Operated by Porcupine Credit Corporation (2001) Ltd.
Visit us on-line at www.cbsudbury.com !
Collection Department FAQs:
There are several ways to list your accounts with the Credit Bureau of Sudbury. The preferred method is to list electronically. Some of the benefits of listing accounts electronically are that operator error is minimized, accounts reach our professional collectors faster (which means better results!), and there is a minimal amount of paperwork to track.
We have 2 online listing tools, an Adobe Reader based listing form, and a web browser based listing form (visit www.cbsudbury.com to list online). The offline electronic listing options are a specialized electronic acceptance routine (special conditions apply), and an easy to use Excel Spreadsheet listing form that can be emailed to our office for submission.
Your accounts can also be submitted to the Credit Bureau of Sudbury in writing on our pre-printed listing sheets which are supplied free of charge.
2-Is there a sign-up fee?
There is a one-time membership fee of $75.00 + GST (total $80.25) which enables you to list as many accounts as you wish (both retail and commercial).
Please supply all identifying information available: full name, address, employment(s), date of birth, social insurance number, date of service, telephone numbers, etc. The more information you provide, the better the opportunity to collect your money promptly and efficiently.
Statements and/or invoices from you to your retail debtor(s) should be supplied to the Credit Bureau of Sudbury on request only. If you have any NSF cheques written to you by your debtor(s), please forward them to our office as soon as possible. If you are listing commercial accounts, please include copies of available invoices/statements for our records.
Please be sure that your name, address, telephone number, and client number (if available) are supplied on all electronic or written listings and communications.
List early for best results! Below is a scale from a survey by the National Retail Credit Institute's Research Department as to how accounts deteriorate in value according to age:
And so on ……. So why let them deteriorate beyond three to six months?
Each account requires special handling based on the nature of the debt and the nature of the debtor. Standard procedures are to report the debt on the debtor’s credit report (subject to Equifax guidelines) and to contact the debtor in writing and verbally to secure repayment arrangements.
Credit counselling is handled by our well-trained staff. We can distinguish between debtors who need legal action as a motivator (no commission is charged on disbursed court costs) and debtors who need counselling or budgeting advice. We have the skills and tools at our disposal to recover your bad debts.
We do not take legal action lightly! This is a very extreme step that we wish to avoid if possible. Unfortunately, it is often a necessary step to recover a bad debt. We will only request “Permission to Sue” under the following general conditions:
A- the debt is of such a significant amount that the risk of incurring court costs is offset by the chances of full recovery (again, no commission is charged on disbursed court costs),
B-the debtor has made it clear that he/she disputes the amount and/or will not make a satisfactory repayment arrangement,
C-the collector is reasonably confident that, upon receipt of judgment, we will be able to enforce the judgment through garnishment or writ of seizure and sale.
When the collector determines that legal action should be taken, he/she will request “Permission to Sue” from you. We require a signature and an itemized statement (showing the interest rate to be charged) to attach to the Plaintiff’s Claim. In many cases, there will be no further action required by you. In some, however, a dispute may be filed. In such an instance, a person with “First-Hand” knowledge must appear at a pretrial hearing. A representative from our office may accompany that person if requested. If the case goes as far as reaching a Trial, the creditor must represent him or herself in front of the judge. It is very rare for a case to reach the Trial stage.
As you can see, we will recommend legal action only on those accounts worthy of such a step. For this reason, where a claim cannot be supported sufficiently to obtain a judgment (meaning the judge dismisses the case or the client refuses to proceed with legal action), then the Credit Bureau may charge a closing fee to compensate for the work and expense involved up to that point, said fee not to exceed 10% of the balance submitted for collection.
Under the regulations of “The Collection Agencies Act”, we cannot advance costs on your behalf – they are payable by you, added to the claim, and returned to you, commission free, from the first monies recovered on that particular account. We seldom know exactly what the costs will total, so we may invoice you for these costs as we pay them, or contra them from other funds owing to you. The Credit Bureau of Sudbury may request an advance of estimated costs when a dispute is anticipated, costs are expected to be high in relation to the balance of the account, or district court action is required.
