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CIBC/IBB/FDR

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Topic: CIBC/IBB/FDR
Posted By: nido
Subject: CIBC/IBB/FDR
Date Posted: 19/December/2011 at 1:16am
Hi There,

I am hoping someone can help me?  I went out Christmas shopping Saturday Morning and tried to use my debit card and got insufficient funds...I got paid a few days before so I know money was there.

I went to the bank teller and they told me that there was a debit for the exact balance on my account..

So here is where it all gets fishy...The "debit" it was from "IBB Loans"...never heard of it.
The message on my account was to call "FDR"....never heard of them.

I have never authorized any type of automatic debits on my account so I got angry at the teller (for obvious reasons they just cleaned me out-literally-they never left me 5 cents) so I demanded to speak to the branch manager.
After some digging on his part he told me that "CIBC Collections" authorized the debit.  He calls them while I am sitting there.

This mope proceeds to tell me that its for a Student Loan.  I lost my freakin mind.  As far as I am concerned my student loans are paid off.  I paid the government-they took over my cibc loan back when they integrated the student loans.

Am I missing something?  Are they allowed to literally clean out my bank account one week before christmas?  I have 2 kids, I couldn't go to work this morning because I had no gas in my truck or any money for parking even.

I have been trying to contact someone from all 3 of these companies regarding this phantom loan (btw this "loan" is from 1999)-CIBC collections, IBB, and FDR, and keep getting sent around in circles.

Advice?









Replies:
Posted By: pvcm
Date Posted: 19/December/2011 at 12:41pm
I would check the judgment roll at the court house & i would do it quickly. i was told by a government collector that student debt is 100% recoverable which means that they can keep cleaning you out until the debt is paid. unfortunately, i don't have any valuable advice other than try calling hrdc, cibc, the collection agencies. keep calling until you get someone who can track down this loan. CIBC should still have it all on record.  i'm not a professional, i just wanted you to be aware that if they got the right to do it once, they can probably do it again. bless you & your family


Posted By: administrator
Date Posted: 20/December/2011 at 11:22am
Immediately open another bank account at another bank.  Change your direct deposit info immediately.  Otherwise it will likely  happen to your next pay as well.




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


Posted By: CrystalUnicorn
Date Posted: 22/December/2011 at 8:38am
 
Grinched by FDR
DeadHi I am in the exact same boat. Saturday afternoon I went to the store to start my Christmas shopping  I got NSF funds on my  bank card. I went direct to the bank machine to check the balance.
1566.00 Poof gone on Dec 16. I have been sick to my stomach ever since. I too had a canada student loan years ago back in the 80's
When I tried to get a hold of information the only thing the CIBC phone center would tell me is they could do nothing until I talked to FDR LTD
Saturday afternoon they were closed
I didn't eat all day Sat/or Sun Monday I filed a police report I just got my report number today Dec 22 2011 I still have not spoken to a officer yet.
I pulled my Equifax Credit report and no mention anywhere in it of a loan
I have composed my dispute letter
I have made a request for original documents to be faxed to me.
I have found out that this loan is from 1994-1995
I never took out a loan in the 90's 1994 April my son was born and then I was embroiled in a long and messy case with CSA that went on for 3 years I would not have had time to go to school.
I have found out that even tho the only funds that were in my account was my CCTB
Doesn't matter where the funds came from they took it.
So for you out there if your CCTB is direct deposit they can take it. All of it..
I have to rely on friends and family now just to buy my Christmas dinner.
I have been trying to find some way to get my funds back but now I am in fear that any money that touches my account will be taken I don't even have enough to open another account.
NS and Ont are the only two provinces that do not have a statue of limitations on student loans
I don't know how FDR has any legal right to go into anyone's account. If anyone has any additional information on how this is possible how a collection company has the legal right to go into an account and just wipe someone out. There is on thier website a listing that CIBC is a client of thiers and I'm pretty sure when I opened this account in 2005 I did not give the CIBC the right to give access to a third party.
Any info would be helpful at this time.
Grinched by FDR


Posted By: administrator
Date Posted: 23/December/2011 at 6:29am
Crystal  and Nido ....    Did you get your loans through CIBC?  

