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Commercial Debt Collection In Canada Commercial Debt Collection In Canada
Thursday, May 6, 2021
Commercial Debt Collection
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Collection Comparisons in Canada vs USA
Commercial Debt Collection in Canada
The biggest mistake made by American Companies with commercial debt collection recovery in Canada, is having a US collection agency collect in Canada, when in reality; very few can do it legally. Many US collection agencies will claim they can collect commercial debts in Canada without being licensed. In Canada, you HAVE TO be licensed to collect consumer AND commercial debt in Canada unless you are a first party lender or have purchased the debt.

These agencies are playing roulette with your Canadian commercial receivables. As long as they contact Canadian debtors that have no idea what their rights are, they press on. However, sooner or later, an educated debtor changes their luck. All of a sudden a large government agency enters the picture, creating a possible liability to them and even worse, dragging you into the fray. To make matters worse the debtor now has a valid defense should the account ever have to be sued.

Make sure the agency complies with all provincial licensing and bonding laws in Canada. Experience is often a good indication of quality. Also, determine if the agency holds membership in national trade associations such as ACA International, the Association of Credit and Collection Professionals (ACA) or the The International Association of Commercial Collection Agencies. Members of ACA & IACC agree to comply with all federal and provincial/state laws and regulations, as well as the ethical standards and guidelines established by each association.

Of course there are a lot of other factors in collecting commercial debt in Canada. Questions or want to find out how to get your money? Simply click on the $ and choose your contact option. Your enquiry will be handled by a collection professional, with 20 years of experience, who can explain the nuances of collecting commercial debt in Canada versus the United States 
Did you know?
  • In Canada, the Collection, Retention and Disposal of Personal information is subject to the Canada Privacy Act

  • In Saskatchewan a collection agency shall not commence or continue a lawsuit for the recovery of a debt in the name of a collection agent as plaintiff unless the collection agency has purchased the debt for valuable consideration and the debtor has received notice of the sale of his account.

  • In the Yukon a collection agency must obtain a collection agency license in the Yukon under a specific name. It is illegal for a collection agency or a collector to communicate with a debtor in the Yukon using another name. This means it is illegal for a collector to inform a debtor or anyone else that he is calling from a law firm, the creditor, or some government agency.

Did you know?
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