Just to pass along opinions.
I have been dealing with three large banks Royal, CIBC and TD BANK.
I have run into finanical trouble due to health concerns.
All Banks were duly notified of the problem and were told that all
accounts were very likely to go into default because of the health
concern.
I was surprised that CIBC were reasonable on this. ROYAL Bank were exceptionably reasonable.
Reasonable in this case just means they hold the defaulted loan a
little longer before sending it into collections. Reasonable also means
when it does go into collections it is flagged appropiately so that
collections companies are aware collection is unlikely and to only
pursue the matter "lightly"
That's right, reasonable is really to not harass people that have health concerns.
THIS IS WHAT I WANT TO PASS ALONG ...
TD BANK ... even though they were informed like all the other banks,
they still sent everything into collections, with the kill switch on.
This resulted in about 200+ calls a month for the past five months.
They get away with that number of calls because they consider every
separate defaulted loan a separate item and farm them out to separate
collections. This means each "collection item" can legally have at
least one call every day.
I know TD BANK is the people causing all the collections calls, because
ROYAL and CIBC did not even bother to sent theirs to collections yet.
When dealing with TD BANK, remember that someone will get "screwed", either you or them. Make sure it is them.
The only real power I have is to pass this story along to as many people as possible.
The story is TD BANK ACTIVELY chooses to harass people will beyond what
is considered reasonable, EVEN WHEN they know there is no way the
person is able to pay because of health reasons.
If you choose to bank with TD BANK, I suggest you consider other options.
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