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Forum LockedRBC Outsources student loans!

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    Posted: 15/August/2005 at 6:28pm
Outsourcer takes over student loans from RBC

http://www.itbusiness.ca/index.asp?theaction=61&lid=1&sid=59 674
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Hunter2 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Hunter2 Quote  Post ReplyReply Direct Link To This Post Posted: 15/August/2005 at 9:25pm
Lovely.
Thanks for the heads up.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Staretz Quote  Post ReplyReply Direct Link To This Post Posted: 16/August/2005 at 12:06am
Not surprised somehow.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sharpetorium Quote  Post ReplyReply Direct Link To This Post Posted: 06/September/2005 at 8:53pm

I was told this today by the nice lady at RBC student loans.  Apparently I was supposed to have received information on this "ages ago."  Apparently not, and it doesn't look like I'm the only one!

It is happening on September 12, but she did not tell me where to send payments to because she didn't know!!!!

She did give me a number: 800-363-3822, which is the RBC student loans number and already closed for the day. Genius.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 07/September/2005 at 4:49am

"... but she did not tell me where to send payments to because she didn't know!!!!"

All she had to do was click open the main profile of the account and scroll down to see the loan's status and location. If will tell the representative that the account is either still with RBC, assigned out to a third-party collection agency, or on hold due to bankruptcy.

When a bank uses an outsourcing group to handle this particular portfolio, it means trouble.

Johnny

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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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Post Options Post Options   Thanks (0) Thanks(0)   Quote sharpetorium Quote  Post ReplyReply Direct Link To This Post Posted: 07/September/2005 at 11:58am

...but that's just it...I'm NOT in collections and all my loans were listed as "up to date"

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Post Options Post Options   Thanks (0) Thanks(0)   Quote sharpetorium Quote  Post ReplyReply Direct Link To This Post Posted: 07/September/2005 at 11:59am
P.S., Johnny, I think they are outsourcing all their loans
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 07/September/2005 at 5:43pm

Actually, the outsourcing group that is working for RBC is not handling the collection and recovery of student loans. The RBC still has their central home-base for these issues.

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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Post Options Post Options   Thanks (0) Thanks(0)   Quote sharpetorium Quote  Post ReplyReply Direct Link To This Post Posted: 07/September/2005 at 6:21pm
Johnny, I have an update.  After 45 minutes and three phone calls, something that all the friendly associates should have known was related to me.   She did have to put me on hold three times to figure it out, but I digress.

The first 800-number that I posted (that I was told would have all the answers) could not find my information anywhere.  This was causing me to panic until I found out it was the 800-number for Ontario student loans. Why this number was given to me when the nice lady at Western Canada loans had my Sask loan IN FRONT OF HER was, at first, a mystery.  I called the Western RBC back, they gave me another number that didn't work, called back again, then they looked up my information and confirmed that the loans were being outsourced to the same company that Ontario used, which was why they gave me the Ontario number. 

WHA????

My loans still go to the same address, nothing has changed, other than they have been "outsourced."  I told them it would by nice if they could send out a freaking flyer or something before causing mass panic.  As an aside she told me I should send post-dated cheques so that I 'didn't have to worry.'  Are you kidding?  They don't even send statements! 

I informed the nice lady that maybe I should let my loans go to collections so that I could write one check at the end of the month, instead of four, since it's so difficult for them to consolidate.  It's not like I can claim the stupid interest on my Canadian taxes and I sure can't use it on my U.S. ones.

Well, that's a long story long for you.  I find that persistence and rudeness usually do the trick when you at first can't get an answer. 



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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 07/September/2005 at 6:46pm

 

 Persistence usually pays off.  Garnished with a bit of attitude, of course.

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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