Nova Scotia

A Nova Scotia Collection Agency is heavily regulated

A Nova Scotia Collection Agency is heavily regulated, which also includes commercial collections. The province restricts what a commercial collection agency can and cannot do when collecting in Nova Scotia. Many of these restrictions affect commercial collections so it is wise to employ a licensed Nova Scotia collection agency.

PCR is an insured and licensed Nova Scotia collection agency. A Collection agency needs to be licensed in order to legally collect commercial debt in Nova Scotia. This includes commercial accounts. PCR specializes in commercial collections and we know the collection laws of Nova Scotia.

Sample Nova Scotia Collection Agency regulations

Here are just a few examples of how regulated a collection agency is in Nova Scotia. When a collector makes first contact they must identify themselves using I a licensed debt collector. Nova Scotia Collectors are responsible to validate a debt before commencing collection. Collectors may not take a debtor to court, unless the debt is assigned from the company that originally lent the money. This restriction means that a lawyer must be used in any legal action by a Nova Scotia Collection Agency.

In order to understand the depth of regulations in Nova Scotia, it should be remembered that for decades, Nova Scotia was a Have Not province. Over the last decade or so, the situation has reversed and the province of Nova Scotia now operates with a surplus. The average income in Nova Scotia now surpasses the country average and businesses are growing. In turn, demand is increasing for the need of a Nova Scotia collection agency.
Nova Scotia is adjusting to their new prosperity. Oil and Gas are becoming more important and their defense-aerospace industry contributes over $1.5 Billion annually to the provincial economy of Nova Scotia. Commercial debt collection is increasing in tourist related industries, the film industry and IT industry. As Nova Scotia grows, the demand for commercial debt collection is increasing and with the existing regulations it is imperative from a potential liability standpoint to only use a licensed Nova Scotia Collection Agency.

Commercial collections in Nova Scotia

Nova Scotia has a population of over 920,000 people and has the 7th largest provincial population in Canada. The majority of people live in rural areas and there are only five major collection centres that have more than 10 thousand people in Nova Scotia.

  • Amherst Collection Centre
  • Cape Breton Collection Centre
  • Halifax Collection Centre
  • New Glasgow Collection Centre
  • Truro Collection Centre

Nova Scotia has roughly 29,000 small business and another 2,600 large commercial businesses. PCR is fully insured, bonded and licensed to collect in Nova Scotia. Give us a call or schedule a free consultation with our Nova Scotia Collection Agency.
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