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Susie View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Susie Quote  Post ReplyReply Direct Link To This Post Posted: 30/October/2006 at 5:49am
CA CAN SAY ANYTHING THEY WANT, THEY JUST WANT YOU TO PAYOFF YOUR LOAN SO THEY CAN GET COMMISSION. THEY CAN'T DEMAND YOU HOW MUCH MONTHLY PAYMENT TO MAKE. EVEN IF YOU SENT $10 POST DATED CHEQUE THEY HAVE TO ACCEPT. THEY WOULD STOP CALLING YOU AS SOON AT THEY RECEIVED CHEQUE. (YOU CHOOSE HOW MUCH YOU WANT TO PAY MONTHLY, NOT CA). 
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angellaw View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote angellaw Quote  Post ReplyReply Direct Link To This Post Posted: 08/January/2007 at 2:00pm
Hi All
 
One thing I know for a fact is that we can put the collection agencies out of business. What they do is buy these delinquent loans from these companies and try to do good on collecting payments. They will hound you to make payments using all kinds of intimidations just to get their point across. I am speaking from experience. I get calls at work, home. They even sent letters to me at my office demanding payments.
 
Sure they are voltures and if you show them fear they will keep up with the charade. What you should do if your loan is default, send a letter to the collections dept. of CIBC or where ever the loan is. In that letter state how much you can pay per month (this should be something that your pocket can handle monthly), have a section in this letter for them to sign and have them send that signed copy back to you.
 
Make sure that you have a copy of that letter...reason this will show the courts (if they get involved) that you made an attempt to settle this matter. If you are successful make out your post dated cheques to this collection dept. (not the collection agency) and copy each cheque for your files. Should CIBC or where ever cash any of these cheques this is also proof that they accept your payment terms. If this should end up in court or with any collection agency you have your backup copy to refer to.
 
DO NOT LET ANY COLLECTION AGENCY intimidate you as that kind of fear is what keeps them in business. First off when they come on the line let them know that 'YOU KNOW YOUR RIGHTS', and that you dont have to take their calls as you had no business with them. Record each and every call...if they call you more than 3 time per day, record their name, phone number, and the time of the call. Let them know that you are going to call the police as that's harrassement. That I know for sure will really piss them off as I said I am speaking from experience.
 
If they can't collect on any bad debt how in gods name are they going to stay operative. (Trust me they know this). If you are not able to make arrangements with the collection department of CIBC etc. get a credit couselling agent involve, never resort to consumer proposal as they file their claim with the credit bureau as a bankruptcy and even though they file this claim and you are paying them to help you with this debt you can still get screwed as they only help you cover a portion of that loan and once your transaction with them is finish you still have the remainder of that loan to pay.
 
A lot of you are doing the right thing by making payment arrangements with the collection agency but know that you are not entitled to pay them anything no matter what they say, and they will call to say my client wants us to take you to court or wants us to do whatever it is necessary to collect this money. There are very useful info on www.canlaw.com about collection agencies and how they work, what they can and cannot do, there is also a section on the collection agency act, and also a referral site for lawyers who can give advice as to how to approach them.
 
Every agency is goven by higher authority who helps to keep them in check and in line. DONT LET THEM INTIMIDATE YOU, as if they know they get to you then they will think that they win. Only the creditor can sue you or take you to court. I am not saying that you should let your loan go delinquent, however if it is transfered to a collection agency that means your credit is already screwed, but the ball is always is your court and only you can get that credit back on track.
 
Thanks,
Angella
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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: 10/January/2007 at 5:46am
The authorities that govern collection agencies rely on collection agencies to collect their accounts. Collection agencies and certain provincial governments have a very unique relationship with one another.

It goes much deeper.

