Most creditors are limited to their practices. Consumers in Vancouvar have the right to stop creditor calls, as well as limit the collectors in other ways.

Creditor complications:

1. If the creditor has not retained a copy of the original credit application or agreement, then they can lose in court or provide for a lengthy court battle since they cannot “validate” the debt.
2. The consumer can be “judgment” proof.  Meaning, even if the creditor wins in court, they may not have any means of collecting on the debt (i.e. the debtor is unemployed, does not own any assets, and has a joint account).
3. Provincial court does not often award the return of legal costs, therefore the cost of proceeding with legal action should not be more than the debt amount or they could lose even more than your debt is worth.
4. Another possibility is that a creditor could accumulate substantial legal

Read more...