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CIBC wants to hear from you

Printed From: CanadaStudentDebt.ca
Category: Dealing with the Banks!
Forum Name: CiBC and Edulinx Horror Stories
Forum Description: Problems with CIBC and Edulinx!
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=169
Printed Date: 29/March/2024 at 8:49am
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Topic: CIBC wants to hear from you
Posted By: administrator
Subject: CIBC wants to hear from you
Date Posted: 27/May/2003 at 6:12pm
CIBC responded that they need people's information to investigate complaints.

They have reiterated their commitment to customer care.

So if you had troubles with CIBC, email the particulars to

EDULINX Canada Corporation and state what needs to be done.

I think we all want the following.
1. Reimbursement of additional interest costs incurred
2. Restoration of interest relief/interest free status
3. Recall of loans from collection agencies
4. Removal of negative reporting on credit bureau files
5. Compensation for damages and reimbursement for legal fees etc

also, to resolve the ongoing problems we want
1. the document loss problem solved
2. more accountability by CIBC
3. a student loan resolution process in place so that our problems get dealt with quickly
4. a process to recall student loans from collections if an error was made.

I believe these are reasonable requests and only reflect the promises of CIBC's customer care centre.

Mark



Replies:
Posted By: MegaPo
Date Posted: 28/May/2003 at 6:10am

Good idea, Mark -- I'll be sending my summaries to Mr. Emerson today.

CIBC accountability?  Interesting observation...

One of my chief complaints is that they did nothing to contact me when my confirmation of enrolment forms were not on my file (back in '97, even though my grad date was a couple years away), or when my loans changed status, or even when they started taking money from my TD account!!  In fact, the only reason they phoned me was because my TD account was sucked dry, and they wanted more money.

In my October 2002 discussions with CIBC Executive Customer Relations, a mysterious "fact" popped up:  They claim that two letters were sent to me.  I didn't receive them, and this was the first time anyone has mentioned them.  Oh, and the bank can't find any copies of the letters to me.  But whatever.  They say that they always send pre-consolidation letters, so they must have sent at least one to me...  Right?

And through all of this, the stated position of CIBC was that they sent a couple letters, got no response, so they took the money.  Why not phone the client?  Their stated position is that they have no obligation to contact student loan clients about problems; it is each student's responsibility to phone in frequently to check for errors.

So get this...  My girlfriend forgot to file her confirmation of enrolment forms with CIBC back in September 2002.  How did the bank handle that?  They wrote to her and phoned her at home to see if she was still a student.  She is, so they reminded her to get the forms in quickly, because the loans would change status in a couple months.  "Thanks, and have a nice day!"

Maybe the CIBC National Student Centre learned a lesson from their past mistakes (and past damage to people's lives).  Maybe they are now doing their job a little bit better: preventing problems.

But will the CIBC go so far as to say that they should have contacted students in this situation in the past?  No friggin' way...

--Sean



Posted By: Guests
Date Posted: 02/June/2003 at 7:26pm
Reach out to CIBC for help and guidance.....I don't think so! CIBC did nothing to contact me until right before my loans were about to be sent to collections. When I asked how I could apply for interest relief, the person at CIBC student loan centre told me I had to pay off outstanding interest first. I asked for some paper documentation, as I hadn't received any. A few days later I received a blank piece of paper, with simply amount of loans on it. I called back to ask for something a little more detailed, and to try to pay outstanding interest. The "service" agent told me not to bother as my loan had already been sent to collections, since CIBC would rather deal with gov't guarantees than demanding ex-students. She also said that even if I paid the outstanding interest that CIBC would probally just keep my cash and it was highly improbable that they would recall my loan from collections (too much work for them). Thus no interest relief and the hell of collection agencies! And CIBC wants us to trust them and come forward with our stories and give them easy access to us......after they force us to go into hiding from them and the collection agencies. How stupid do they think we are? They only want their $$$$ and never cared about destroying our lives.....nice P.R. exercise on their behalf, but I'm not buying it for a second.
Frantic with fear


Posted By: polyhymnia61
Date Posted: 03/June/2003 at 4:39am
I trust them as much as you, but I would and did write them. One reason: I have a name to address the letter to. Actually, two -- the Equilinx guy and the CIBC Consultant.

No "Bob" or "Pam" or some other minimum-wage telemarketer. No "John Smith." And if they screw up now, I can go public with names of people to blame.

I sent a letter and 12 pages of supporting documentation (every letter I ever wrote those jackasses and their collection agencies) -- in 6 point font. Registered Mail.

Still waiting for a response, but I at least I feel somewhat in control of the situation.

There is power in numbers. The more who complain, the better it is -- for everybody.

They may ignore one or two -- but hundreds? (I know you're out there, guys!!)

Try it. It feels good at the very least.

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Home is where you are allowed to prosper.


Posted By: Guests
Date Posted: 18/June/2003 at 4:27pm

I just sent him a long email.  What can it hurt?



Posted By: Guests
Date Posted: 19/June/2003 at 10:52am

If students (as adults) take responsibilities for their actions (neglecting student loans) then they would not be in the mess they are in today!!!

 



Posted By: polyhymnia61
Date Posted: 19/June/2003 at 11:48am
Somebody didn't take their Geritol today.

Have you actually read the links? Then you would realize that if the CIBC also took responsibility for their actions, I would not be in the mess I am in today.