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


Posted By: CrystalUnicorn
Date Posted: 23/December/2011 at 7:53am

I took out a loan with Scotia Bank in the 80's. And consolidated after to pay it off

I Never had a loan with the CIBC.

 

 



Posted By: ChugBug72
Date Posted: 23/December/2011 at 8:15am
My CIBC account statement showed up in the mail in October.  The closing balance was $0.09. 

I had put in $88.50 to put the balance in the black (the account was -$3.91, probably due to bank fees on a $0 balance!) minimal, as this account is one I don't use very often.

A withdrawal was taken out as a "LOAN PAYMENT" of $85 to "IBB COLLECTIONS, TORONTOTORONTO" [sic] on Oct. 17, three days after I made the deposit.

Royal Bank did this to me when I was still a student in 1997.  I have never done business with them ever again.  That's what will happen to this account as well.  I will close it and never do business with CIBC again.


-------------
Dreaming of a debt-free future.


Posted By: terrym
Date Posted: 23/December/2011 at 1:11pm
CIBC also did the same to me years ago for my loan from 1990. Please, learn from my mistake. Join a credit union immediately, NOT a bank. Initially when my CIBC account was drained, I went first to TD Canada Trust. CIBC drained my new TD account. Next, I opened an account with the Royal Bank, and it was drained by a collector in Burlington, Ontario. Finally, I opened two accounts with credit unions (Alterna and my local municipal credit union). My credit union money has never been touched. However, since 2004 the collector takes my tax refunds. From my own personal experience, expect your wages to be garnisheed by CIBC's collector as the next scare tactic. This happened to me twice, even when I changed jobs. (Incidentally, I've repaid all of the principal of my loan, only interest is outstanding.)

My oldest son had the same problem with CIBC last September, although he lives hundreds of miles away from here, has a different surname, and only defaulted in August 2011. Bank account seizure must be systemic throughout Canada and spans generations. Luckily, my son receives ODSP, which is legally protected. He got a student lawyer to confront CIBC, and all but $50 was returned to my son's account. The $50 was a birthday gift, not pension money. It took two months to resolve the pension seizure. Unfortunately, my son is now so afraid of losing his pension that he does not trust credit unions, either. He switched from direct deposit to paper cheques, which he cashes at Money Mart for extortionate fees.

My heart goes out to you both. I remember exactly what it's like to go to the grocery store after work on payday, only to be embarrassed at the check-out counter. Just phone 211 for the contact info of your nearest food bank. You'll be surprised to find so many food bank recipients in exactly the same predicament. CIBC is quite aware that many of them have young children, and they will also suffer. The timing of your account seizure is no accident. Please keep us posted about how you resolve this.

Merry Christmas!



-------------
trm


Posted By: administrator
Date Posted: 23/December/2011 at 2:56pm
Comrade-conrad
Appreciate your help, but we dont post emails here due to phishing by collection agencies... Could you post the info here?

Thanks
Mark


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


Posted By: terrym
Date Posted: 23/December/2011 at 3:25pm
Please try a credit union or caisse populaire, instead of a bank. The Big Five banks seem to have a reciprocal agreement for identifying and siphoning off money from the accounts of "deadbeat" student borrowers without due process. Even if you fight to get legally protected money back, it may take a couple of months to recover it. Click to find a credit union near you:  http://www.cucentral.ca/" rel="nofollow - http://www.cucentral.ca/

-------------
trm


Posted By: m66m
Date Posted: 24/December/2011 at 9:55am

i'm just wondering whether there is a way to parlay a student loan into a run-of-the-mill loan through a bank which isn't treated the same way as student loan:)


Posted By: m66m
Date Posted: 24/December/2011 at 11:51am
Originally posted by CrystalUnicorn CrystalUnicorn wrote:

