Bad Credit Agency

Do collection agencys in canada have to provide monthly statements deducting payments being made?

I was contacted by porfolio management canada Inc. a collection agency. They said I owed them money. I agreed because I knew I had an outstanding phone bill. I sent a payment then they sent me a statement saying I owed 350 more than they said I did when I agreed payment. I told them that was not the agreement. They also didn't include the credit for the payment I had sent already, when I inquired they said that they didn't send monthly statements showing credits of monthly payments. I found this very questionable. I thought it was required by a business when receiving monies from a debtor. Does anyone know this to be true. Can they keep accepting payments and by law not provide me with documentaton that they are receiving these payments.???? I have contacted the Ministry of Consumer Business Services and am waiting for an email back. Thanks if anyone knows the ins and outs of this.

Public Comments

  1. The company does not have to send you any information other than the initial amount owing. It is up to you to monitor your payments and keep records.
* Some answers may have been provided by Yahoo! Answers.