Hi there!

I'm new to the forum--only my 2nd post!  I have so many questions & comments!!!  My husband has a small student loan with CIBC and I am extremely frustrated with how they are treating him! 

Prior to us dating and marrying, he left a relationship with a pile of debt and claimed bankruptcy.  He's such a nice guy that he didn't include the ex-gf in the bankruptcy--it might have been manageable had he done that!

Anyway, because of his bankruptcy, he is a "special case" in CIBC's eyes and must deal with this ONE PARTICULAR woman ONLY about his loan.  We have been making lump sum payments on this loan, as it is next on the list (snowball payments).  We are VERY happy with the progress--it is now UNDER $2,000!!!  YIPPEEE.

My frustration comes from how difficult it has been to get a statement of account from her/them!  My husband called about 5 weeks ago and left a message requesting a statement of account be mailed to the home address--no response....a week later, he left another message....no response....a week later, her message said she was on holidays & to contact some other guy...he left a message for this other contact and again...(you guessed it), no response! 

Finally he reached her on the phone (she actually picked up!) and he just got the balance of the account from her (with some attitude, of course from her!).

WHY IS IT SO DIFFICULT FOR THEM TO MAIL OUT A STATEMENT??  Fine, we accept that because of his 'history' he is now "special" in their eyes, but he has not missed a payment since his discharge back in 2001 and we have been making these lumpsum payments for about 3 months. 

Every other student loan that I have, I get statements--it's nice.  I see how much of each payment goes to interest and how much goes to pricipal--not so difficult for these other establishments!!!

We will be SO HAPPY to have CIBC paid off--hopefully by Christmas (insert crossed fingers here)!  Then he won't have to deal with them anymore!  Thank goodness my husband has boatloads of patience, because I would have lost it on her!

Well, that's my rant on this topic--does anyone know how to get a statement from CIBC?  I have started doubting whether we received his tax receipt for interest last year....I'll have to look more closely in the next few days here.

Cheers!

Why?

Because they HAVE no statements, Susan.

Absolutely disgusting that such a large and complicated debt taken on by people with such little relative experience dealing with debt has no paper trail to enable them to handle it competently.

Johnny? Is there a reason behind this? Can't be to save the trees...

Poly

My worry is that when we get down to the dollars & cents on this loan that there is no record of what we ACTUALLY owe! 

I guess I'm just worried that we will continue with our lump sum payments and they continue with their monthly withdrawl...we'll get to the end and we call/go in/whatever to pay the "balance" only to have them CONTINUE to take their monthly payment!  Then how long until they pay US back for their mistake???

I'm worried it won't end smoothly--there will be SOME hiccup that will cause me headache!  Just reading these horror stories, I know our's is NOTHING...I question the honesty/transparency/capabilities/accuracy of this institution and the impact of this on our situation.

To not get a statement is so ridiculous!  Are they as inept with their car loans, Visa statements, mortgages, etc as they are with student loans???? 

How do I know that these lump sum payments are being applied to the principal, as his loan papers indicate they will be???  It's just so frustrating to have this so out of control!  I'm a stickler for paperwork and these guys aren't going with the flow!

It's just so frustrating being kept in the dark!

All a collector has to do is walk over to their co-worker in admin and tell them to print an account statement, and then mail it. Not a difficult process at all.

Unfortunately, collectors have very little attention span and are too preoccupied with hammering someone on the phone for a quick commission. By the time they get off the phone with someone who is asking for an account statement, the collector has already taken another call - and then another - and another. By the time they have a free moment, they have long forgotten about that account statement.

In other cases, they simply tell people that they are collectors and not lending reps. Instead, they tell people to go to the lender directly for a statement of account.

Just another one of those strange phenomenons happening within collection agencies.

Johnny 

This woman that we have to deal with is WITH CIBC--not a collection agency!  That's why I'm so baffled by the inability to generate a 1-2 page statement and put it in the mail!  Do they not send out regular statements for every other loan people have with them?  (Visa or M/C, mortgage, car loan, etc)

She's like the "enforcer" or something--quite funny...she makes him call her Mrs. *last name*...no, "Hi this is Alice".  It's like an ego trip or something!

So, she is with the bank not an agency....I may have caused some confusion there!

Call me tomorrow and I will show you how to get your statement - very quickly.

Johnny