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devonc

FutureShop Card debt after 14 years...

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Hey,



I had a FutureShop card in 1998, I was 18 and never ended up paying it and avoided it at all costs. I never knew or cared much about credit, I wasn't very good with money. Obviously I've grown up since then and I am now 32. in 2008 when I was 28 I cleaned up my credit and bought a house, got a line of credit with my bank and a VISA with my bank. The FutureShop debt was no longer on my report and I've did some research and found out that companies will close files and claim losses on delinquency so I thought that is what FutureShop did.



I NEVER miss a payment and I NEVER am late on paying my revolving accounts. I often purchase a credit report just to monitor my score and my accounts because I am quite proud of what I've accomplished without claiming bankruptcy and because I want to make sure my identity hasn't be compromised.



This morning I got an interesting call from an 1-800 number, it was someone from a collection agency about my FutureShop card. I don't mind paying off the debt but my question is shouldn't I have been able to see the debt on my report? Interest has been building up over the years... Could I use the "this was non-existent for years and interest has been adding and now suddenly it appears?" approach and ask for the debt lowered due to the debt never existing on my report in the past 6 years?



What do I do? Should I see this debt on my credit report?



Thanks

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14 years? Send them a FOAD letter.

 

Gladly :) However, should this still be affecting my credit? Should I see this on my report?

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I'm not sure if the CRAs use the same rules in Canada, but in the US, negatives generally drop off after 7 years. If it's a legal judgement it can stick around longer.

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I'm not sure if the CRAs use the same rules in Canada, but in the US, negatives generally drop off after 7 years. If it's a legal judgement it can stick around longer.

 

That's what I thought for Canada too but I could be mistaken. Does anyone else know if this is the case?

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What province are you in?

 

I would imagine that these acts are the same across all. ?

 

 

http://www.justice.gov.sk.ca/Credit-Reporting-Act

 

The Act also protects your privacy by placing limits on the kinds of information that a credit reporting agency can include in a credit report and by limiting who can receive and use that information. For example, a credit report cannot include the following information:

  • information about any bankruptcy if at least 6 years have passed since the date you were discharged from bankruptcy, unless you have declared bankruptcy more than once;
  • information about a court judgment against you if at least 6 years have passed since the date the judgment was given, unless the lender confirms that the debt has not been paid;
  • information about any conviction for a crime or about a summary conviction if at least 6 years have passed since the date of your conviction or, if you were imprisoned, since the date of your release or parole. If you were convicted but were granted a full pardon, no information about the conviction can be reported;
  • information about any debt if at least 6 years have passed since the date you last made a payment on that debt or, if no payment has been made on that debt, since the date the debt was incurred;
  • information about any court action or proceeding begun against you in the last year, unless the credit report includes the current status of the action or proceeding; and
  • information about a court judgment against you, unless the name of the lender and the amount of the judgment are included.

 

if it's been off your credit report,for years, they can't put it back on.

 

http://www.collectdebtincanada.com/comparison.php

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What province are you in?

 

I would imagine that these acts are the same across all. ?

 

 

http://www.justice.gov.sk.ca/Credit-Reporting-Act

 

The Act also protects your privacy by placing limits on the kinds of information that a credit reporting agency can include in a credit report and by limiting who can receive and use that information. For example, a credit report cannot include the following information:

  • information about any bankruptcy if at least 6 years have passed since the date you were discharged from bankruptcy, unless you have declared bankruptcy more than once;
  • information about a court judgment against you if at least 6 years have passed since the date the judgment was given, unless the lender confirms that the debt has not been paid;
  • information about any conviction for a crime or about a summary conviction if at least 6 years have passed since the date of your conviction or, if you were imprisoned, since the date of your release or parole. If you were convicted but were granted a full pardon, no information about the conviction can be reported;
  • information about any debt if at least 6 years have passed since the date you last made a payment on that debt or, if no payment has been made on that debt, since the date the debt was incurred;
  • information about any court action or proceeding begun against you in the last year, unless the credit report includes the current status of the action or proceeding; and
  • information about a court judgment against you, unless the name of the lender and the amount of the judgment are included.