Please advise us immediately by phone! For credit reporting and account handling purposes, it is very important that we process all transactions as quickly as possible. There may be charges (ie. legal fees) that are outstanding that you may not be aware of, therefore it is very important that you do not issue a receipt for “Payment in Full”. Receipts should only state “On Account”, unless a Credit Bureau representative has informed you otherwise. Commission is owing to the bureau on all accounts paid, whether they are paid to you or to us. We attempt to have all payments remitted to us to avoid confusion.
We request that you do not make arrangements with your customer – you are paying us to collect for you and you may be accepting arrangements refused by us for valid reasons. Your customer will resent and resist further contact from us after dealing with you. In addition to this our terms and conditions state that “in the event that the client makes any direct arrangements with the debtor or intervenes in any other manner to prevent further collection action by the Credit Bureau, then there shall immediately become due and payable to the Credit Bureau, an amount equal to the charges that would have been payable had the Credit Bureau successfully collected the whole amount of the debt”. As you can see, it is very important to minimize contact with your debtor after you have listed his/her account with the Credit Bureau of Sudbury.
We are simply a call away! Please feel free to contact one of our customer service representatives if you have any questions or concerns about the accounts that have been placed with us. If you require a report on the progress of multiple accounts, or need the report in written or electronic form, we will provide you with a “Client Inventory Report” either on paper or on disk (can be emailed). There is no charge for up to two (2) Client Inventory Reports per year. Additional reports will be provided for a nominal handling fee ($25.00 + GST).
Under “The Collection Agencies Act”, we must disburse by the 20th of the following month, all funds due to our clients in excess of $15.00 net. For example, funds recovered in March, plus court costs recovered (commission free), less commission owing and court costs charged, which result in a net cheque to you in excess of $15, are remitted to you by April 20th at the latest. If payments made to you, or court costs incurred result in a debit, you will be invoiced. Cheques and remittances are generally run in the first week of each month and will include all transactions posted in the previous month.
The regular commission rates and terms and conditions are printed on the back of the Credit Bureau of Sudbury listing sheet. They are also available on the internet at www.cbsudbury.com.
Our listing sheet is our contract in most instances. If you choose to list electronically, depending on the method you use, you will either have to sign a separate contract or the computer will force you to accept the terms and conditions before allowing you to submit an account for collection.
There are several low-cost tools made available by the Credit Bureau of Sudbury to aid creditors in managing their Accounts Receivable.
A.R.M. & Pre-Collection systems are available to help you recover delinquent accounts (at low or no commission rates) when you want to give your customer one more chance before taking immediate collection action.
PPSA REGISTRATION AND SEARCHES FROM YOUR OWN OFFICE ! Now you can register and search PPSA chattels via your fax machine or computer. You need to secure your assets – quickly and accurately. You want to be ranked first in priority sequence when you register your security. You can register against any property that is being used as collateral, and you can do a search to see if anyone else has registered against the same collateral before you. Be aware of how secure your security is! Simply call the Credit Bureau of Sudbury to get you set up with this valuable service.
Free Final Demand service is an effective method of collecting past due commercial accounts over $500 free of cost, which increases your cash flow.
The Credit Information Bulletin is published approximately nine (9) times per year, and includes bankruptcies, notices to creditors and non-responsible notices for your local area. The cost of this Bulletin is $45.00 plus G.S.T. per year (total cost $48.15).
We are: “ The People People Pay ”
Living and working in
Our computerized collection
system is one of the most modern, up-to-date systems available, and it was
developed by our own programmers! Using
our years of collection expertise, we diversified our business in the 80’s by
opening Porcupine Computers. This
company is responsible for writing and supporting a collection system used by
40 + offices across
We collect more money, for
more clients than any other agency serving
“WE CAN COLLECT FOR YOU!”