 
Grinched by FDR
DeadHi I am in the exact same boat. Saturday afternoon I went to the store to start my Christmas shopping  I got NSF funds on my  bank card. I went direct to the bank machine to check the balance.
1566.00 Poof gone on Dec 16. I have been sick to my stomach ever since. I too had a canada student loan years ago back in the 80's
When I tried to get a hold of information the only thing the CIBC phone center would tell me is they could do nothing until I talked to FDR LTD
Saturday afternoon they were closed
I didn't eat all day Sat/or Sun Monday I filed a police report I just got my report number today Dec 22 2011 I still have not spoken to a officer yet.
I pulled my Equifax Credit report and no mention anywhere in it of a loan
I have composed my dispute letter
I have made a request for original documents to be faxed to me.
I have found out that this loan is from 1994-1995
I never took out a loan in the 90's 1994 April my son was born and then I was embroiled in a long and messy case with CSA that went on for 3 years I would not have had time to go to school.
I have found out that even tho the only funds that were in my account was my CCTB
Doesn't matter where the funds came from they took it.
So for you out there if your CCTB is direct deposit they can take it. All of it..
I have to rely on friends and family now just to buy my Christmas dinner.
I have been trying to find some way to get my funds back but now I am in fear that any money that touches my account will be taken I don't even have enough to open another account.
NS and Ont are the only two provinces that do not have a statue of limitations on student loans
I don't know how FDR has any legal right to go into anyone's account. If anyone has any additional information on how this is possible how a collection company has the legal right to go into an account and just wipe someone out. There is on thier website a listing that CIBC is a client of thiers and I'm pretty sure when I opened this account in 2005 I did not give the CIBC the right to give access to a third party.
Any info would be helpful at this time.
Grinched by FDR


as long as there's judgement on you, it will be there in perpetuity until monies owing get paid back to the bank or other institution. It's just a matter of time. I feel for all of you, but, get better educated in things like this by shielding your hard-earned money a bit better. Leaving money in the big 5 is just begging for trouble. Merry Christmas, anyway.


Posted By: m66m
Date Posted: 24/December/2011 at 11:54am
student loans are the bane of western society. My kids will work their asses off before they ever apply for a student loan. With the job market the way it's been for so long, owning a student debt is virtually a life sentence of misery.


Posted By: hwillm1977
Date Posted: 25/December/2011 at 4:37am
This happened to me a few years ago... when I originally started paying back my loans I had set up automatic withdrawals for my payments, then stopped making payments when I lost my job.  The loans were taken out from 1995-2001, I stopped making payments in 2003.
 
About 4 years ago they took my entire paycheck... it was deposited through direct deposit, the next afternoon when I tried to pay my rent the balance of my account was $0... I called CIBC, they said 'You owe us money, so anything you make is ours...'  I said, 'well, I can't drive to work without gas so you won't get much more'... they didn't care.
 
They got four of my paychecks (not all in sequence, I would get to the bank early the day I was paid to withdraw the entire check) before I finally got an account they didn't have access to, and haven't gotten access to in the last 4 years.
 
I'm now at the point where I just want to declare bankruptcy, and I don't even know who has the loans anymore... I requested my credit report, but it's been so long since I've paid on them that all but the CIBC one (which was the one that stole the money from my account) has disappeared from my credit report.  I only get statements from one of the loans... I have 4 different ones, each with different banks and I'm assuming now each with different collection agencies.


-------------
Heather Williams


Posted By: terrym
Date Posted: 25/December/2011 at 8:07am
Heather,

Unfortunately, bankruptcy and consumer proposals don't work, because student loans are survivable debts. A trustee can only help with your credit cards, mortgage, and other debts that enjoy a legal moratorium. If you list the student loan as a debt on your proposal -- and you are legally obliged to disclose it -- then your problem will actually worsen. Your trustee must include the student loan in the repayment plan, which acknowledges the debt. When my trustee disbursed money to pay my student loans, it started the "10-year clock" ticking again. As soon as my consumer proposal was finished, CIBC's collection agency started pursuing me in earnest, sometimes phoning ten times per day. The collector knew I had no other outstanding debts that survived the proposal, so figured it was open season on me. Pursuit by the collection agency lasted more than five years. It was quite upsetting to argue with a collector while I was in labor with my youngest son. Please, don't consider bankruptcy or a consumer proposal as your salvation.