I suspect, however, that you are just someone with no life looking for a fight and have absolutely no interest in this issue. Find another hobby and leave decent, hard-working and responsible people alone.



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Home is where you are allowed to prosper.


Posted By: Mark_W
Date Posted: 19/June/2003 at 4:13pm

I sent an email last night around 8:30 or so and I got a phone call from a person this morning thanking me for my email and that my situation is under investigation. Furthermore, she told me that she will be in contact with me within 48 hours.  I have to say, I'm suprised to hear from anyone at all even read the email, let alone called me back about it.  Send them an email folks and see what happens. 



-------------
life get's in the way of good intentions


Posted By: Guests
Date Posted: 19/June/2003 at 5:52pm
yes send the emails


Posted By: polyhymnia61
Date Posted: 20/June/2003 at 3:41am
Let me know whether she gets back to you within 48 hours. My letter from her acknowledging receipt of my package was postmarked May 20th and I've heard nothing since then.

Has anyone heard anything beyond, "Thanks for the letter. We'll get back to you?"



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Home is where you are allowed to prosper.


Posted By: MegaPo
Date Posted: 20/June/2003 at 11:46am

Count me in!

I finally got around to sending a summary of my complaint to Edulinx.  It is seven pages long, but after 5 years of battle, that length seems appropriate.  In fact, I think it is organized well, and the points are made clearly.

Additionally, I sent a copy to my new case manager at the Office of the CIBC Ombudsman.  I didn't address it to them; rather, I wrote a cover letter and attached the To-Douglas-Emerson message.

When I spoke with my CIBC ombudservice case manager, she seemed surprised (even disbelieving) that the CIBC National Student Centre could have misplaced my Confirmation of Enrolment forms.  So...  In my cover letter, I mentioned the loss of my forms, plus I said, "It is not unusual for these forms to be lost when in the care of the National Student Centre.  A visit to <canadastudentdebt.ca> or <totallyfanatic.com> will show you dozens of cases where forms have been lost or mis-applied."

I hope the people at Edulinx can help, because I don't expect anything from CIBC other than a steaming brown log. 

--Sean



Posted By: polyhymnia61
Date Posted: 23/June/2003 at 3:52am
Being that Edulinx is partly owned by the CIBC, I expect two steaming brown logs.

Sorry, feeling a tad cynical today. It's been over a month now. Of course, if everyone did what you and I did (i.e., write the sequel to War & Peace), I should expect it to take a while for Naudia et. al. to sift through the muck -- and hopefully see a pattern developing.

Good luck, Sean...

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Home is where you are allowed to prosper.


Posted By: Guests
Date Posted: 23/June/2003 at 5:39pm

Maybe a bit critical , give them a chance to sort out each problem.Ihave had problems with them but it got resolved!



Posted By: polyhymnia61
Date Posted: 24/June/2003 at 3:35am
Details?

Enquiring minds want to know!!!

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Home is where you are allowed to prosper.


Posted By: Guests
Date Posted: 26/June/2003 at 8:48am

hey it's Mark_W

48 hours have officially turned into a week :(

I should have known better



Posted By: polyhymnia61
Date Posted: 26/June/2003 at 9:13am
I'm trying to be patient. I think my problems were more systemic rather than one oversight (like our friend whose husband was in Kosovo). My story was more complicated (hence the reams of paperwork I sent her) and if she is going to do her job right, she has to be able to implement changes to the system, rather than a bandaid solution.

And, since I am under consumer proposal protection, I'm not desperate for immediate solutions, i.e., the credit bureaus aren't harassing me or taking me to court. I just want a clean slate at the end of my proposal term: interest relief that I was never able to claim, and a positive record on my credit bureau. And other things too, but mainly I want to put things where they were before they started losing the paperwork.

At least, that is what I want today. Tomorrow, I may want all my loans forgiven, her first-born child and somebody's head on a stick...Ah, hormones...


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Home is where you are allowed to prosper.


Posted By: markomeara
Date Posted: 26/June/2003 at 2:33pm
To Mark W

email Mr Emerson and complain. I've emailed him about similar concerns...

Let them know they cant meet their commitments.


Posted By: Guests
Date Posted: 27/June/2003 at 6:29am

I contacted emmerson and received reply wanting information.....I gave it to them and someone contacted me and said they would contact me back....over one month has passed and several emails on my behalf and guess what..........Nothing has happened!!

 

 



Posted By: MegaPo
Date Posted: 27/June/2003 at 8:56am

Quote: Originally posted by Couch-dweller on June 26 2003


I'm trying to be patient. I think my problems were more systemic rather than one oversight... and if she is going to do her job right, she has to be able to implement changes to the system, rather than a bandaid solution.

You have hit the nail on the head, Couch-dweller.  The problems at CIBC are truly systemic and long-standing, and not simply the result of one bad employee.  In my long history of dealing with them, I have many times heard the death-knell of my complaint: "Sorry, Mr. Drake, but after reviewing your file, we have determined that the National Student Centre had followed the bank's policies."

Even the CIBC Ombudsman's office operates under this principle.  I was told that my claim would be successful only if I could prove beyond doubt that the National Student Centre activity was inconsistent with established bank practice.  Well, I can't.  The CIBC-NSC did follow the bank's policies, which are not consistent with the Canada Student Loans Act.    (Hmmm...  I wonder what would have happened if they had followed the law, but didn't follow bank policy!!  That's a head-scratcher, ain't it?)

