Debt Control Agency & Money Mart

One Down

Congratulations! A full and final can look almost any which way according to the company. Basically the key words that need to be in it are paid with zero balance, and perhaps the account # and company name.

Regards-
Mike

YAY! Congrats! Lets get some cake! :)

Yes, make sure to get the "paid in full" in writing so they can't bite you in the butt later on. That's the biggest problem with any collector..They all of a sudden forget you paid...

Now to get everything else paid off! YAY!

make sure to that it reflects the date of the payment

JJ,
I just received the full and final release from DCA. It looks like a letter and reads as follows:

In the matter of Money Mart vs. ______ Money Mart Account ______ Known all men by these presents that Money Mart in consideration of the full payment of _____ in Canadian currency, hereby releases _________ respective heirs and assigns of all actions, claims and demands which Money Mart and its respective administrators, successors or assigns here after can, shall or may have reason of relating to or assignnig out of Money Mart File No. ______.

It has DCA's address on the top left hand corner with all their particulars and is dated with today's date and signed and witnessed.

Would you happen to know if everything need for it to state is in it?

I am so excited - one down!

That looks good. It is probably the most complete one I have ever seen. congratulations

Thanks JJ!

That is a Release of Claim, It is a document that releases you from the debt. Note that you should keep that ROC as well as the settlement letter that they orginally sent you and a copy of the reciepts or your bank statments showing when it was withdrawn. Keep these records as you would the title of your car. The credit reporting agencies can and have in the past

---- sorry hit enter on accident ...

.. as I was saying credit reporting agencies can re post the debt... Transunion seems to be the worst about updating those are the tools you will need to slay the dragon.

Also know that if it does creep back up that you can file a CDV (consumer Dispute Verification form) with the credit bureaus and) according to the the FCRA (Fair Credit Reporting Act) they must respond with in 30 days or it will be deleted.

Thanks Boyd. I have all the carbon copies of the money orders I sent to them - that is the way I choose to pay them. Believe me, I have kept everything just in case . . . . you never know.

np ONE, one thing you need to do and as a Dispute Fraud Coordinator I see this a lot. Keep your Settlement Letter (if you did a settlment) I can not tell you how many incidents that come accross my desk where. Someone had $7000 account and they settled the account out for $4000 at one point in time. But, their due date was say the 31st of the month and it was received to at the other agency on the 6 of the next month. Most have a leeway time period usually 3 days. I always recommend that people either do WUQC or that they send in a money order certified mail. (I have had a case where someone had to pay off a debt in order to refinance a house and they sent a large sum via Money order that never arrived and it took 4+ months for the USPS to refund the money on the lost MO. Needless to say they did not get their refinance.) This way you have the proof you paid it off (receipts) the settlement letter saying they will settle for x amount, the proof you paid it on time (receipts) and then the ROC. The ROC is the most important part it releases you from the debt.

if you got any questions and I can help let me know. (I do apologize for the hasty response though) and keep going it does get better.

Boyd

Thanks Boyd for all your advice!

I agree that is very important to keep all documentation for years. I purchased a fire proof safe that I am keeping all my records in :-)

I completely disagree. Experiences with Debt Control Agency has been the exact opposite.

The first series of times they called me, they contacted me at work. I told them politely to call me at home because calls of this nature can have me fired. They said "well if you paid your bills we wouldn't have to call you at all." The persistently call me at work, on my cell phone, and at home, sometimes twice on each phone per day, on Saturdays as early as 8am and weekdays just after 7.

Not only that, I never received anything in writing from them about my outstanding debt and advised them that in order for me to make arrangements I need it in writing first - it's the law. They claimed a few weeks later that they sent it - must have mysteriously gotten lost in the mail - and the persistent phone calls continued.

Money Mart has since agreed to withdraw the file from Debt Control Agency because the ongoing harassment and me filing complaints to the provincial regulatory body won't bode well for them. I told Mr. Slavic (That's the guy who keeps harassing me) that the file is in the process of being withdrawn, and despite this, me paying the account at Money Mart as arranged, the phone calls and harassment continues.

This is a very irritating company and I'm doing what I can to make sure that this guy who keeps calling me, loses his job.

The one's that have been most accommodating have been Money Mart. I rather deal with them

Frustrated-have you sent them a debt validation letter? If not ,I would send that along with a cease and desist order to do only contact via mail.They need to prove they are legally bound to be able to collect. Be sure and send everything certified,return receipt.Keep notes on phone calls,conversations and times,for your records.Keep us posted on what happens...Karen

Bossy4455,

Off topic - but I have to say I love your picture!

Frustrated...can you tell me more about what you said to Money Mart? I am have the same problem with Debt Control Agency. We order our credit reports regularily, and suddenly in December/06 my husband's showed an outstanding debt to Money Mart. We did have a debt with them several years ago, but it's our understanding that it's been paid in full. I immediately e-mailed Money Mart to find out the details, if it was an oversight on our part then we wanted to get it taken care of, and if it was an error on their part then we wanted it fixed. I received an e-mail from DCA with no info except the amount and demanding we send payment via Western Union within 3 days!!! I e-mailed back and said we have no idea what this is for and requested supporting documentation. He replied that he had sent enough info and if we didn't pay in 2 days they would pursue legal action.

