We have completed much research together with many members of the Canadian Private Lending Community since we have last communicated.
Here is the cross road we have come to regarding the matter at hand:
The Defendant takes the position they completed a reasonable investigation regarding this matter.
The Plaintiff takes the position the Defendant could NOT have completed a reasonable investigation considering the circumstances surrounding this matter.
Therefore the point in question is
“Did Equifax complete a reasonable investigation?”
The following are reasonable questions the Plaintiff has for the Defendant in order to decipher this point:
Who was the Investigating Employee?
What were the investigative steps performed?
Is the Investigating Employee aware of the package served to the Plaintiff?
Do they understand the content of the package?
Is the Investigating Employee aware debts are bought and sold?
Is the Investigating Employee aware the creditor could have sold the debt?
When the Investigating Employee called the Creditor, what was the line of questioning?
Considering the Investigating Employee must have been aware of the content of the package the Plaintiff served the Defendant at the time of the call to the Creditor, did the Investigating Employee ask the following question:
Why would the Creditor report late payments when the Plaintiff together with the Private Lender was attempting to payout the debt in full?
Why can’t the Creditor produce verifiable proof they are in fact still the rightful owner of the debt?
Does the Investigating Employee understand that verifiable proof of ownership of a debt is The original wet ink signed contract (NOT a photocopy ) accompanied by a sworn affidavit by a Chartered Accountant stating they have looked at the ledgers and the debt has not been sold?
Does Equifax consider a reasonable investigation between Creditor and Borrower to call the Creditor and ask if they did report it and simply take the Creditors word for it?
What are Equifax requirements for Creditors to create the original file between an alleged Creditor and Borrower?
What are Equifax requirements for Creditors to report derogatory remarks on a Borrowers Credit Report?
Once Equifax opens a file with verifiable proof the Creditor is the rightful owner of the debt what checks and balances are in place to check the Creditor has not sold the debt in between reports?
Please provide the Defendants answers via email in a timely fashion.
I will be calling to discuss this email in the near future.
Have a great day!