The Collection Advisor

Why Use a Collection Agency? That’s Easy.

Posted by Brian Summerfelt on Mar 8, 2017 12:19:36 PM

 

I’m not hesitant to admit it. There is a longstanding stigma around my industry. 

It’s one I’ve been working my entire career to mitigate, while a few others have seemingly focused theirs on perpetuating it. And so, questions and misconceptions surrounding collection agencies continue to exist.

Despite that collection agencies are used by some of the biggest, smartest, most reputable businesses in Canada (many of whom I am proud to call MetCredit clients), from telecom giants to major banks, manufacturing leaders and retail chains, we continue to be a little misunderstood. And entrepreneurs still ask me: “why would I use a collection agency?’

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Topics: Collection agencies

Credit Bureaus of Canada & Collection Agencies: How they Affect Your Future

Posted by Brian Summerfelt on Jan 9, 2017 1:26:34 PM

What’s the difference between a credit rating and credit score? What are “credit bureaus” in Canada, and how do they manage your credit file? What is the impact on your credit score if your account is assigned to a collection agency?

These are very important questions, attached to big consequences. Yet alarmingly few Canadians can answer them correctly. 

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Topics: Collection agencies, Credit Bureaus

What to Do When a Collection Agency Calls

Posted by Brian Summerfelt on Aug 3, 2016 9:52:26 AM

It’s anything but a good feeling. 

Whether you’ve made a single mistake or it’s symptomatic of deeper financial hardship, getting a call from a collection agency can be distressing and worrisome. 

I started my career as a collector, and have initiated thousands of such calls. I know from experience that most debtors are good people just trying to make ends meet. Our job is not to cause you further grief, but rather to problem-solve and help find ways to honour your financial commitments. 

So, when the debt collector calls, what should you do?

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Topics: Collection agencies, Debt Management

Ontario Collection Agency Facts & Tips to Get Paid in Canada’s Debt Capital

Posted by Brian Summerfelt on Feb 9, 2016 9:39:49 AM

Ontario is Canada’s Debt Capital.

Closing on $300 Billion in provincial debt, it's a matter of shame and fury for Ontario residents, with nearly double the debt of of second place Québec and five times British Columbia’s provincial debt burden.

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Topics: Collection agencies, Debt Collection

10 Collection Agency Myths Exposed

Posted by Brian Summerfelt on Nov 9, 2015 11:28:02 AM

Collection agencies have collectively (pun intended) earned a mixed reputation over the years. It's not purely unjust, as the debt collection industry has seen all kinds of operators come and go, some exceptionally good and a few who have given life to a world of mythology through questionable practices, inflated claims and disappointing performance. 

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Topics: Collection agencies

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