I don't know what to do, I want to see proof that we owe this money before I just pay it! It's almost $500 and we're a single-income family with 2 children, one who has special needs, so it's not like we have $500 to just throw around lol. Would you mind giving me a little more info on what you did? I'm going to try calling Money Mart directly but was very interested to see that you had a similar experience!

A year ago I got in an argument with some Idiot from that office. I am aware that I have a debt toward Money Mart, but I was at that time paying a huge debt with the Gov. of Quebec for student loans. And I am yet to finish with these guys. I have explained to the lady who called that I couldn't make any arrangements at the moment because I was paying my student loans and since I had only 5k left to pay on it I was going to focus on paying them first and then work with them later.

Now that was the menacing parts about my credit and stuff. I have been living with no credit whatsoever for years because of the student loans stopping me from getting a credit card or even opening a bank account to my name. So frankly another record wouldn't bug me at all. She called in the morning, evening, on my cell phone even though she knew I was going to refuse to give them a penny. Having a debt with the Government is ten time worse a company such as MMart.

Today, I've got another call from them, it seems they always choose their right time to call to bug... I am jobless at the moment, since our last call I have only 1k to give to the Gov. and I have been able to have payment stop by the Gov. until I get another job. Oddly enough the government is way more friendly that those guys from DCA.

Anyway she called and started to ask for information to verify if they were speaking to the right person, I refused to give this information since she wouldn't tell me for which company they were collecting for. Last year the girl was referring as DCA and not Debt Control Agency... so I did not make the link until I search on the web and got in your forum.

Now I know it's them... and I am not going to give them any information whatsoever because I certainly know they can't do much... they don't have my address, and they only have my phone number. And the best reason I am not working and I don't need that stress in addition. These guys don't give a damn whether you work or not, they will even suggest to borrow the money from someone so I can pay them... like it is logical... moving a debt to get another debt.

And their people skills, very bad, very very bad... I am a Tech support... I find job really fast, and good paying ones and I am fixing my credit one creditor at a time... but now it's impossible and knowing their ways I certainly know it worth nothing at this point to deal with these guys.

I will pay off all debt as I said I will but I am not going to enter into arguments and promises that I haven't made (but they claim I did)for these total retards. And when I will go pay Mmart it will be directly at Mmart... not them, I don't give a damn whether they had sold my debt to them... they can always give it to them themselves I am not going to deal with any agencies of that sort.

They sound like the same scum bags at AAA Credit Recovery Services.

Pay directly when you are ready at Money Mart - don't ever sucumb to these idiots. They can't do a thing about it unless they want to take you to court and then you will come out ahead anyway because the courts will work with you - if they choose to go down this path the idiots will spend more money (that they will never see back) on filing court documents AND they know they won't win in court which is why it seldomly if ever gets to that point.

The courts know what these people are like AND they don't like them.

Stand strong!

I wonder if anyone can help me, we are trying to get debt free this year (currently on track and should make last payment on last cc debt by December!! wahooo) However on my husbands credit report there is a money mart payday loan that he took out, this has gone to a debt collections agency by the name of "debt control agency" We wrote to them about a month ago stating that we acknowledged the debt and that we would like to make an offer (we offered 50% of the debt) and that we were keen to get rid of the debt.
I asked them to reply by letter only and asked them to send me a settlement letter stating that it would be marked off the credit rating as settled and that the debt would be paid and no further obligation yadda yadda the usual BS.
So we waited and waited and waited and nothing, I know that they got the letter as I sent it via registered mail and fax, so on Aug 1st I sent them another letter stating the fdcpa regulation that they had to reply to me in a certain number of days, and today still nothing.
The longer this goes on, the longer it stays on our credit report and whats stupid is we have the money sitting in the bank ready to be paid to them but I am not just sending a check with no written confirmation of us paying it!
So i guess my question is this, what can we do? I mean is there a law that states that if they wont get back to us we can get it stricken from the report? Im getting a little peeved that no one is getting back to us, but i bet if they had our phone number they wouldnt stop harrasing us!!
Have any of you had this encounter before and how did you rectify it?
Thanks so much

I received a call from these people saying they sent me a letter. I never received a letter so I asked them to fax it to me. They told me they had to rewrite the letter because they don't keep confidential information like that it's destroyed. Can you believe it! So they rewrote a letter and sent it to me. They will not negotiate any kind of payment with me because they said that Money Mart has asked them to take this to court. Something seems very odd here. The debt is for $300 and I'm willing to pay half now and the remaining half in two weeks. I sent them a letter back requesting this and haven't heard anything yet.