Couch-dweller also wisely said:

...I just want a clean slate at the end of my proposal term: interest relief that I was never able to claim, and a positive record on my credit bureau. And other things too, but mainly I want to put things where they were before they started losing the paperwork.

You are being exceptionally fair and mature about this.  It seems that you are trying to develop a solution that helps your future, while not focusing on the past.  The bank can't fix all of their mistakes unless they have a time machine!  But people like you and I are pleading with the bank to do something useful to make our futures run more smoothly.

Sadly, it appears impossible to find a CIBC employee who is willing to be an agent of positive change in that workplace.  The people who handle complaints always operate under the CIBC slogan:  "Smart, Simple Solutions."  In our cases, this translates to "Delay, Defer, & Deny."

--Sean



Posted By: Guests
Date Posted: 14/August/2003 at 4:40pm
Wow.
It is nice to hear that I am not the only one having serious student loan problems. (OK, Not Nice, but comforting) I am just in the early stages of this problem. I have had a federal and national student loan for the past 5 years. I am in the last year of my last (second) degree and my loan apparently went into repayment. Thank-you CIBC. You lost my forms. Again... and didn't let me know... again... I cannot get a student loan, and therefore might not be able to finish my degree. I have brought my 22a or whatever to 3 seperate banks, and my confirmation of enrollment to CIBC, and I've taken it in the ass from the government. I have been called by irrate call center employees. I have spoke with hundreds, (and recently learned that they are encouraged not to use their real names)and I have been told that I am no longer eligible for a student loan due to another one defaulting. My loan is supposed to be recalled. SUPPOSED. The National Student Loan Center employees seemed surprised that this could've happened and acted like it was the first time it ever has. I believed them until now. Does anyone know what to do? Does anyone know some successful tactics for eliminating erraneous paperwork?


Posted By: MegaPo
Date Posted: 20/August/2003 at 9:37am
Edulinx who??

I have read a couple stories with happy endings here at Canada Student Debt. Horray!! At least one of the success stories included some contact with Edulinx.

Me? I have written to Emerson at Edulinx FOUR TIMES since June. No reply. Not even a confirmation that they received my letters, faxes, E-mails...

What's going on??
--Sean


Posted By: Mark_W
Date Posted: 25/August/2003 at 12:18pm
Hi again folks:

It's been a while since I've updated you folks on my fun times with CIBC.
A couple a great people at edulinx have been helping me out, although it's been a very rockie road so far. One of things they required me to get was an "application refusal" so that the governmetn could move forward with the investigation. Well it only took 5 weeks to get a simple fax from the CIBC monkeys. Furthermore, when I finally got the fax it was for the wrong date. Well, that was the last straw and I could no longer deal with them. Luckily, one of these wonderful people called on my behalf and got things set straight for me. It's now week 6 and should finally recieve the letter this week.
That's all for now...I hope you all are fairing better then I am....M


Posted By: Guests
Date Posted: 10/September/2003 at 8:35am
Just got another call from the 'between' person you know the one's between CIBC Student loan Centre and the real collection agents. I am tired, I am sick and I am fed up. I am writing them once again, they lack all humanity! When I sent them my doctor's note's explaining my long term disability, proof of income or lack there of and info on how serious my situation is, they didn't even reply, they just sent back everything I sent them with a half piece of paper attached to it saying that I will not receive interest relief now I have their oh so kind and understanding people calling me with threats send money now! Hmmmm let's see should I eat and pay for electricity this month or pay my student loan! I mean I have been paying them for 3 years and have been up front about my situation they lack any respect or empathy... I am writing today! EDULINX states that when determining if someone is eligible for interest relief and I quote"special circumstances, such as emergency health expenses or other emergency financial situations, will be taken into account." I guess they lied.


Posted By: Guests
Date Posted: 11/September/2003 at 5:12am
Everyone lies to you including HRDC.
They asked me for my income statements and the expenses that I have to pay, and for proof I photocopied all the information.
Then they sent me a letter, questioning why I have a cell phone as this is classified as a luxury. I told them that the regular phone was when the phone was diconnected. Then they questioned as to why I have Cable which is $ 45.00, this is another luxury that they classify. I told them that having cable is the only form of entertainment that I have.
I felt like contacting them and asking why they never questioned me having utilities, and shelter, and food. Maybe to them these are luxury items too.

It seems as long as one has student loans, you have to curl up and die, or keep living with nothing.
Has anyone else ever been questioned such as I have.


Posted By: Guests
Date Posted: 22/September/2003 at 10:48am
I also have problems with my Student Loans.

I was given incorrect information back in 1999 by the CIBC Student Loan Center and now HRDC expects me to pay for the mistakes that were made. Back in 1999 I had to declare bankruptcy due to problems caused by my ex-husband. The Student Loan Center told me that part of my loan was forgiveable and part was my responsibility. I immediately made arrangements for the part I was supposed to pay on and have adhered to these payments ever since.

In July 2003 I received a letter from HRDC telling me my Federal Loan was in default. You can imagine my astonishment when I investigated and discovered that the forgiveable part was not foregiveable but guaranteed and I was responsible for it. They have now added 4 years of interest on and they expect me to pay for it.

