hello i had a phone bill from when i was 18 it went to collections in june 2007 and the amount was for 514 dollers.... the collectors recently contacted me saying i owe 950 dollers due to the interest that has built up over the years... my file is also now sitting in a law firm... im just wondering can they press charges after this long?..
I am not familiar with the laws in Canada and am not an attorney. I would suggest therefore, that you contact a consumer law attorney in your area who helps consumers resolve debt collection problems to find out what the law firm is entitled to do to collect the money you owe.
If you were in the US however, the firm would probably sue you in small claims court and if it won a judgment against you, it would try to collect on the judgment by garnishing your wages or putting a lien on an asset you owed. Meanwhile, your credit history would be badly damaged by the judgment, which would limit your access to affordable credit, and might also affect your ability to obtain adequate insurance, to rent a place to live and even get the job you want.
If you were living in the US, I would strongly advise you to contact the law firm that has your past due account and try to work out a way to clear up the debt so you can avoid being sued. If money is tight for you right now, why not get a second job for a while and use that additional income to pay what you owe?
