FAQs

Who is Canaccede?

Canaccede Financial Group is a Canadian based company, with its head office in Toronto, Ontario, Canada. Related businesses include Canaccede International Management Ltd., Canaccede International Investments Ltd.

With COVID-19 top of mind, we wanted to make sure that you are supported throughout this time.

If you are directly impacted by COVID-19, there are affordable options available to you based on your situation. Contact the approved Canaccede partner that you were dealing with regarding your debt, or email Canaccede directly at client.services@canaccede.com.

Here are some commonly asked questions. We will continue to update this page with answers to commonly asked questions.

My financial situation has changed. I am worried about being able to pay my bills.

We have always had and will continue to have flexible payment solutions for our customers. It is critical to reach out if your situation changes so that we can discuss payment options. You can contact your approved Canaccede partner regarding your debt, or email Canaccede directly at client.services@canaccede.com.

There is a lot of talk about support from the Federal Government. I don't know what is available or how to access it.

As part of our commitment to you and your family, we wanted to share the various government resources that are being made available. This information changes rapidly and we will try to keep our FAQs up to speed.

Here is the contact information to several government agencies. We found these links useful to help understand what the Federal Government is doing to support Canadians during this situation. Note that this information is as of April 6, 2020:

Who qualifies for the CERB?

It's available to wage earners, contract workers and self-employed people who don't qualify for employment insurance (EI).

The benefit will be available to workers living in Canada who are at least 15 years old and who:

  • Have earned at least $5,000 in 2019 or in the year before their application from employment, self employment, employment insurance maternity and parental benefits, and/or similar benefits paid in Quebec under the Quebec Parental Insurance Plan (QPIP), or a combination of these sources.
  • Are without income for at least 14 consecutive days in a four-week period because of COVID-19, because they have temporarily stopped working, lost their jobs, are sick or in quarantine, or need to care for a child or a family member.
Where do people apply?
  • The online portal to apply for CERB will be available April 6, 2020, and people can expect payments within 10 days. CERB payments will be issued every four weeks and will be available from March 15, 2020 to Oct. 3, 2020.
How can I apply?
  • There are two ways for Canadians to apply: online with CRA My Account or over the phone with an automated phone service. If applying online or by phone, Canadians will receive a payment by direct deposit or by cheque.
  • If applying online, Canadians will have to sign into CRA My Account. They should go to COVID-19: Canada Emergency Response Benefit in the alert banner at the top of the web page, select the period they want to apply for, declare that they qualify for the benefit and confirm the government has the right payment information.
  • If applying over the phone, Canadians can call the automated toll-free line at 1-800-959-2019. This is a dedicated line for CERB applications. Before people call, they should have their social insurance number and postal code handy to verify their identity.

Both of these services will be available 21 hours a day, seven days a week. Both services are closed from 3 a.m. to 6 a.m. ET for maintenance.

Support for individuals and families Support for people facing unemployment Support for people who are sick, quarantined, or in directed self-isolation Support for people who are unable to work: Support for seniors: Support for students and recent graduates:

What does Canaccede do?

Canaccede purchases performing and non-performing and insolvent consumer receivables from financial institutions. We work with our customers to determine a suitable and often a more flexible payback schedule.

Why does Canaccede own my debt?

Financial Institutions will sell an account for several reasons: the account may be behind in payments, it may be part of personal bankruptcy or the institution may decide to sell a portion of their ongoing business. In all cases, Canaccede has purchased your account from the original financial institutions and you are now a Canaccede customer.

Why should I pay Canaccede and not the original creditor?

Canaccede has purchased your account and is now the legal owner of the debt. If you pay the original creditor, your funds may be delayed in being applied against your account.

Why did a company other than Canaccede contact me?

Canaccede works with a number of regional companies and a specialist from one of these companies might contact you.

Will Canaccede protect my privacy?

Canaccede is committed to your privacy and adheres to all Canadian privacy legislation including the Personal Information Protection and Electronic Documents Act (PIPEDA).

How do I dispute my debt?

We pride ourselves on complete transparency here and an account representative will gladly review the information we have.

For additional clarification, please email client.services@canaccede.com with the details so we can assess the situation further. Our goal is to work with you to clear this situation and your debt up as efficiently as possible.

I am ready to start. Whom do I pay?

The account representative that's been in contact with you will be happy to help or you can get in touch with the name listed on the notice you received. Either of these professionals can get you started and work with you to implement a strategy that works within your budget.

Connect with Us

If your organization is looking for new ways to expand your capital pool, maximize your efficiencies or just explore how to think about managing your various consumer debt obligations, reach out to Canaccede today for an open exploratory discussion.

Industry Insights from an Industry leader

Canaccede is a leading provider of debt and insolvency purchasing and servicing solutions for institutional accounts receivables in Canada. Explore our ever-growing resource library to discover our industry insights and how we approach best practice solutions across industries.