Why can the banks and HRDC continue to make these types of errors and demand that the students pay for them? Is it not time for the CIBC to take responsibilities for their incompetent employees? If I worked in a store and sold an article for less than what it was priced for I would be fired and the customer would have gotten a deal due to the negiligence and incompetence of the employee. The store would have taken the loss. Is it not time that the banks had to pay in such a way? Maybe then they would be more careful.

I am glad I have a place where I can vent my frustrations because noone is listening to me, not even my own MP.


Posted By: Guests
Date Posted: 22/October/2003 at 5:58pm
Well I just sent my email...fingers crossed.

Something has got to give!


Posted By: Guests
Date Posted: 29/October/2003 at 3:58pm

    Hi, This is the first time I am writing. I just found this site because I have been having problems with CIBC and my student loan.  When I seperated from my husband I had no skills so I put myself through school, and as a single mom that wasn't easy, then under my lawyers advise I filed for bankruptcy, and during the 9 month processing period the rule is that no bill collector is allowed to call or send bills.
  
Well after the 9 month period CIBC "collections" came after me saying that i've been delinquint for 9 months and I now have to pay a collection agency my loan at a crazy interest rate and on top of that 9 months of extra interest! On top of all that I have a black mark on my credit for the bankruptcy then right after that the collection mark!!!
    Has anyone ever got any of there stuff straightened out,  Any advise out there?   Thanks



Posted By: 2Laural
Date Posted: 29/October/2003 at 5:37pm
Unfortunately, you should have been told that the interest would continue to accrue while you were in bankruptcy.

Technically, the collection of the student loan debt should not start until after the Trustee is discharged, not your discharge. The reasoning for this is that if the SL were to get a dividend from your bankruptcy, then they have to reduce the amount that they are collecting by the amount of the dividend. What I would recommend is to write them a letter and tell them what your situation is like - what your monthly income is, and what your expenses are. Then see what you can REASONABLY afford as a monthly payment. In the letter make a commitment to paying $x/month every month, and stick to the arrangement. I recommend sending in money orders each month instead of post-dated cheques since they can cash a post-dated cheque at any time.

Hope this helps.

L


Posted By: Guests
Date Posted: 04/November/2003 at 7:33am

 

 2Laurel says, " I recommend sending in money orders each month instead of post-dated cheques since they can cash a post-dated cheque at any time."

The agencies or student loan bodies cannot cash post dated checks at any time - other than the date specified on the check. Sometimes these groups "accidentally" send them in on deposit and the banks do not pick up on it. This is a "bank error". If this happens, the bank MUST fix it. 

2Laurel is right about sending in money orders. It is also a good way to prevent the agencies from having your account information. Once they know where you bank, your account number, and account status, they have more information .. and potentially manipulate you in some form. 

Johnny

 



Posted By: polyhymnia61
Date Posted: 04/November/2003 at 8:11am
Oh, yeah...The bank can only honour a cheque on
the date it is written until six months after.

If it goes through prior to the date...high-tail it to your
home branch and make sure it's credited back to
your account -- as well as any NSF charges and
overdraft services charges and interest...

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Home is where you are allowed to prosper.


Posted By: 2Laural
Date Posted: 04/November/2003 at 10:19am
I have dealt with many institutions on a professional level with respect to post-dated cheques, and every bank that I have dealt with has a policy that unless the cheque is for more than $100,000, the bank will not be held responsible for the cashing of the cheque. The bank may eventually admit that there are forms you can complete, and of course pay service charges to have the item returned. All very time consuming.

Good luck on getting the bank to reverse the service charges too. I've talked with the banks until blue in the face. Maybe there are better banks/credit unions to deal with, if so, please let us know.

We all know how frequently "accidents" happen with collection agents, so why take the chance by sending in a PD cheque?


Posted By: polyhymnia61
Date Posted: 04/November/2003 at 10:59am
Well, times have changed, haven't they? Because
when I worked at the CIBC, we did all that...Of course
that was before the system became
centralized...That's when we used to check cheques
by hand for dates...Yikes, dating myself, aren't I?
LOL!

Actually, I demanded -- and GOT -- exactly that from
the CIBC when they pushed through 3 payments I
did not authorize. They were (supposedly)
processing my interest relief forms AND trying to
sneak through payments. The woman at CIBC
Vancouver was awesome. She reversed everything,
no questions asked. "Oh! Student Loans? No
problem!"

I never had problems with post-dated cheques
actually, but you're right...you can never be too
careful. Get a bank account like the one at
Scotiabank where you pay $11.50 a month a get
unlimited cheques and MOs...It will save you a
bundle, especially if you're only buying $20 MOs...

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Home is where you are allowed to prosper.


Posted By: Ferren
Date Posted: 04/November/2003 at 4:10pm
Under CPA Rules, a post-dated cheque is not eligible for clearing and therefore should not be deposited before the due date. However, given the large volume of cheques and the degree of automated processing, some post-dated items may inadvertently slip through.

Under Rule A4, Section 6(b), a payment item may be returned through the clearing by a CPA member financial institution for the reason "post-dated" up to and including the day prior to the due date. Once the due date is reached, the payment item cannot be returned for the reason "post-dated".

A customer with concerns about a post-dated cheque being processed to his or her account should raise them with his or her financial institution. If the institution is notified within the timeframe described above, the cheque can be returned through the clearing. Questions about overdrafts as a result of the early processing of post-dated items should also be addressed to the financial institution.