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trm


Posted By: administrator
Date Posted: 25/December/2011 at 3:25pm
Terrym,  Your trustee was wrong. It should not have started the 10 year clock again on including loans in a bankruptcy. The 10 years is from the end of studies (and apparently some case law has shown its the end of studies for Student Loan funded studies only).   This has now been changed to 7 years or 5 years in the cases of hardship.

If the loans are statute barred, and you declared them in bankruptcy, then it would likely restart the clock on a statute barred issue, but not for inclusion in bankruptcy based on the end of study date.

Terrym is absolutely correct to warn you about a consumer proposal.  It is treated just like bankruptcy and if the lenders reject your proposal, I believe its an automatic bankruptcy.  And at the end of the proposal, student loans are not usually discharged..  something in the student loan act I believe.

If you are applying for credit, the banks treat a proposal as though it were a bankruptcy.


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


Posted By: Lurch
Date Posted: 25/December/2011 at 4:43pm
Actually that srudent loans can survive bankruptcies is no longer the case. About two years or so ago that was changed so that any student loan 7 years old or older can be included in a bankruptcy.
 
I know this from experience, I had collection agencies and Revenue Canada hounding me, threatening garnishing of wages and even contacting my employer to establish the garnishing of my wages. I was looking to get this trustee that I've had dealings with in the past to set up some sort of negotiated settlement but he informed me that in these cases the debtors (Particularly Revenue Canada) are not the least bit open to proposals and that bankruptcy was my best choice.
 
He explained to me that if I got anymore calls from any collection agencies about student loans or any other matter to put them in contact with his office. As it happened I started to get calls from CIBC collections several weeks after my trustee filed and when I told him that this debt was assigned to bankruptcy he replied that this was impossible and I was still liable for the debt, just as my trustee had indicated would happen. I received several calls from the same person at CIBC collections on that matter over the following few months and I referred him to my trustee each time, on the last call I told him to loose my number or face legal action, as my trustee suggested, and that any further contact would had better be through my trustee. He then actually got in touch with the trustee who had to fill him in on the changes to the laws that deal apply to student loans and bankruptcies. And this matter is now handled through bankruptcy and simply waitng discharge.
 


Posted By: Lurch
Date Posted: 25/December/2011 at 5:00pm
Heather,
 
Please be advised that 'terrym' is not quite correct about the survivability of student debt. The laws regarding this were changed a few years ago and any student loan that is 7 years old or more may be assigned in bankruptcy. I know this from personal experience and I am now merely waiting for the discharge date of my bankruptcy to arrive to be completely finished with the matter.
 
Please see the explanation that I have provided to terrym that has some details.
 
What you can and should do is to move your personal banking to a financial institution that you have no outstanding debts with and start looking for a competent trustee with a sound reputation. Some trustees can be less than honest, trustworty or professional so performing due diligence before selecting one to handle this matter is a MUST. Usually a small independant trustee firms will go to bat for you on these matters. Those who work for/with large account firms are not really interested in this sort of matter as it isn't worth their time so they're not always up on the changes to the laws that apply and they'll provide poor or uninformed advice as a result.


Posted By: terrym
Date Posted: 26/December/2011 at 7:04am
Lurch, may I ask the name of your trustee? I dealt with A. Farber & Partners. According to the posts from you and Mark, I got less than stellar service. It's probably too late to re-open my file, but it would benefit other members of this forum to know whom to avoid.

