File Opening
This many portfolio's fall under the FCT umbrella.
What is 5?
In New Brunswick this is used to place a lien against a PID.
What is a Form 34?
In Nova Scotia this is used to enforce a judgment, including but not limited to garnishment and sale of land.
What is an Execution Order?
Each client has settlement parameters, this client allows us to reduce the debt to a maximum of 70% of the principal.
What is The Bank of Nova Scotia?
This is the first trigger in a files life span that a billing request would be sent to the admin team.
What is Judgment obtained and final report completed?
Demand letters must be issued with in this many days of a file being assigned for Bank of Nova Scotia files.
What is 5 Days?
In Nova Scotia a Form 4.03A and 4.03B are issued at this stage.
What is pleadings?
The purpose of this is to gauge the debtors financial situation and potential assets for repayment.
What is a debtor examination and/or discovery?
Capital One procedures allow us to make this many call attempts per account per day.
What is 5?
This list for all the funds in trust that either have to be sent back to the debtor because we collected too much money or for a Satisfaction Piece?
What is the Do Not Clear list?
This must be posted on all Capital One files to identify difference between the summary page and the CB.
What is a Identity Verification Note?
In all provinces except this one, we are able to effect service by sending the Action and an Acknowledgement of Receipt Form via registered mail, personal service is only deemed effected once the Acknowledgment of Receipt Form is returned.
What is a Nova Scotia?
In Newfoundland a debtor must be served (personally or via registered mail) with this document, they then have 15 days return this document before we can proceed with garnishment.
What is a Financial Questionnaire?
This NBC program reduces the debtors balance by a particular percentage if they repay the balance within the agreed upon time frame.
What is the Credit Card Relief Program?
FCT clients will pay us for certain disbursements as long as they are posted within this many days from the date it’s incurred.
What is 30 calendar days?
This code indicates that an account is revolving and is over 120 days late on payments.
What is an R9?
This form is filed in the Nova Scotia Probate Court to initiate a claim against an estate.
What is a Form 32?
A judgment must be this old in order to proceed with a sale of land under execution.
What is 1 year?
This Act prohibits us from speaking with anyone but the defendant on our files, unless we have obtained an ok-to-speak-with.
What is the Privacy Act?
There are this many different RBC fee for service component codes (activity codes).
What is 12?
Our team receives files from the secured team to enforce these types of judgments.
What is a Deficiency Judgment?
A deficiency judgment is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full.
A defence period is the time frame in which Defendants can file a defence against our claim before we can file for default judgment, each province has their own time periods, list the amount of days for each province (in province service only).
- NS: 15 day (weekends and holidays excluded)
- NB: 20 days (King's) 30 days (Small Claims)
- NL: 10 days
- PE: 20 days
In Nova Scotia to garnish a federal employee, service of the required documents must take place within this many days of the execution order having been issued by the court.
What is 30 days?
What is $774,825.22?
These five things must be included in the credit tab note for a PIF file.
What is total amount in trust, amount going to client, what the funds represent, if the amount is being split between multiple assets, and any holdback amounts?