Posted By: Ferren
Date Posted: 04/November/2003 at 4:16pm
If you WERE going to use a post dated cheque, I would circle the date with a red pen to draw attention to the fact. If the bank let it slip through purposely, the clearing center would likely catch it and return it.


Posted By: Trixie B
Date Posted: 05/November/2003 at 6:29pm
I deal with Van City Credit Union in Vancouver and had a situation where my landlord put through two rent cheques, one post-dated and it slipped, Van City corrected the problem and credited the NSF and overdraft charges.


Posted By: hunter
Date Posted: 12/November/2003 at 3:34am
Personally, I will not do the post-dated cheques. Why give the banks or the creditors more information than you really have to. Collection agencies will just threaten you with guarnisheeing your bank account if they have this information.

It's just a thought.



Posted By: been_there
Date Posted: 17/February/2004 at 11:58pm

 

Well here's a dozzy for you all...........

My friend that used to work at the equifax (up until about 3 months ago), told me that one of her co-workers was very abusive towards the other staff and I asked why won't they get rid of her?

Well.........aparantly these people have contacts (family or friends) at banks who will disclose confidential information about the person they are going after.

Thats gotta be illegal right?

 



Posted By: slyverz
Date Posted: 25/February/2004 at 11:46pm

Originally posted by MegaPo MegaPo wrote:

when they started taking money from my TD account!!

Question(s):  Can CIBC, or any other financial institution for that matter, legally remove funds/payments from another institution other than their own?  Without a person's express permission?

 BTW, Hello all.  New here.  Stumbled upon this forum and site while researching what the hell to do about my current nightmare w/the CSL thing.  And imagine my surprise when I first got to the site and noticed that 56% of respondants to a poll said that CIBC was the absolute worst to deal with regarding this matter.



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Stop the world, I'm getting off!


Posted By: slyverz
Date Posted: 25/February/2004 at 11:57pm

Originally posted by Hunter Hunter wrote:

***huge snip*** Has anyone else ever been questioned such as I have.

Just today, when the collection agent asked why my phone bill is approx. $100/month, I said, "Because that's how much my services cost."  She replied, "The internet?" in a "you don't need the internet, no one needs the internet" tone of voice, and I said, "Yes, I need it for work."  Unbelievable that people who used the damned internet every single day think that only they need it.



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Stop the world, I'm getting off!


Posted By: hunter
Date Posted: 26/February/2004 at 12:06pm
The funniest thing that happened to me was one collector asked me why I pay such a monthly high rent, and I replied because I do not want to live in a rough part of a neighborhood where I have to sleep with one eye open.

To which she replied if I lived in the slum area, I could contribute the extra money to my student loan debt.

And I responded, sure, I would do this in a minute, if she would become my room mate.

Sadly she declined my offer, I still wonder why to this day.   

And then she has the nerve to tell me that I am not trying to pay the debt.

At least I tried.


Posted By: slyverz
Date Posted: 26/February/2004 at 2:55pm
Well, I dealt with yet another NCO CA today, and I've come away with several impressions regarding the handling of my CSL with CIBC.

1.  I am under the impression that for ever case file they get, they have an intimidating nasty type person call first with the usual speels:
    i: borrow money from the 'rents, or my personal favourite, "get a loan from another lender to pay this one"... To which I either think, or if the CA is particularily rude to me i say out loud, "If I had the finances and the credit in order to get a loan from someone else, you and I would never have known the other existed because my loan would not be in default or may even be paid off completely."
    ii: we'll take everything you own
    iii: we'll take a percentage of your wages
    iv: we know where you live
    v: etcetera (we all know, been there, done that)

2.  If you know anything about your rights as not only a consumer, but a human being in this country, you know how the nasty type CA may and may not talk with you and you are subsequently not intimidated one iota, then the person who is actually dealing with your case file calls you.  I've found that these people, once a person actually gets to them, is completely and totally reasonable once you make it abundantly clear that yes, you'd like to be able to pay the entire thing off, interest and all and move on with your life, but you simply cannot, and yes you know that the measly payments you can afford are barely covering interest if at all, however, it's simply the best one can do atm.

3.  CIBC is very good at staying out of all of the negotiating, etcetera.  It's like they either have no clue what's going on at all, or they pretend that they don't so as to not get their hands dirty so to speak.  They can then place all the blame on every other agency affiliated with them for these matters, and take none themselves.  Smart business practice, really, tho not necessarily very ethical at all.

4.  Other than this loan, CIBC has been very good to me.  They preapprove me for hoards of things, like overdrafts, etcetera.  I never have to worry about my pay cheques being held, even from new employers.  I even was told yesterday that I had been pre-approved to recieve a Visa with a limit up to $1000 if I was making at least $1250 clear each month.  I'm always shocked by this, considering before they pre-approve this stuff, they pull your credit rating.  Apparently as long as it's not got the absolute worst rating possible, they'll take a chance on their long term customers.  Of course, these things vary from branch to branch.  I live in a small town, the tellers as me how my mom is doing.

5.  I read a statistic in passing recently in a magazine (I keep most of them, so if I can find it, I'll post it in it's entirety, or if anyone else can verify) that CIBC was the bank that got the most CSL customers statistically (I think it said 45% or there abouts, it was high) for the year that I attended school (95/96).  If that is the case and the statistic is fairly accurate, I can understand their toughness with everything.

