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rorielly
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Joined: 18/October/2005
Location: Canada
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Topic: What is up with Scotiabank and multiple collection Posted: 11/April/2007 at 6:57pm |
In short, I owe Scotiabank for their portion of the CSL. It was with Contact Resource Services. right now they are only getting 50 dollars per month. I make a decent salary, however with the household bills it's pretty much impossible to pay CRS (Scotia), Metropolitan (CIBC) and Nordon (govnt) to any extent that would make a dent. I could pay just one perhaps, but then the others would hound me to death.
so anyways, paying CRS eveyr month, only 50/month. then out of the blue, creditors interchange receivable management corp. (CIRMC) is calling me about Scotia's portion. Then I get a letter from them. What gives? I call CRS, they know nothing about it. I call Scotia's student loan centre (boy they are useless). They didn't tell me a thing, except update my address. I have no idea who to pay. I also notice that CIRMC is not listed in my online banking payees. so if I have to pay them, I'll have to send them physical cheques (can they refuse my little payments?).
As if that wasn't enough, I'm getting a statement from Social Development Canada to pay 483/month for the govnt portion of the CSL. Don't know who to pay there...SDC or Nordon? Why can they just do these switcheroos, and not tell us?
I'm getting married in under 5 months, and I'm really worrying that something bad is going to happen to my paycheque before we can pay for the wedding. I'm really stressing out, and not sure how much more I can take. I don't know if I should file a proposal (would it even matter?) or what. I graduated in 99, but because I moved to Quebec, took 3 french courses part time to try and learn a little french, and also took a part time course at concordia that I dropped; I've reset the clock, which means the 10 years for bankruptcy won't be up until about January-February 2014...another 7 years...even then no guarantees it would be discharged. If the 7 year rule ever comes into effect, then 2011...4 more years.
By that time, I'll likely have kids, a car payment, and all the other household bills...there's no way these loans will ever be paid and I'm getting really depressed about it.
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littlewaist23
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Joined: 13/November/2007
Location: Canada
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Posted: 13/November/2007 at 5:58am |
Hi, I am getting calls now from creditors interchange receivable management corp about my student loan they asked me to have a co-signer for a loan to pay it off and mentioned to me about apllying for a mortage as well. How were you able to deal with this because they want close on 400 dollars a month and to send post dated checks to them which i really dont want to do.
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SolveStudentDebt
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Joined: 05/November/2003
Location: Canada
Points: 5996
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Posted: 13/November/2007 at 7:22am |
If you want help, let me know.
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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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shymisty
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Joined: 15/July/2008
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Posted: 15/July/2008 at 6:18am |
Scotiabank apparently changes collection agencies every 5 month well thats fine and all but where is my money going if I've been paying CBCL on behalf of BNS. If were going to start paying multiple collection agencies then where is our money going and where and when is this going to end. Something needs to be done about this cause I'm at a point where I'm not going to pay anything to anyone anymore and they can very well take me to court. How good is that going to look on them.
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JasonW
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Joined: 14/January/2009
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Posted: 14/January/2009 at 4:38am |
I am in a similar situation. I have been paying Creditor's Interchange monthly for over a year now (about $500 per month).
I just received a call from them stating that they are closing their doors and the account will be sent to another agency next month. The agent was very helpful but I'm confused - will I have to make new payment arrangements and will the new agency be as helpful (this has not been the case in the past)?
Please let me know if you have any suggestions.
Thanks!
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SolveStudentDebt
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Joined: 05/November/2003
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Posted: 14/January/2009 at 7:09am |
Your file will be shuffled to either NCO, NorDon, or Accounts Recovery Corp. Unless the bank decides to replace CI with a new agency outside of the above three.
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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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SolveStudentDebt
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Joined: 05/November/2003
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Posted: 12/February/2009 at 3:09am |
Info on new collectiona gency that has been assigned to collect scotiabank student loans.
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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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Coco
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Joined: 02/February/2006
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Posted: 12/February/2009 at 6:35am |
I have or should say have my federal portion of my loan with Creditors Interchange. Should they not send a letter of sorts out stating they are closing?? My payment is due and what happens if i make a payment? Will it be transfered to which ever collection company my loan is sent to now?? I don't want them to think that I am not making my payments either.
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SolveStudentDebt
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Posted: 12/February/2009 at 12:38pm |
Creditor's Interchange is not longer active. THey closed shop at the end of January. You are likely going to be shuffled out to Global, ARC, NCO, CBV, or NorDon.
If you want help, call us.
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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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Coco
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Posted: 13/February/2009 at 3:49am |
So in other words its a waiting game to see where it might end up. I just don't want them to think that I am not paying my loan, when I have been paying it. If I were to contact some on in the government regarding where my loan has ended up who would I contact?? Would I even get an answer?? Very frustrating, obviously for reasons beyond my control at the time is why my loan was put in collections to begin with, but now that I have been faithfully paying back the loan the company closes and somehow I bet the new collection agency I will be dealing with will make it out to be my fault and that I am the bad guy when I have been acting in good faith. I just hope that I will not have to go through the ringer again dealing with the abuse the collectors love to dish out. Terribly annoying
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SolveStudentDebt
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Posted: 13/February/2009 at 9:04am |
You would contact the party you owe.
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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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