Johnny
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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Kel_Bel View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kel_Bel Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2007 at 5:32pm
I'm new here and thank god I found this forum.  I have been reading that CBCL is no longer in charge of collecting student loans.  In Nov 2006 I recieved a letter from them saying final notice.  So I called and ened up sending them 6 months of post dated cheques.  What do I do now.  They still have 3 of my cheques.  Should I stop payment on those cheques?  And if they are no longer in charge of collecting how come they sent me a letter in Nov?  Where has my money gone to then?  The amount is only 50 a month but I'm not paying them, if it's not going to my loan?  What should I do?  I need to know fast so I can cancell the cheques if I need to.  Please help me!!!!!
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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/February/2007 at 5:58pm
CBCL no longer has carriage of CSL and CIBC student loan acounts. If you would like us to look into this and repair any damage, contact me privately. You can find my contact information at www.cfwgroup.ca

Johnny
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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Tape_Worm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tape_Worm Quote  Post ReplyReply Direct Link To This Post Posted: 21/March/2007 at 7:48pm
Interesting.  And disturbing.  I've gotten a couple of calls in the last 2 months from a John Saso at CBCL stating that Scotiabank is demanding I pay my CSL.  He's claiming Scotiabank is attempting to recover all their outstanding debts in regards to CSLs.
 
Are they really not handling CSL?  And if so, why is this guy claiming I have to pay my CSL by way of CBCL?
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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/March/2007 at 7:58am
He is referring to your Federal risk portion, which is not guaranteed by the government. Collectors sometimes say "Federal - or Canada student Loan" because they know that borrowers fear the governments more than the private lenders (banks, credit unions, etc). Collectors recognize this fear and use it to their advantage.
 
CBCL does not conduct any recovery or loan management service to the government of Canada any longer. Irt iwll be a few years ahead before they will have a contract with the Feds.
 
Johnny
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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IrritatedOne View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote IrritatedOne Quote  Post ReplyReply Direct Link To This Post Posted: 22/March/2007 at 9:29am
Do you know if CBCL is still handling Quebec Student loans? I had sent them $200 a month for the last 6 months via automatic bank bill payment. I've never received any receipt letter from them. I'm not working at the moment and that money would have come in very handy right now!
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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/March/2007 at 11:45am
Yes, CBCL still collects for the Quebec Government out of their Montreal branch up there on Jean Talon.
 
Johnny
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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IrritatedOne View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote IrritatedOne Quote  Post ReplyReply Direct Link To This Post Posted: 22/March/2007 at 4:27pm
Thanks Johnny.

Are there any options open to me now that I'm not working? In fact I have a huge credit card debt as well (partly due to the student loan - I had agreed to pay them $6000 by cash advance at one point when I didn't know my rights or options).

Do debt consolidation places handle student loans along with the rest?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Whatapain Quote  Post ReplyReply Direct Link To This Post Posted: 22/November/2007 at 11:08pm
Hey all,

I got this voicemail today from CBCL about an "important business matter". I figured from the name that it was a collections agency, after some surfing and finding this great site I have a lot more info. The sum of the loan, if its what i think it is, is a joke originally 400 or 500$. A "tools for trades" loan.  Other matters related to this I'm not sure of / have no experience with. I'm just trying to get as informed as possible before calling em back.

- This loan would be 7 years old
- They haven't tried to contact me themselves, just sent me straight to collection
- The collections agency called with no letter being sent first

My questions are:
1. Is it legal for them to send me to collections without first trying to collect them selves... seems very malicious to me
2. I rather not deal with this company, giving them any more info then they already have.  Can I choose to pay off the creditor directly if I'm paying the entire balance.
3. From what Ive seem so far the people are government sanctioned domestic terrorists who can pretty much break laws at will. are the no functional checked and balances to keep them in check and proportionally punish them? (not the 1000$ fine BS that most companies laugh off)

4. 4 is about credit ratting (I know this isent the focus of the site but any info/resources would be appreciated).  Does the fact that a collection agency called me automatically put my rating in the dumpster. Is there a way to force a companies (incuding goverment in that term) to remove a bad mark (ie. the malicious intent thing)

I'm almost as un-informed as some on can get about this stuff

If the loan is what I think it is, the collections info is probably not a big deal. If its something else or I get into trouble in the future (not that I plan on it) then the info could be interesting/pertinent.

Thanks in advance
Frank
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