely “no” – keep reading to find out why!

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Debt Collection & Repayment

Posted on:
05 January 2015
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Good news for Canadians – the Financial Consumer Agency of Canada has introduced a new financial literacy database packed with resources, events, tools and information from various Canadian organizations.

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Debt Collection & Repayment

Posted on:
17 November 2014
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About a month ago I decided to apply for a new credit card. Now being the savvy consumer I am (!), I cruised over to my computer to do a little research and entered “how to pick a credit card” in the search bar. The bad news? I got 180,000,000 results… The good news? I found a great credit card selector tool that I wanted to share with you today.

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