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Joined: 05/November/2003
Location: Canada
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    Posted: 20/July/2010 at 1:05pm

Many people have older CIBC student loans that are assigned out to various collection agencies. A lot of these loans are statute barred and it is important that you know that. These collection agencies have been given a sweet deal by CIBC for recovery and it is half of whatever they collect. That's right. Agencies in charge of these loans are Accounts Recovery Corporation, Global Credit, Collectcom Credit, NorDon, and CBV collection Services. ARC and CBV have a very large share of these accounts. Collectors handling these files tend to be very slippery and aggressive in ways.

In certain provinces they aren't even allowed to contact you for payment. The important thing is to know your rights and benefits.
 
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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