6.  CIBC and the rest of the banks, not to mention the collection agencies and HRDC are bogged down with so many rules, regulations and laws governing CSL's alone, that I'm not surprised that we see a great amount of blundering and harmful mistakes.  Unfortunately, we are on the end of it.

All in all, I'll continue dealing with CIBC as far as my regular banking goes.  I'm happy with everything but this CSL business with them, and the only reason I'm in the mess I'm in now with my CSL is because the NSLC "lost" umpteen documents or "didn't receive anything" by the deadlines they gave me.  I almost want to get myself a small island in the middle of international water and form my own country.  Most of us in the situations we're in are educated people, we know the system sometimes better than the people that are supposed to know the system.

*end rant*


-------------
Stop the world, I'm getting off!


Posted By: slyverz
Date Posted: 26/February/2004 at 3:09pm
Wee addition to lil' rant.  I won't be boycotting CIBC.  As far as I'm concerned, with having to deal with several different banks and credit unions here for various reasons from personal stuff to work stuff, they are by far and away the lesser of the lot of proverbial evils to deal with.

Our local credit unions are into helping you if they see something in it for them, the big banks have so many rules and regulations and they are not willing at all to bend a bit, as they know they can on occasion.  Our local CIBC will do everything they can to help you get your current situation, whether good or bad, on track with what it is you wish to do financially.  They offer good advice, are willing to listen to the facts of any given situation to help.  At times, of course, they simply can't do what a person asks, but they try. 

Possibly it's because it's BC, and it's a small community that was hit hard by all the problems with the forest industry.  I don't know the reasoning.  However, I do know that it's highly likely that if this was a big city, where a person walking through the door is nothing but an account number, things would be much different.  If I were living in a different community with this same CSL problem that I'm dealing with now, I probably would join the boycott on CIBC.  I know of many people who've had problems with them with everything, myself included, while dealing with them in larger centres.


-------------
Stop the world, I'm getting off!


Posted By: SocialismNow
Date Posted: 10/May/2004 at 1:55pm

After sending an email to the head of Edulinx, I got a call back from CIBC telling me they were going to look at my file. I've been trying to go to school since January. I think that the McCarthyites and KGB of the 1950's didn't have such extensive files on people. They told me to appeal my application for a student loan. Ya, right!. That's all I need is to haggle some more and be berated by some person who they don't pay enough to even make the minimum payment on my student loan. Er ... no, that'd be the student loan feds who turn it around on me and ask if I might be able to mortgage my mothers home to pay off the loan. ha ha Lucky thing for ma that the house mortgage doesn't belong to the VA anymore or they might consider it.

I feel as if my chances of becoming a software engineer are nil next to none. Welfare would be a step up from this low wage philanthropy I depend on for a subsistence existence. I'm two years away from a degree, but it might as well be an eternity because I'll never save enough to access this elitist, nouveau "Ivy league" education system.

With a grade eight education, my WWII veteran father and uncles had more money and worldly posessions at this same point in their lives.    Is it too much to ask for a chance to prove ones self ?.



-------------
The federal NDP will offer affordable education. University is free in the social democracies of Europe, and their national debts aren't as large as ours or the U.S.A's.


Posted By: anuk
Date Posted: 25/May/2004 at 6:25pm

I'm sorry to have to say this, but you stated that CIBC is committed to it's customers! But what about their employees? They hired me with no sales, and banking experience, and then fired me because I didn't understand everything after three months!

If they don't help their employees what makes you think that they will help customers??????

T



Posted By: MegaPo
Date Posted: 26/May/2004 at 5:12am

From my experience (as a customer, not employee), I believe CIBC is committed to shareholders, first, last and always.

To some degree, they are committed to their customers.

To a much lesser degree, they are somewhat committeed to their employees.

It's not that the CIBC managers are unwilling to do something helpful for customers or employees, but they only do so when it is also good for the shareholders.  Case in point:  student loan customers.  CIBC can generate a few extra bucks for the shareholders when loan records contain errors, because they are allowed to take money from students (without specific permission), AND they can take more money from government guarantees on student loans.

Sure, they could avoid problems with student customers by placing a phone call (or sending a letter) during the many months before they are legally allowed to take money from students and governments...  but why would they do that??  The shareholders get a few extra bucks when students' lives are destroyed by these common errors in their loan management.

But hey, to make an omelette, you gotta break a few eggs, right?

--Sean



Posted By: anuk
Date Posted: 26/May/2004 at 6:13am

Sean I agree with you absolutely about their shareholders. Funny tho, if they were smart they would realize that it costs more to rehire employees than it does to keep them. When I worked for CIBC they had 12 people in the same position in a 3 year period. (It costs other major banks about $30,000 to hire for that position) That is a loss of about $360,000. Tell that to the shareholders!!

T.



Posted By: kevmetric
Date Posted: 26/May/2004 at 10:05pm
You wrote:

"fired me because I didn't understand everything after three months! "

You must think you're the only person in Canada
who had to go through a 3 month probation!

That's why the CIBC only hires 5% or less of the
Accounting and Finance graduates from universities
every year. They don't want to waste time recruiting
people who will fail, not learn, not meet quality
and professionalism benchmarks, people who will quit
from personal problems or health issues, or get bored
with the job.


