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Consumer Alert - Licence of Calgary Collection Agency Suspended

October 21, 2003

Calgary ... Alberta Government Services has suspended the licence of Concord Accounts Servicing House Ltd., operating as CASH Express, following an investigation into possible misuse of the agency's trust account funds. As a result, Concord is no longer allowed to collect debts on behalf of creditors in Alberta.

The department took the action after an inspection of Concord's books showed irregularities in the company's handling of trust money. The review showed the agency was taking more commission from collections than it was entitled to. Concord also failed to issue payments to creditors within the time required by Alberta's Fair Trading Act.

Concord's bank accounts have been frozen and the investigation continues.

Alberta Government Services advises debtors who have made payments to Concord to contact their creditors directly. Creditors are likewise advised to contact their debtors to establish the balances still owing on outstanding debts. Discrepancies should be reported to the department by calling the Consumer Information Centre toll-free at 1-877-427-4088.

Under the province's Fair Trading Act, collection agencies must be licenced. Agencies are required to deposit all money received from a debtor into its trust account within three days of collecting it. Trust account funds cannot be withdrawn except to pay creditors the money received on their behalf or to pay the agency the fees to which it is entitled. Collection agencies are also required to remit the money collected for a creditor by the 20^th day of the month following the date it was received.

For more information on collection agencies, a tipsheet called Dealing with Bill Collection Agencies is available through www.gov.ab.ca/gs (click on Forms and Publications) or the Consumer Information Centre.

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Gwen Vanderdeen-Paschke
Alberta Government Services
(780) 415-6051