Canada Debt Collection – No Win No Fee
Creditreform operates a global specialist International debt collection service. We have local offices and fully approved expert international debt collection agency partners in every country worldwide. All our International debt collection agency partners and offices operate on a No Win No Fee basis charging an agreed commission against monies recovered only.
– Location of offices in Canada
Vancouver, Edmonton, Toronto
– Number of staff
15
– How long been operating in Canada
90 years
– What type of debts do you recover?
Both commercial (B2B) and consumer (B2C) debts.
– Statute of limitation in Canada
6 years
– How EU laws effect debt collection in Canada?
Canadian laws supersedes all EU laws for debtors residing in Canada. EU laws will have no bearing on collections whatsoever.
– How many registries in Canada for businesses? (i.e. UK just has 1 central registry)
1 for each province and territory and 1 for Federal.
– What is the process in Canada?
In Canada, we do not have to send a registered mail. We can simply send a demand letter out by mail or email and then wait 5 days before we can start calling them to collect on an account.
– Average length of time to collect?
Average is about 45 days for the first payment.
– Can late payment fees / interest be added to claims?
Only if the debtor signs a contract agreeing to fees and interest prior to the product or service being provided by the creditor.
– Details on legal service / process in Canada
Legal actions and procedures differ between provinces and territories. Hence we have different guidelines for each.
GDPR can make debt collection challenging as when we request invoices, medical providers may not be able to provide it to us. The other challenge would be on your end. Canada is recognized as a secure country under the GDPR and we can obtain documents as such. However, from time to time, we recognize that a debt collection agency in Europe may not be able to send invoices to us because their capability of sending invoices may not be considered GDPR compliant.
There are many unique requirements to recovering international debts in all countries including Canada debt collection services which differ from the UK and therefore it is very important that cases are handled directly by our expert international debt collection agencies and not from the UK office. This method of international debt collection sets Creditreform aside from the competition who in many cases try and recover debts from a UK office base only. Using the local offices and partners enables us to achieve a far greater success rate and our No Win No Fee service together with competitive commission rates against monies recovered only ensures you get the best service.