Posted By: anuk
Date Posted: 27/May/2004 at 4:12pm

 

You wrote

"That's why the CIBC only hires 5% or less of the
Accounting and Finance graduates from universities
every year. They don't want to waste time recruiting
people "

Right! and your point is???? That hiring and firing people like this is normal and good for business??? Did they tell me before that they hired me, what their expectations were? Did even know enough to ask? How come they hired 12 people, for that position, before me and all of them quit or were fired? Is it intelligent to keep doing that?? Umm no, cause it costs them more money to hire again. How do you think it affects the public opinion of that bank? I'll tell you that my friends and family won't deal with them now, and that was just me. How many other people have they pissed off before me? Furthermore, if they had such high standards why weren't these standards communicated to me BEFORE I was hired.  I had asked what it was like to work for them, and the B.Manager, told me that staff are given goals, rewarded for initiative, and supported in the learning process.

Did they help me succeed? Would they let me come and ask questions? Did they even, help my learning process, by allowing me to work extra hours on my learning?

Nope!! Never!

Now I am working for another major bank and they have put me on a training program that lasts from 6-9 months. They have literally tripled my salary and treat their staff with so much respect! I have passed my probation, and have just received a raise!

I love it!

 

 



Posted By: kevmetric
Date Posted: 27/May/2004 at 9:34pm
anuk-

They will be nice up until and including when
they hand you the resignation or termination letter.

You see, it's not about respect, or niceness.

It's a business policy to get the best results.
If your results are great as an employee,
the niceness is merited.

If the performance of a given worker fails
to meet top profitability objectives for the
organization, out you go ...even while they
smile at you, and shake your hand, and are
generally nice.

It's not personal ...it's business.

Including the niceness.

Don't think they're being nice because they
like you.

They're nice, because they hope and expect
and are adamant of you delivering the goods
that they feel unthinkable that you could not
be the model employee they expect.

Don't let them down.


Posted By: anuk
Date Posted: 28/May/2004 at 6:14am

The most successful companies always stand behind their employees, whether it is training more feedback etc. If you don't believe me read about Henry Ford, Andrew Carnegie, and Sam Walton of Wal-mart. All of these companies, think of their employees, in terms of long term.

Every other bank in Canada, trains their employees up to 6-9 months. I was told I wasn't under any training after 2. Cibc, is in fourth out of five possible places, in customer service surveys. Maybe there is some kind of connection??? Hmmm who knows??

 

T



Posted By: anuk
Date Posted: 28/May/2004 at 9:36am

 

Furthermore, even some of the best sales people are not always the brightest, or catch on the quickest. Incidentally catching on slower isn't a sign of lack of intelligence, but is rather a sign of different learning patterns. (See Anthony Robbins, Unlimited Power Chapter V The Seven Lies of Success, and Chapter VI Mastering your Mind: How to Run your Brain)

Also I have made a habit, of studying everyone I could see that was or is enormously successful. One of the paramount beliefs that these people always had was the respect for the individual. They see the employee as a #1 asset, hence Sam Walton’s "Our People Make the Difference". Undoubtedly this belief has contributed to them becoming the #1 and largest retailer in the world. (Mind you I know lots of people who are or have worked for Wal-Mart and hate it) 

If CIBC's desire is to have the best and the brightest, why don't they administer IQ tests, ask about grades, learning patterns, or the ability to adapt to pressure etc. This would have eliminated the need to hire unsuitable employees, cut back unnecessary expenditures, possibly damaging their reputation within the community, and even perhaps damaging morale with remaining employees.

Anyways that is just my scoop. I don't really want to talk about it more.



Posted By: joejoe
Date Posted: 20/August/2004 at 6:22pm
   FYI: EDULINX, CIBC NSC AND ALBERTA LOANS ARETHE SAME COMPANY


Posted By: stealthc
Date Posted: 13/June/2005 at 1:46am

I followed the instructions here and the best that I could ever hope for is to have my loan recalled after paying the amount in arrears for interest.

Aside from that they had no desire to fix their mistakes.

They know how badly they have handled documentation but still call into question the fact that the likelyness of their having lost my documentation a 99:1 ratio.  I say this because I've read what their error rate is like.

They wanted me to prove that I had sent the documentation.  Ok well my sister saw me send it and their own internal documentation states that I spoke with them saying that I sent it.  I even sent a money order which was lost by them and as someone who has spent some time homeless I'm afraid that it's been impossible to keep my documentation.  So I have to get more documentation, by requesting it.

I can't prove that canada post didn't lose my mail but 3 out of 3 times in a row sounds more like their record for lost things, not canada posts who has a great record for mail delivery.  They are trying to claim that without having sent my mail via registered mail that there is absolutely no way that they are responsible for having lost my mail; yet the fact that I sent things 3 FU**ing times and their lousy track record should be enough to prove that they were responsible.

I am going to chat with my PM regarding this and other issues because I want something done about this.  I want federal intervention with regards to Edulinx's irresponsible mismanagement of student loans and I feel that there probably are more people out there that cannot entirely prove Edulinx's guilt than there are that can.  I feel that Edulinx has a responsibility to ERR on the side of it's victims because there are just too many of them.



Posted By: fsj1969
Date Posted: 23/June/2005 at 2:38pm

I just found this site.

In 1998, I received a 6 month interest relief period on the federal and provincial student loans.

However, the fed portion schange dits mind and mailed my notification to my old address.  They had my new address (I was very careful of this fact when I moved - further, the new address is where I applied from).

