Debt Free in 30 477 – The Messy World of Debt Collection and Statute-Barred Claims
Doug Hoyes is joined by special guest, Blair Demarco-Wettlaufer, a collection agent, who serves as the Chief Operations Officer at collection agency Kingston Data & Credit. This marks Blair's seventh appearance on the show! In this episode, Doug and Blair discuss the messy world of debt collection, statute-barred claims, and credit reporting. They answer questions such as, how long does it take for a credit card company to send your debt to collections? Does a statute-barred debt affect your credit report? What happens if you don't pay it? Can you be sued and when is it time to speak to a Licensed Insolvency Trustee? Tune in for lots of great advice and tips!
00:00 Introduction
01:44 How long does it take for collection agencies to report to a collection agency?
04:44 How does a collection agency receive new files to collect?
06:36 How do collection agencies contact and monitor those in debt?
09:59 When do collection agencies report to the credit bureau?
11:05 What is the difference between a trade line and a registered item?
15:11 What is the difference between soft inquiries and hard inquires and how do they affect your credit score?
16:34 How often should you pull your credit bureau?
18:56 Statute-Barred Claims: Do I Have to Pay?
23:13 Proof of Claim Forms
29:12 Creditors plan
32:49 Settlements
37:14 Concluding comments
Related Links:
Blair Demarco-Wettlaufer on Twitter (X) https://twitter.com/kdcblair
Blair's blog: https://receivableaccounts.blogspot.com/
Blair Demarco-Wettlaufer's previous appearances on Debt Free in 30:
Episode 20, January 17, 2025 – Stop the Collection Calls https://www.youtube.com/watch?v=0tsrKacdx4U
Episode 57, October 3, 2015, Collection Agents – How Did They Find Me? https://www.youtube.com/watch?v=0SMU1R5N0ms
Episode 70, January 2, 2016, Top 10 Tips for Dealing with a Collection Agent https://www.youtube.com/watch?v=736J-IefWrI
Episode 264, September 21, 2019, How to Negotiate with a Collection Agent, https://youtu.be/ZgNWpKfBUwU?si=czAQLjQqWTOLctml 59,000 Views
Episode 296, May 2, 2020 - Dealing with Collection Calls in COVID-19: Debt Negotiations, Deferrals, and Credit Report Impact https://youtu.be/S86gnBEkeUY?si=r0HLIpLHlWfTXdN_ (During Covid, I had a beard)
Episode 373, October 23, 2021, Your Top Collections Questioned Answered by a Debt Collector, https://www.youtube.com/watch?v=Ue8gFE2Z48w
Ontario Ministry of Government and Consumer Services https://www.ontario.ca/page/ministry-government-and-consumer-services
I've Filed Bankruptcy & Collection Agents Are Still Calling Blog: https://www.hoyes.com/blog/ive-filed-bankruptcy-collection-agents-are-still-calling/
Collection Agents: How Did They Find Me? Blog: https://www.hoyes.com/blog/collection-agents-how-did-they-find-me/
Top 10 Tips For Dealing With A Collection Agent Blog: https://www.hoyes.com/blog/top-10-tips-for-dealing-with-a-collection-agent/
How Long Can a Collection Agency Collect on Debt in Canada? Blog: https://www.hoyes.com/blog/how-long-can-a-collection-agency-collect-on-a-debt-in-canada/
Stop The Collection Calls: Advice from Blair Demarco-Wettlaufer Blog: https://www.hoyes.com/blog/stop-the-collection-calls-advice-from-blair-demarco-wettlaufer/
Can a Collection Agency Sue You in Canada? Blog: https://www.hoyes.com/blog/can-a-collection-agency-sue-you-in-canada/