I found A. Farber & Partners to be quite dismissive and sarcastic, but I didn't realize they were actually giving me obsolete information and advising me to file for the wrong relief (a consumer proposal instead of a bankruptcy). I've since paid off the Canada Student Loan by transferring 
> $11,000 in disability tax credits to wipe it out. However, since I live in Ontario, the OSAP portion will never be forgiven.

Thanks for all your feedback.


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trm


Posted By: administrator
Date Posted: 26/December/2011 at 7:48am
CTV is interested in doing a story on the draining of bank accounts. I've sent emails to those who posted in this topic with contact info for CTV if you are interested.  As per the privacy policy, I dont give out emails so please check your email if you are willing to talk about this.


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


Posted By: SolveStudentDebt
Date Posted: 27/December/2011 at 2:14am

In relation to the banks draining mioney from accounts, this is a process call set-off. When you owe a bank money for a student loan, and you also have a chequing or savings account with that bank, the bank will go in and take that money and apply it to your outstanding student loan.

The month of December is a time banks are more active in seizing bank accounts because they recognize that Christmas is coming, and people tend to have more money int heir accounts this time of year because of the holidays (Christmas bonuses, vacation pays, and whatnot).
 
Some of these banks seize that opportunity, unfortunately. You have to consider the fact that these collection centers within a couple of the banks are really no different than your run of the mill third-party collection agency. They have the same outlook, attitude, and methodolgies. Many bank employed collection officers just like third-party collection agents seem to get a "high" from making life miserable for people. 
 
In Royal Bank's defense I will certainly say that they do not think and behave like the others during this time of year, or any time  for that matter.
 
 
 
 
 


-------------
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: Brian_Toronto
Date Posted: 27/December/2011 at 3:00pm
Is it true that you can now claim bankruptcy on student loans after 7 years like someone in this thread claimed?  Is this nationwide for Canada or just some specific provinces?

Can Johnny clear this up?


Posted By: SolveStudentDebt
Date Posted: 28/December/2011 at 2:55am

Anyone can go bankrupt.  They can include and apply to have a student loan discharged after the bankrupt has ceased to be a full or part-time student. THere is NO ONE that can guarantee that the student loan will be discharged. If you are experiencing hardship with extenuating circumstances then that will aid in a section 178. It is all up to the adjudicator in court at at a discharge hearing, either at the closing of bankruptcy proceedings, or application for relief under section 178 after the fact.  

Bankruptcy is governed by federal law and not provincial. same rules apply no matter where you rest your head.

-------------
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: nido
Date Posted: 28/December/2011 at 5:31am
Hi, sorry it took me so long to get back here-on top of everything else my laptop crashed :/
 
I am still fighting with CIBC and FDR regarding even the validity of this student loan.  And unfortunatly as I stated-this loan goes back to 2001.  And I am pretty good about getting rid of paperwork after about 5 years-but I am still looking for it.
 
I requested that CIBC send me the documents they had-I had a very hard time trying to get them to agree to this.
 
FDR flat out refused-they told ME to send me MY documents-yea whatever-like I just fell off the turnip truck...
 
So If I cannot find paperwork from over 10 years ago-does CIBC have me up against the wall?  I am not going to have any choice in paying this back am i?


Posted By: nido
Date Posted: 28/December/2011 at 5:33am
sorry-loan goes back to 1999-the last note on file from me is 2001


Posted By: administrator
Date Posted: 28/December/2011 at 5:44am
Nido, I send email about CTV wanting to do a story... Can you email me at webmaster@candastudentdebt.ca  thanks



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


Posted By: CrystalUnicorn
Date Posted: 28/December/2011 at 10:09am
Well sitting here still fighting. FDR said they will send me the papers but not by mail but by fax.
will be interesting too see. I contacted Student loan center they cannot find the originating documents. I don't know how this is going to play out. I didn't have a loan and no one can  show me. And with out being able to verify my signature. I don't know where I'll stand. It is really hard to prove a negative.
 
 


Posted By: administrator
Date Posted: 28/December/2011 at 10:32am
You shouldnt have to prove a negative! 

