Dealing with Abusive Collection Agencies

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Interest ratesgoing up?

Printed From: CanadaStudentDebt.ca
Category: Immediate Attention and Info!
Forum Name: Dealing with Abusive Collection Agencies
Forum Description: Help can be found here for dealing with these problems!
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=3386
Printed Date: 26/March/2026 at 10:30pm
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Topic: Interest ratesgoing up?

Posted By: lordchezz
Subject: Interest ratesgoing up?
Date Posted: 12/March/2006 at 2:04pm

I got my first call from a CA ...this is a little off topic since its not a student loan, but I am a student so here we go

It's regarding a rogers cellular bill. I was contacted Thursday by CBCL and they made be an offer to settle the delinquent bill. The lady then said if I would not pay up by Monday (tomorrow), the interest would go up 24%/day...Can they do this?

Based on what I read, they can't but can anyone confirm with me?

Thanks

Replies:

Posted By: Buff
Date Posted: 14/March/2006 at 3:47am

That was just to scare you into paying the whole thing right away. It's a common move by collection agents.

If it's your first call, you probably didn't know anything and they were looking to take advantage of that.

Collection agencies merely collect money. Interest will continue to accrue until the bill is paid, but at the rates set out in your original contract. The collector can't change the original deal.

Buff