CiBC and Edulinx Horror Stories

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EDULINX

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=4102
Printed Date: 27/March/2026 at 4:21am
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: EDULINX

Posted By: elas-t--i-----c
Subject: EDULINX
Date Posted: 23/February/2007 at 7:44am

,,, I had a Ontario school loan of only 3000. I was still attending school and was in a period of what is called "interest relief". This means that no principal was to be paid and interest was NOT calculated (as long as I am registered as a student). This did not stop EDULINX from withdrawing $300 from my BANK account without my permission. I am SO mad. I did NOT sign any paperwork allowing automatic withdraw. I did NOT authorise this, and my own bank (TD) wouldnt tell me any information. The WORST part of their action is when the money was transfered from MY account to EDULINX (I still have the cheque) there was not enough money in account to cover my RENT cheque. This made me look TERRIBLY bad( defamation of character). But after calling EDULINX ant telling them I would call the R.C.M.P. (canadian version of police) they returned the money immediately. I have STILL not recovered from their illeagle action. My name has NOT been cleared at my bank and my landlord STILL worries I will not be able to pay in future. I wish to persue legal action against EDULINX... So all drop a line here to BAND TOGETHER.

Replies:

Posted By: administrator
Date Posted: 23/February/2007 at 10:57am

If you read the back of your student loan agreement, it allows them to go into your bank account.

NEVER use the bank account that you deposited your student loan into.

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

Posted By: elas-t--i-----c
Date Posted: 23/February/2007 at 3:53pm

I should add that I was not in default, but in interest relief. I was lucky enought to hear horror storries about collection agencies before I applied for my loan. I purposefully did not give any phone number to OSAP or any institution which forced all contact from them to be through the mail. Immediately after their convenient withdrawl from my account, I closed it and opened another. I had such a bad experience, I do not feel this country SHOULD benefit from my skills, or my money. They directly represent the country which I was planning to work in but their behavior makes me want to take my recently acquired degree to a country that respects the next generation. The program I want is available everywhere.

Here is a TIP,,,,,,,,,, your going to get the same treatment everywhere you go so remember...

1)Never give ANY phone number for ANY reason~unless they refuse service

2)If you are forced to remove yourself from a situation where you have issued post-dated cheques~there is a HUGE fee to cancel EACH cheque....Just close the account! re-open another(do not abuse this) Every time a cheque is cashed they will be returned to them with "THIS ACCOUNT IS CLOSED"