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


Posted By: nido
Date Posted: 28/December/2011 at 10:53am
a question for someone who knows what they are talking about:

I realize that if you owe money to a bank they have the right to offset-however, if they "sold" (not sure of the proper terminology) your debt to a collections agency-do they have the right to "sell" your account information (bank account info) as well?

I am still confused to the CIBC/FDR relationship.  Found out today that the "IBB" is actually an interbranch something or another-now I am pissed that no one at CIBC could tell me this?

Still all a bit sketchy in my book.

However, I got the "documents" from CIBC-do you want to know what they sent me?  A copy of a letter from June 2001 saying that a check was returned NSF-now mind you I don't recall ever writing them a check but however stranger things have happened-but I guess they misunderstood when I said send me EVERYTHING.  I requested these phantom checks. They have yet to send me something with my signature on it.

I want this to go away in the most painful way on CIBC's part-any thoughts?


Posted By: administrator
Date Posted: 28/December/2011 at 4:47pm
I think this might be grounds for a privacy complaint.... Perhaps John can answer this question about the offset. 

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


Posted By: SolveStudentDebt
Date Posted: 29/December/2011 at 4:02am

CIBC is not permitted to "sell" the student loan  to a third-party agency. A lot of that has to do with Federal legislation and law.  The only party that is allowed to buy a federal student loan from the bank is the government of Canada (known as the put-back agreement with the financial institutions involved int he first generation program).

If they are saying that a cheque was returned NSF they should also have a copy of it for legal purposes. If they cannot produce evidence of it then it is hearsay. Anyone can put a note in someone's file saying that.  


-------------
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: CrystalUnicorn
Date Posted: 30/December/2011 at 11:16am
 

Hi again everyone.


Well been doing some digging around trying to figure out my own situation however to date, No Joy on that one. I keep calling the bank the student loan office and faxing off documents to the oh so wonderful people at FDR Ltd. (who by the way seem to be very dry automated and repetitive)


Well after sending a denial letter and a letter for demand of documents photocopies of my NS Id and Health card (which I was very nervous doing since I have been a victim of Identity fraud from 1994)


Here are some details I have discovered.


Insert any bank branch on the line *__________Bank*/Student Loan Center/FDR Ltd.

They share a database any notes made on file with student loan will be viewable by FDR Ltd. It is the bank that alerts FDR Ltd. There is money in the account and they use their “off set rule” to grab what ever money is in the account the only money they are not allowed to touch is Senior Tax Refund.

It does not matter if the only thing going into that account is the CCTB or GST or any other funds.


Their is somethinggg very off with relationship with the bank and NSLC and FDR (by the way NationaStudentntnt Loan Center lol shares it initials with the Nova Scotia Liquor Commissionsion which I would love a drink rinownowf(maybe FDR will buy me a New Years Eve drink)) and I have no problem with the NS liquor commission . Just to clear that up.


It seems to me that my next plan of action is going to be going back to the CIBC for my account and show me where I signed away my right to privacy.

I am pretty sure the only people that have the right to “look” in on my personal accounts are people I have given the right too. *(Example: I am receiving disability from the province of NS. I have to sign a waiver every year that allows them access to my bank accounts income tax returns etc...) However I much like any other person out there barley reads the entire document when they sign for a bank account


FYI- my CIBC account was opened in 2005*


I have found that the loan was taken out in Feb 1994 In Feb of 1994 I was seven months pregnant with my youngest son who was born in April 1994 and at that time I had a 18 mo old home on the floor. Where did I have time to go to school. It may be a null point but I know I did not take out this loan and I know I don't have to prove anything to this forum but well that is one of the facts.


Well guys here is where I have gotten too.

I'm not holding my breathe in this matter.

I would for sure hire someone if they had left me even a dollar to work with but they took every cent.

Do I feel bullied or what All I can do now is start my harasment in 2012 to get my funds back or have them prove it was me that took this out. If anyone has any additional ideas or thoughts to share. I'll be here I'm too damn broke now to even buy a lotto max for tonight

Oh well they will probably draw my numbers.