 

if it's been off your credit report,for years, they can't put it back on.

 

http://www.collectdebtincanada.com/comparison.php

 

I am from Ontario. Thanks for this! I am going to purchase a report now and see

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I just ordered my report and score from Equifax and there are NO collection accounts on my file, just my regular revolving VISA and line of credit. The agency that called me is going to call me tomorrow, I will tell them to stop calling me. Thanks for your help guys!

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I just ordered my report and score from Equifax and there are NO collection accounts on my file, just my regular revolving VISA and line of credit. The agency that called me is going to call me tomorrow, I will tell them to stop calling me. Thanks for your help guys!

you need to send thema a FOAD letter.

 

in addition, you should check your provinces' collection laws to see if they are required to send you a letter befoer a phone call ( ontario ) and if they are required to tell you that the debt is past the SOL for legal action and reporting.

 

if it above is true, then cite that violation in your letter to them and file a complaint with the appropriate agency for your Province.

 

We are located at:

Credit Bureau Services Canada

26 Queen St, P.O. Box 186

St. Catharines, Ontario L2R 6S7

905.688.9855 - telephone

800.263.4764 - toll free

905.688.9606 - facsimile

800.313.7813 - toll free fax

 

 

here's a link I found.

 

Collection Agency Licensing Statutes by Province and Territory

 

Province or Territory
Name of Licensing Statute

Alberta Alberta Fair Trading Act

British Columbia British Columbia Business Practices and Consumer Protection Act

Manitoba Manitoba Consumer Protection Act

New Brunswick New Brunswick Collection Agencies Act

Newfoundland Newfoundland Collections Act

Northwest Territories Northwest Territories Consumer Protection Act

Nova Scotia Nova Scotia Collection Agencies Act Nunavut Nunavut Consumer Protection Act

Ontario Ontario Collection Agencies Act

Prince Edward Island Prince Edward Island Collection Agencies Act Quebec An Act respecting the Collection of Certain Debts

Saskatchewan Saskatchewan Collection Agents Act

Yukon Yukon Consumers Protection Act

 

 

In the event a collection agency has violated the licensing statute in your province you may want to make a complaint against the collection agency to the provincial licensing administrator in your province

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I just ordered my report and score from Equifax and there are NO collection accounts on my file, just my regular revolving VISA and line of credit. The agency that called me is going to call me tomorrow, I will tell them to stop calling me. Thanks for your help guys!

you need to send thema a FOAD letter.

 

in addition, you should check your provinces' collection laws to see if they are required to send you a letter befoer a phone call ( ontario ) and if they are required to tell you that the debt is past the SOL for legal action and reporting.

 

if it above is true, then cite that violation in your letter to them and file a complaint with the appropriate agency for your Province.

 

We are located at:

Credit Bureau Services Canada

26 Queen St, P.O. Box 186

St. Catharines, Ontario L2R 6S7

905.688.9855 - telephone

800.263.4764 - toll free

905.688.9606 - facsimile

800.313.7813 - toll free fax

 

 

here's a link I found.

 

Collection Agency Licensing Statutes by Province and Territory

 

Province or Territory
Name of Licensing Statute

Alberta Alberta Fair Trading Act

British Columbia British Columbia Business Practices and Consumer Protection Act

Manitoba Manitoba Consumer Protection Act

New Brunswick New Brunswick Collection Agencies Act

Newfoundland Newfoundland Collections Act

Northwest Territories Northwest Territories Consumer Protection Act

Nova Scotia Nova Scotia Collection Agencies Act Nunavut Nunavut Consumer Protection Act

Ontario Ontario Collection Agencies Act

Prince Edward Island Prince Edward Island Collection Agencies Act Quebec An Act respecting the Collection of Certain Debts

Saskatchewan Saskatchewan Collection Agents Act

Yukon Yukon Consumers Protection Act

 

 

In the event a collection agency has violated the licensing statute in your province you may want to make a complaint against the collection agency to the provincial licensing administrator in your province

 

Thanks, I will consult someone to find out about the law to be sure.

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