BC and Canadian Credit Bureaus – BC and Canadian Debt Collection
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R0 Too new to rate; approved but not used;
R1 Pays (or paid) within 30 days of billing; pays account as agreed;
R2 Pays (or paid) in more than 30 days, but not more than 60 days, or one payment past due;
R3 Pays (or paid) in more than 60 days, but not more than 90 days, or two payments past due;
R4 Pays (or paid) in more than 90 days, but not more than 120 days, or three or more payments past due;
R5 Account is at least 120 days overdue, but is not yet rated 9;
R6 (Code 6 does not exist.);
R7 Making regular payments under a consolidation order or similar arrangement;
R8 Repossession (indicate if it is a voluntary return of merchandise by the consumer);
R9 Bad debt; placed for collection; skip.
CREDIT INQUIRIES TO THE FILE: An Inquiry made by a Creditor will automatically purge three (3) years from the date of the inquiry. The system will keep a minimum of five (5) inquiries.
CREDIT HISTORY AND BANKING INFORMATION: A credit transaction will automatically purge from the system six (6) years from the date of last activity.
All banking information (checking or saving account) will automatically purge from the system six (6) years from the date of registration.
VOLUNTARY DEPOSIT – ORDERLY PAYMENT OF DEBTS, CREDIT COUNSELING: When voluntary deposit – OPD – credit counseling is paid, it will automatically purge from the system three (3) years from the date paid.
REGISTERED CONSUMER PROPOSAL: When a registered consumer proposal is paid, it will automatically purge three (3) years from the date paid.
BANKRUPTCY: A bankruptcy automatically purges six (6) years from the date of discharge in the case of a single bankruptcy. If the consumer declares several bankruptcies, the system will keep each bankruptcy for fourteen (14) years from the date of each discharge. All accounts included in a bankruptcy remain on file indicating “included in bankruptcy” and will purge six (6) years from the date of last activity.
JUDGMENTS, SEIZURE OF MOVABLE/IMMOVABLE, GARNISHMENT OF WAGES: The above will automatically purge from the system six (6) years from the date filed.
COLLECTION ACCOUNTS: A collection account under public records will automatically purge from the system six (6) years from the date of last activity.
SECURED LOANS: A secured loan will automatically purge from the system six (6) years from the date filed.
(Exception:P.E.I. Public Records:seven (7) to ten (10) years.)
Reporting Standards and Consumer Protection
Credit Bureaus share information within a system known as the National Equifax Network. The network observes strict standards governing reporting of adverse information and purging of credit reporting records. The credit bureau must investigate and use its best efforts to confirm disputed negative information.
A consumer has a right to full disclosure of the content and the source of any information on his or her file. The Registrar of Credit Reporting Agencies recognizes that all complainants consider their issues to be very serious. For that reason the Credit Reporting Branch insists that credit reporting agencies and creditors provide prompt and complete reports to the consumer about adverse credit information.
Debt collection is provincial law. The law attempts to strike a balance between giving creditors an opportunity to collect the money that is owed to them and preserving the debtors’ rights not to be unduly harassed and to be treated with dignity. Collection efforts can be persistent but collectors cannot phone at unreasonable hours or jeopardize the debtor’s job by interrupting him or her at work.
Unreasonable Collection Practices
The following are some of the unreasonable collection practices outlined in the BC Business Practices and Consumer Protection Act:
Debt collectors are not allowed to:
• Make a charge or threat that has nothing to do with the collection of the debt;
• Make abusive calls in which they lose their temper and use profanity or other verbal abuse;
• Talk to your employer without your permission, unless it’s to confirm your employment;
• Talk to you, your family or your employer in a way that will humiliate or distress anyone.
• Make frequent calls that constitute harassment. Unless you provide the reason, a collector should NEVER call you more than once a day. Reasonable collection practices should not require that the collector call you more than once a week or every second week in order to determine if your financial situation has changed;
• Give you a document that is made to look like an official court document when it isn’t.
Reporting Complaints about a Collection Agency
Make your complaint to:
Director of Debt Collection at 1-250-356-6035 or by fax at 1-250-953-3533.
Director of Debt Collection
PO Box 9297, Station Prov. Govt
(Wharf and Fort)
Victoria BC, V8W 9J8