They finally left a message after several calls with no message. The caller said that it was Global Credit asking for someone unknown to anyone in my family. Since we just got this phone number, we believe that the person they are asking for must have had this number previously.
Collection Agency: view https://youtu.be/LJl0i33OfgQ
Some tips for ya if you are one of those that have not made a payment in 12 months! That means your account is most likely written off the creditors books and they will claim this as a loss when filing taxes! So:
1. Do not put money in your bank account if the creditor is associated with the debt either their credit card, Line of Credit or loan. The bank will automatically freeze your account and any deposit you make will be seized to pay the debt. They cannot seize ODSP, Welfare, disability or CPP. If they do immediately call them and have them return the funds.
2. Since your debt is already written off- SETTLE WITH THE CREDITOR. If the debt has been sold the new creditor most likely paid .007 cents on the dollar so offer them up to 10% to settle.
3. When they say your credit will be restored if you pay the debt- SO NOT TRUE!! Once your account is written off it stays on the bureau for 7 years.
4. Legal action is usually not taken on debts less than $5K- not cost effective for them and legal action must be taken (in Ontario) within 2 years from the date of delinquency
5. If you have not paid in 12 months they have most likely contacted a collection agency- Advise the creditor in writing you do not want to be contacted by phone- they may only contact you via letter. If they do not they are in violation of government laws.
6. They cannot by law contact your employer, your friends, your neighbors- if they do they in violation of government laws and can be sued.
7. Collection agencies cannot call you on Sunday nor call you before 8am or after 9pm. Again if they do they in violation of government laws and can be sued. (more details here: http://www.ontario.ca/page/collection-agency-your-rights)
8. They cannot call you until they have notified you in writing. And cannot call more than 3 times in a seven day period.
9. Stat barred debts- In Alberta if you have not make a payment or acknowledge the debt in 2 years- the debt is considered stat barred and cannot be collected on or sold Again if they do they in violation of government laws and can be sued and loose their licence. Same goes for many other provinces.
10. In Ontario the debt is never stat barred but if you have not paid or acknowledged the debt in 7 years - this information must be removed from your credit reports
11. If a relative/parent dies- immediately remove funds from bank accounts,- then notify the creditor of death.
Children/remaining spouse/relatives (unless coowner of debt) *ARE NOT LIABLE TO PAY THE DEBT OFF Settle the estate - cashing in MFS, RRSP etc and as the executor of the estate you are entitled to be paid first (I believe it is up to 5% of the estate value) Only after you and those who were owned money in the family get paid- the creditor can be offered a settlement - which they will take!!
There are so many other restrictions for creditors and collection agencies- know your rights!
Don't let creditors take advantage of you but at the same time don't take advantage of creditors.