Cellphone/Credit Card Debt
Date: Wed, 12/12/2012 - 11:00
Ive had my cellphone disconnected and visa account closed 5 years ago because I payed zero attention to my phone(I thought the credit card would pay itself through my chequeing account). When Telus gave the debt to a collection agency it was about 900$, now I think the outstanding balance is $2100 i'm not sure, I do not know how to read this Equifax credit report. Can they build up interest on debts? should I try to pay it? should I wait for the SOL? I am just really stressed out and do not know what to do so if the community could give me any advice I would be grateful.
I live in Edmonton, Alberta, Canada.
I live in Edmonton, Alberta, Canada.
I am not very clear on
I am not very clear on Canadian debt collection laws but going by the rule of thumb, debts in collection do accrue interest as per the original agreement/contract and sneaky collectors like to sit on debts in order to push up the billing amount and the move to court sometime just before the SoL hits the mark.
