CiBC and Edulinx Horror Stories - where di my debt go

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where di my debt go

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=2466
Printed Date: 27/March/2026 at 12:33am
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Topic: where di my debt go

Posted By: jessicamk
Subject: where di my debt go
Date Posted: 30/March/2005 at 11:04am

Hello. For the longest time i was keeping my CIBC account in over draft ($380). Then one day i go to pay off my overdraft and close my account but I find that it has already been closed. CIBC dosnt know whether it was sent to collections or if they just wrote it off. My account was closed March 3 and I havent recieved a letter or call from CIBC or any collections agency yet. WHATS GOING ON???

Please help. Im only 23 and dont want to have a bad record lol.Who can I call. I live in Oakville ,Ontario.

Thanks

Replies:

Posted By: Observer
Date Posted: 30/March/2005 at 12:30pm

CIBC would have sent the account to collections. Get a hold of your Bank Manager or assistant manger and tell them the circumstance and get it paid. Trust me if you don't you'll be hearing from one of the collections agencies. CIBC automatically sends accounts under $500 to a CA for collections.

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Retired Collection and Credit Executive

Posted By: kwelmm
Date Posted: 30/March/2005 at 12:32pm

Jessicamk,

Your situation sounds very similar to one that I had with my overdraft at the bank i used to deal with. Eventually the bank wrote off the overdraft and then I had a collection agency calling to have it paid to them. I settled for a little less than what the overdraft amount had accumulated to.

I find it hard to believe that the bank does not know whether it was sent to collections or wrote off...it was most likely because the person you were talking to didn't really know themselves...and didn't bother to investigate the situation for you.

Call the bank back...or visit them in person...and ask to speak to one of the personal bankers....they will know what has happened to it!!! It will be in their information system.