I totaly agree with frustrated. I found out i had an outstanding debt with money mart after doing a credit evaluation, and its the only thing left on my credit report that has to be taken care of. I was the one that contacted money mart first and they refered me to the debt control agency. I offered to pay the outstanding debt in payments as money is a little tight right now, and i was refused, and asked to pay the debt in full, so i told delia who they say is a manager there, as i've already tried to go over her head, and they told me that i had to deal with her. So I told her that when i save up the money, only 400 bucks, that I will pay in full, but the phone calls keep comming at all hours of the day, at work etc.
Now she wants me to make payments, go figure, but my payment amounts aren't good enough for her, ad she keeps telling me she's not going to finance my debt, what should I do, i would rather deal with money mart like you.

Don't fall prey to them. They tried to get all nasty with me but unfortortunately for them, they didn't know who they were dealing with.

I sent them a validation letter by courier (so to ensure you get a signature by them). Instruct them to cease calling you on the phone immediately. They do HAVE to stop once you request it.

Just so you know, they are absolutely unbearable to deal with but don't ever give in to them as much as they threatened you - there is nothing they can do - and I mean nothing. Debt Control Agency is known to BUY debts therefore not having a leg to stand on if they try and use the scare tactics of taking you to court.

Talk to someone at Money Mart and see what can be worked out - otherwise let DCA keep blowing hot air until they are blue in the face and accept what you are offering them. If they miraculously accept anything, get it in writing and only send them payments via money order through a courier company to ensure you have a 100% proof of record of every dealing with them.

Once again, don't fall prey to them - they take great pleasure in making peoples lives hell. I quickly learnt that and turned the ball on them which they didn't like at all but it sure felt good and they now know I cannot be intimidated let alone screwed over by absurb amounts they claim I owed. Interested how they don't want you contacting Money Mart - it is because they more likely than not purchased the debt from them for a very small amount and is turning it around trying to obtain a larger amount from you stating all these different fees, etc.

Stand strong!

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I am being very harrassed by money mart and they've called my mom and my sister and they call me up to 10 times a day its insaine these cash advance companies are no good for anybody I will never ever use money mart again or any related company EVER there horrible and rude and call several times a day like you owe them a million bucks they don't have nothing better to do but harass people my advice is to STAY AWAY FROM MONEY MART!!!!!!

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i wouldn't pay them a dime without any docs supporting what they state.danielle i would use the e-mail address they sent you from,and send a DV letter.you can put a receipt on it that shows they opened it.works just as good as if you sent it snail mail certified mail.i agree they are a bottomfeeder.all the more reason not to pay them without proof you owe.the threat of legal action immediately is an old bottomfeeder threat that should be dealt with by a DV letter.

Hey every body used to work for these guys and I can tell you they take a lot of shortcuts around the law at this place. Let me start by outlining there business structure at the eglinton office, president is a man name mohsen he has two floor managers one is named delia she deals with money mart accounts and any odd business they are able to snatch up ( other little payday loan business or any one willing to pay to contract out debt collection services), second name to know is patrick he is the cash money payday loan manager, now it is very important to know that they do not buy these debts however they do get them contracted out on a percentage basis for example if the debt is 200$ they might get a 40% comission the other 60% is then given to the originally debtee,(money mart), they also have to answer to the ministry of consumer affairs in ontario every province its own government department they must answer to and this is one of their biggest worries, they hate offiacial complaints and too many of them can get there licencing taken from them, another good recourse is to call the money mart directly and complain not about your debt but about their rudeness (and they will be rude to trust me), but more then that let them know that you are aware of your rights, another gret way to get them off your back is to write a formally letter asking for correspondance through the mail only by writting this letter they will be forced to never phone you again. Using the right verbage with these guys will get them off your back, however it will not make your debt go away. Paying money mart or cash money directly still makes debt control agency money they still get the commission. However if you negotiate with the money mart you may be able to get a lower settlement. Debt collection agency will give you only 25% off the debt maximum where as the actual debtee (money mart) will sometimes go lower, this brings me to there collection strategy it involves baseless threats, the first contact they make with you they will demand that you pay them the entire debt up front othereise they will "proceed" or forward the motion" these are all terms that mean nothing, in fact right now in canada it is not possible for pay day loan places or there collection agencies to sue you over these debts and they are not allowed to threaten it either., If any one mentions court to you or is alluding to any lawsuit or legal action of any kind they could be sued (seriously). Even if you didnt record the phoner mark the time and date of call as they have to record all calls and would be forced to retrieve this call when an official complain is made to the ministry. This is important as they have very inexperienced reps working for them. These new or inexperienced reps will mess up and say things they are not legaly allowed to say ( any legal action, wage garneshment, threats to inform third parties, or organizations are illegal) and will leave themselves liable as well as the company. Most of the reps there dont last more then 2 months due to the high stress nature of the job, and the low collection rates these type of debts have. Another thing to watch out for is there are not licenced for all provincves, ontario and alberta were the only provinces i was licensed for when i worked there (within the last year). Meaning all of the calls to any other proviince would be illegal. they do this knowingly as they are to cheap to provide licencing for all provinces. I could go on and on. So if you have any questions what so ever about this compnay feel free to post it here and ill be sure to answer it.

I have a Lady named cathy that keeps calling me at work. She has already almost got me fired! what can i do? I know she will call again soon

is there an amount of times they can only call you? any legal advice would be great.