PCM Corp Is Licensed Across Canada
Third-party debt recovery firms, like ours, are highly-regulated when it comes to dealing with consumers and provincial debt compliance. And, to make matters worse, provincial legislation in the B2B space is not consistent across Canada.
Make sure you hire a credit management company that understands and can navigate provincial debt collection compliance.
Find out more about our Debt Compliance Services:
Call Toll-Free 1-866-895-1622
Why This Matters
Out of an abundance of caution, Priority Credit Management Corp (PCM Corp) holds itself to the strictest level of provincial debt compliance regardless if the transaction to be collected is consumer (B2C) or commercial (B2B).
For the protection of our clients, PCM Corp has elected to remain compliant with provincial legislation across Canada, and here is why:
Debt recovery firms are NOT required to maintain trust accounts or bonds on trust money in most provinces. We have opted to carry bonds on our US and Canadian trust accounts. In the event our CEO Brad Lohner should ever decide to empty the trust account and run away to a tropical island (just kidding!), we have you covered.
Credit Bureau Reporting
If your firm is based outside of Canada and you are using a non-resident recovery firm (in the USA, for example), you may not be receiving the full benefit of the tools that a Canadian commercial recovery firm can offer. Non-resident debt recovery firms are unable to report to the business principals credit bureau in Canada.
It is due to this fact, that PCM Corp acts on behalf of some of America’s largest commercial debt recovery agencies. With our help:
- Creditor’s funds are recovered.
- The foreign agent doesn’t need to worry about provincial debt collection compliance.
PCM Corp also offers services for Collecting Canadian Debt In The USA.
The goal of successful recovery is to get cash flowing without getting you on the front cover of the city paper. Although obtaining a license to collect can be a fairly uncomplicated process, we are also obliged to follow the rules of conduct laid out by each province. For example, in British Columbia we are unable to contact an account holder after 9pm local time.
PCM Corp can use all of the tools at our disposal to bring about a successful recovery of funds while protecting the creditor’s reputation and brand in the marketplace.
If You Have Clients In More Than One Province
(or Country) We Can Help You
PCM Corp has been helping Canadian businesses with credit control and debt recovery since 2005. We take security compliance very seriously and provincial debt compliance services are an integral part of our credit management offerings.
If you would like to learn more about the provincial debt compliance requirements in each province and territory, we have provided links below for your study.
Contact PCM Corp
If you would like more information on this subject, or if you have any questions, please contact our credit management team by calling toll-free at 1-866-895-1622 or complete our online contact us form.
Check out our Quality Control Balanced Scorecard to learn more about how we hold ourselves accountable to ensure the utmost integrity for our client’s files.