Regards

CrystalUnicornDisapprove



Posted By: beatsbydresale
Date Posted: 08/January/2012 at 3:24pm
I quite agree with you there! 



Posted By: nido
Date Posted: 09/January/2012 at 2:13am
FDR is the most ridiculas "company" I have ever dealt with in my life.  Will not send me any documents-wants me to send them documents....like really...what kind of ars-formis place is this?
 
What do I need to send CIBC and/or FDR to get them to back off? 
 
Do I need any type of legal documents from anyone?
 
Any advice would be awesome
 


Posted By: CrystalUnicorn
Date Posted: 10/January/2012 at 8:08am
FDR as stated before enploys only automated dry soulless people.
FDR also has not sent me any documentation. They told me it would be three to four weeks to get the information and Cathy Worth who I originally talked to won't even take my call anymore. I still don't have my money back but am working with the police now to find out what can be done.
One of the things I have come up with is there is a part on the canada student loan document that states you give permission for CIBC/RBC CANADA TRUST/BMO etc they have the right to contact family friends credit reports etc to find you to secure this debt.
I have recently sent in a letter taking back that permission. I don't know how effective it will be. But in the letter to the CIBC student loan center I have stated I am removing my consent to release any and all information about me I have also delivered a copy of this to my bank. My intention with this letter is to stop them from looking into my bank account and seeing any and all money or transactions. I will post and tell everyone if my action works.
Until then a note to all
** clean out your bank account if you have any auto deposits
GST or CCTB they go in on the 5th of each quarter Jan/April/July/Oct CCTB the 20 th of each mo. Get to a bank machine the night of the deposit or first thing in the morning and take your money out or switch to a credit union.
The website shows FDR's clients and the big five are right there (CIBC/RBC CANADA TRUST/BMO)
Also any and all conversations you have with CIBC/CIBC student loan Center/ or FDR are noted in  a shared data base and if one is recording it they are all reading it. Hope my info can at least help.
One finial note the CIBC collection (IBB) told me they only money they cannot touch is senior tax returns everything else if up for grabs. Ouch
Crystal Unicorn
 


Posted By: SolveStudentDebt
Date Posted: 10/January/2012 at 1:49pm

Nido,

First, before you write any letters, how old is that loan? When was the laswt time you made a payment on it (voluntarily), or sent anything to them signed and in writing?
 


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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: CrystalUnicorn
Date Posted: 11/January/2012 at 8:39am
 
I have a question about a post you made. And the law's in which govern them if you could put me in the right direction to find out more that would be great.
as I stated before I did not take out a CLS from CIBC.
But the money was IBB transfered out of my account. Did the money actually go to FDR Ltd or did it stay with the CIBC. If FDR Ltd isn't allowed to buy the debt how are they allowed to speak on any of the details.
 
Here is the info you posted
CIBC is not permitted to "sell" the student loan  to a third-party agency. A lot of that has to do with Federal legislation and law.  The only party that is allowed to buy a federal student loan from the bank is the government of Canada (known as the put-back agreement with the financial institutions involved int he first generation program).
 
I would be interested in the answer as I am still caught in this swirling mess.
Thanks
CrystalUnicorn


Posted By: nido
Date Posted: 11/January/2012 at 11:01am
Johnny-
The student loan from what i gathered is either from 1997 ot 1999. I dont recall ever making a payment to cibc for this loan.   The " letter" they sent me last week was dated 2001 regarding a nsf check.


Posted By: SolveStudentDebt
Date Posted: 11/January/2012 at 11:02am
Student loans are written under the federal program, otherwise known as the CSLP. CIBC is not permitted to "sell" a debt as a receivabe to a third-party. They would have to get the government to back them on it and approver such a thing.
 
THe CSL program is cited int he CSLFA whereas the government can purchase 1% of the bank's losses after a certain point for a few cents on the dollar. Collectionagencies and third-party debt buyers have no access to student loan accounts.
 
