What is the Canada collections bureau

The Canada Collection Bureau is another name for the Credit Bureau of Canada Collections – a national debt collection agency. If you are getting calls from this company, it’s likely that they want to speak to you about money you owe – especially if you have fallen behind on payments.

In this quick guide, we’ll explain everything you need to know if you’ve been contacted by the Credit Bureau of Canada Collections, including what they do, what can happen if you ignore their calls, and what your next steps should be.

What is the Credit Bureau of Canada Collections?

The Credit Bureau of Canada Collections is a debt collection agency – a company hired by creditors to recover outstanding debts from individuals or businesses that have failed to pay their bills on time.

This kind of company will be instructed to try to collect a debt if efforts by the creditor (the company you have the credit agreement with) have failed. As such, it’s likely that you’ll have had letters, emails, messages, or calls from the company you have the account with before the Credit Bureau of Canada Collections becomes involved.

Is the Credit Bureau of Canada Collections Legitimate?

When companies call you and want to talk about your finances, it’s perfectly reasonable to wonder if they’re legitimate. While the Credit Bureau of Canada Collections is a legitimate company that many creditors instruct to help them recover debts, you should always act in a way that protects against possible scams.

The following steps will help you make sure you’re dealing with legitimate accounts collection services:

1. Ask for identification

Request the caller’s full name, company name, and a callback number. Be sure to note down any reference number or account details they provide.

2. Verify the caller’s information

Visit the official website of the Credit Bureau of Canada Collections (https://collectcents.com) to find their contact details. Then, call the official number listed on their website to verify that the call you received is legitimate.

3. Do not share sensitive information immediately

Avoid providing sensitive information such as your Social Insurance Number (SIN), bank details, or credit card numbers over the phone unless you are certain of the caller’s identity.

4. Be aware of red flags

Be cautious if the caller uses high-pressure tactics, threats, or demands immediate payment. Legitimate debt collectors must follow strict regulations and should not engage in harassment or threats.

5. Ask for written validation

Ask the caller to send a written validation notice by mail. This notice should include details of the debt, the original creditor, and your rights regarding the debt. A legitimate collection agency will comply with this request as it is a standard procedure.

6. Check your credit report

Check your credit report for any outstanding debts that might match the details provided by the caller. You can get a free copy of your credit report from the two main bureaus – Equifax and TransUnion.

What happens if you ignore calls or communications from the Credit Bureau of Canada Collections?

If you’ve ignored calls or letters after falling behind on repayments with any creditor, it can be tempting to continue ignoring calls when you’re dealing with a debt collection business. However tempting it might feel, if your debt has been passed to a collection agency like the Credit Bureau of Canada Collections, it’s important to deal with the company to avoid possible legal action.

When you have confirmed that you’re dealing with the Credit Bureau of Canada Collections, it’s a good idea to communicate with them about why they are calling and the steps you can take to settle the debt.

Although it can feel intimidating being contacted by a debt collection company, their business is to collect what you owe – not to scare you. They will probably begin by explaining that the debt needs to be paid immediately, but if this is not possible or practical, they will usually be open to the idea of setting up a payment plan on behalf of their client.

If you do ignore calls from the Credit Bureau of Canada Collections or other debt collection services, they, or the original creditor, could take court action against you. If they obtain a court judgment, they can pursue further actions such as wage garnishment or bank account seizure.

How can you stop calls from the Canada Collections Bureau?

The quickest way to stop calls and other communications from the Credit Bureau of Canada Collections is to settle your debt with them or set up a payment plan to settle the debt over time.

However, this isn’t always possible – especially if you simply don’t have the amount needed each month to make repayments.

If your debt has become impossible to handle, you may decide to explore debt solutions – for example, a consumer proposal or a debt management plan. With debt solutions like these, your creditors agree to stop calling or communicating about your debt as long as you keep making your repayments.

Summary: What is the Canada Collections Bureau?

The Canada Collections Bureau is a debt collection agency, officially known as the Credit Bureau of Canada Collections. If you receive calls or letters from them, it’s likely because you have fallen behind on repayments with a creditor, and they have passed the debt over to be pursued on their behalf.

If you’ve been contacted by the Credit Bureau of Canada Collections or similar debt collection services, you should first check that the communication is legitimate. Assuming it is, the next steps should be either agreeing to a repayment plan or looking into debt solutions that suit your circumstances.

Key Takeaways

• Legitimate Debt Collection Agency: The Canada Collections Bureau, also known as the Credit Bureau of Canada Collections, is a legitimate national debt collection agency hired by creditors to recover outstanding debts.
• Stay Safe: To ensure legitimacy, always verify the identity of any caller who says they’re from the Credit Bureau of Canada Collections by asking for identification, checking their information on the official website, and avoiding sharing sensitive information until verification.
• Consequences of Ignoring Communications: Ignoring calls or letters from the Credit Bureau of Canada Collections can lead to legal actions, such as court judgments, wage garnishment, or bank account seizure.
• Resolving Debt: The most effective way to stop calls and communications from the debt collection agency is to settle the debt or set up a payment plan. If this is not feasible, exploring debt solutions like a consumer proposal or a debt management plan can provide relief and halt further collection efforts.