Prince Edward Island

A Collection Agency must be licensed as a PEI Collection Agency to legally collect debt in PEI

This includes commercial debt collection and a collection agency has to be licensed and bonded for debt collection in Prince Edward Island or PEI. PCR is fully licensed and bonded as a PEI Collection Agency to collect commercial debt in PEI. PCR specializes in commercial collections and is a commercial collection agency.

Prince Edward Island or PEI is the smallest province in Canada with a population of 145,000. The majority of PEI commercial debt collection is related to the agriculture, tourism and fishing industries. However, PEI has been diversifying into other industries like aerospace, bioscience and renewable energy. In order to collect commercial debt in PEI an agency must be a bonded and licensed, as a Prince Edward Island collection agency.

PEI only has four cities with over 5,000 people – Charlottetown, Cornwall, Stratford and Summerside PEI. It should also be kept in mind that PEI is an island connected to the mainland by the longest bridge over ice covered waters in the world. The entire island is easily accessible, as PEI has the highest concentration of roadways in Canada.

The regulations for a PEI collection agency are based on common sense

The collection regulations for a PEI Collection Agency protect the rights of retail and commercial consumers in PEI. While the area of commercial collections is a grey area, common sense prevails the regulations come into full effect when pursuing a consumer who has guaranteed a commercial debt and resides in PEI.

The major prerequisite for collecting in PEI is that a collection agency has to be licensed and bonded in PEI. The danger in NOT using a licensed PEI Collection Agency is the potential liability issues. Should an unlicensed collection agency make a mistake then the creditor can end up sharing the consequences or liability. This also extends to commercial or B2B collections in PEI.

Make PCR your PEI Collection Agency

PCR is licensed in PEI and is primarily a commercial collection agency. We are licensed and bonded in all Canadian provinces and territories except Quebec where we have a strategic alliance. We have seasoned and experienced collectors who know the collection laws of PEI and any conflicts caused by out of province agreements.

Did You Know?
In Ontario It is illegal for a collection agency to communicate with a debtor using any name other than the name under which the collection agency is registered. This means it is illegal for a collection agency employee to hold himself out as calling from the creditor, a law firm, or some government agency.

Commercial debt collection usually entails higher balances and risks than consumer collections. This is true in PEI and all of Canada. PCR has a proven track record and if you have debtors located in PEI give us a call or schedule a free consultation with our PEI Collection Agency.
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