Trust me, FDR did not buy the account from CIBC. It is just assigned to them for collection.
 
The money that was off-set from your bank account is applied to your CIBC student loan. FDR does not handle that money. FDR has access to information thatis given to them through CIBC. THis access allows the collection agency to view certain data. One of these access routes is called "Collection Highway".  
 
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.

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


Posted By: SolveStudentDebt
Date Posted: 12/January/2012 at 4:06am
There is likely a limitation issue and if you write to them then you have to be VERY careful how you word what you write to them. If the debt is statute barred then no action or proceedings can be taken to recvoer it.  An off-set is an "action", and if it is statute barred and an action was taken to recover all or some of the debt, then the argument is there.
 
You will need some pro help writing a letter like this that protects you, and that does not jeopardize your legal right in that respect.


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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: CrystalUnicorn
Date Posted: 13/January/2012 at 12:35am

(e) all actions grounded upon any lending, or contract, expressed or implied, without specialty, or upon any award where the submission is not by specialty, or for money levied by execution, all actions for direct injuries to real or personal property, actions for the taking away or conversion of property, goods and chattels, actions for libel, malicious prosecution and arrest, seduction and criminal conversation and actions for all other causes which would formerly have been brought in the form of action called trespass on the case, except as herein excepted, within six years after the cause of any such action arose;

Hi again this is the quote from the limitations act of NS. I am very cautious to read too much into this legal language can sometimes be difficult to interpert. But it does appear from what I am reading the document I am challenging is not only fraud (I did not take it out) But it was from 1995 and the first I heard of this was 2007.
I would be interested in the moderators comments on this.
I agree I have to act. I also have to be careful. I also have to rely on "free" advice right now as I don't have a red cent to my name and the bank's action really crippled me this last 30 days and it is only by luck I have a great landlord. Who understood and is working with me.
CrystalUnicorn


Posted By: administrator
Date Posted: 13/January/2012 at 2:17pm
See if there is any free legal advice available.  See if your local university with a law department runs a free legal clinic. 


Nova Scotia Legal Aid Commission
Delivers legal services via a network of 16 community-based law offices. Financial eligibility rules apply.
http://www.gov.ns.ca/just/legal_aid.asp" rel="nofollow - www.gov.ns.ca/just/legal_aid.asp
 
Dalhousie Law School Legal Aid Service
Dalhousie law students provide free legal assistance in the north-central neighbourhood of Halifax. 
http://law.dal.ca/Institutes/Dalhousie%20Legal%20Aid%20Service/" rel="nofollow - http://law.dal.ca/Institutes/Dalhousie%20Legal%20Aid%20Service/



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


Posted By: CrystalUnicorn
Date Posted: 13/January/2012 at 10:33pm
Mark,
Proposal for you. I can give you a call on Monday if you hear my situation and feel you can help me I will pay you your fee out of the the money the cibc has taken from me 
I really do respect the free clinic's etc but I always subscribed to you get what you pay for.
let me know what it may cost and feel free to send the answer to my email addy.
CrystalUnicorn


Posted By: SolveStudentDebt
Date Posted: 15/January/2012 at 5:40am
You could challenge the set-ff that occurred as a violation (trespass) because of a limitation issue. The onus though is on you to prove that it is statute barred first. THen you make the argument trespass once you are armed with that evidence.
 
When a limitation law cites No action or proceedings can be taken after a prescribed period of time expires, it is speeled right out here. "Action" is defined as doing something and not limited to legal action. "Proceedings" is more relevent to legal procveedings, but it does not state legal proceedings. It just cites proceedings thus not limited to legal action.
 
Some provinces make things up as they go along. They see a brown cow and decide they want to call it a white cow. so, with the power that they have, they make it law that a white cow is really a brown cow. LOL
 
The only provinces that have the correct ruling on a limitation issue are B.C. and Newfoundland.
 


-------------
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



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