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$2500 gone from my account

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ajmawalrde View Drop Down
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    Posted: 22/June/2016 at 3:04am
Hello,


I have old debit from 2005, its been 11 years and it is no longer on my credit report.
Yesterday Cibc let a company put a hold on my account and empty my account. $2500 which I was going to use to pay my CRA taxes is all gone. And they told me anything that will go into the account from now on will automatically be put on hold for them!

They said the money is for an old Cibc visa which is at 9000$ now and for old student loans. Neither are on my credit report. And in the past 6 months I have actually open 3 new credit cards with CIBC, CApital one and scotiabank. Now all of a sudden they went into my account and took all my pay.

I was planning on buying a house through a mortgage in August but now I don't know what to do!
I thought I was back on track on making my life better and they do this without any warning. 

Is there anything I can do to get the money back? They are taking money for things that are not on my report. The bank said there is nothing they can do!!! 

how is someone supposed to start building their life again. 

by them taking the payment is that going to be used as acknowledgment of the debt???


Please advise! In a panic! 

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Johnny View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 22/June/2016 at 9:39am
If you owe CIBC money for a student loan then they can take money from any account in your name, or that has your name on it with CIBC. 

The only hope you have is to carefully request they send it back and if they don't, they don't. 

I have posted many times over the past several years on this site, and that is to anyone who owes CIBC, Scotiabank, RBC, or any private lending institution money for a student loan and it is in default - stop doing banking business with that same bank. Otherwise, this sort of thing happens. 

This is a collection process called "set-off" from your bank account, and it is not a legal action - but a right of the bank you owe money to in the event that you do not pay them back for something else you owe them 
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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ajmawalrde View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ajmawalrde Quote  Post ReplyReply Direct Link To This Post Posted: 22/June/2016 at 10:02am
Thank you!
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