In any event, I commenced making my payments (nearly finaished now - never missed one).

However, I started getting collection letters and telephone calls at home.

I must have spoken to at least 6 different people at the CIBC, 10 at the collectiosn agency (who still to this day breaks every section of the collections legislation) and the feds.

Teh feds told me I have to deal with their collections company.

I have repeatedly requested the documents but no one can find them.

The worst part is, I have almost paid the debt in full.  That is, I received interest relief but their system says I defaulted even though I have paid off the full amount nearly.  There was no default but no one will listen or give a darn enough to investigate this.

It ruined my credit rating for the longest  time. 

CIBC will not and would not listen.  The collection agency just keeps changing their little minions.

I was just recently told they are going to sue me.  I welcome this because I want to counterclaim for damages, emotional distress and anything else I can think of.

Further, they will be unable to provide any documentation to prove anything - at least they have not yet.  My bank records plus the amount of the debt prove I have been making regular payments.

It simply galls me.  The complete arrogant presumption with which I have been treated is horrible.

I am thinking of suing them in any event because the notation is still against my credit rating.

 



Posted By: Remington
Date Posted: 11/August/2005 at 10:57am
After reading all of these stories, I realise my problems are not
so unique. I am dealing with a collection agency because
CIBC will not acknowledge my interest relief even though I
have been approved by both BC student loans and for my
Federal student loan. They call me at 7 in the morning
repeatedly, sometimes earlier. They also harrassed me even
when I had just made a payment (the agreed amount) and
when they had post-dated cheques in their possesion that had
not even been cashed yet. They wanted more cheques. Here
is a problem I have not encountered on this site...Has anyone
recieved calls from someone claiming to be from CIBC and
then when you call them back they say that they never called
you?
This has happened to me twice. I believe it is a person from the
collection agency pretending to be from the bank. I have no
idea why they would do this, it is idiotic and counter productive.
I demanded to know from CIBC who from their office had called
me and what it was concerning and they at first claimed that no
one had called and to talk to the collection agency. I refused
because the message I recieved said to talk to CIBC and left
their phone number. CIBC then said that they would look into
it, and would call me back....they never did (twice). I demanded
to know why the person calling me would not leave a name or
extension # and she replied that they have no extension
numbers and do not leave names. WHAT???? I am about to
rip my hair out! Every person I talk to is useless at CIBC. They
lie, they break laws, they ruin lives, who's going to stop them? I
should have borrowed from the Mafia, not the bank.


Posted By: SolveStudentDebt
Date Posted: 11/August/2005 at 3:35pm

This is common behavior within the third-party collection industry.

They do whatever works. And if doing whatever works is aginst the rules, continue doing whatever works and don't get caught. This is their code.

Johnny

http://www.cfwgroup.ca/forum - www.cfwgroup.ca/forum



-------------
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com


Posted By: Remington
Date Posted: 12/August/2005 at 9:30am
Thanks for your reply Johnny. I am glad you are out there. I
have sought help from legal aid, and they have provided me
with some very useful information and links that I hope others
can use as well. Here they are, though please be aware this
info may only pertain to BC laws....
-you can send the collection agency a letter that they can only
correspond with you in writing at your home address. Quote
section 116 & 117 of the Business Practices and Consumer
Protection Act (send this letter by registered mail, it is now
against the law for them to call you AND you have a written
record of any harrasment or lies).
-to report complaints of unfair treatment by collection agencies
call 1-888 564 9963 this is the # for the Business Practices and
Consumer Protecion Authority
-If you have no written records from the Collection Agency, ask
for a written notice in writing and quote section 115 of the
Business Practices and Consumer Protection Act
I will post more info as I get it.


Posted By: SolveStudentDebt
Date Posted: 13/August/2005 at 5:24am

Best of luck!

Johnny

http://www.cfwgroup.ca - www.cfwgroup.ca

http://www.cfwgroup.ca/forum - www.cfwgroup.ca/forum

 

 



-------------
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com


Posted By: iiNSTiiN
Date Posted: 22/December/2006 at 8:04am

RUMOUR HAS IT THAT EDULINX (STUDENT LOAN PROVIDER FOR CIBC) LOST THE CSLP CONTRACT TO COMPETITOR RESOLVE. 

WILL CIBC REMAIN WITH EDULINX OR MOVE OVER TO RESOLVE?

WILL MORE HORROR STORIES RESULT IN A CONVERSION OF LOANS OUT OF EDULINX?



Posted By: Nikki
Date Posted: 21/June/2007 at 2:26pm

About a year ago my boyfriend paid off his student loans. Now the CIBC has taken all of his money and it went to Alliance One. There was no warning or any sort of notice. He has tired calling Alliance numberous times, but either gets their answering machine or told he has to talk to a specific person, which he cannot get a hold of either. Can they actually take all your money and not even give a reason? He has all the receipts from paying off the student loan and has no clue why they took his money. Now he can't pay for rent or even food. Is this legal? Has anyone else been through this?  



Posted By: administrator
Date Posted: 22/June/2007 at 7:33am
Nikki, Check this post for some help...


http://www.canadastudentdebt.ca/forum_posts.asp?TID=3999&PID=24864#24864 - http://www.canadastudentdebt.ca/forum_posts.asp?TID=3999&PID=24864#24864

-------------
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024



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