Scotia Bank Horror Stories...

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ARC

Printed From: CanadaStudentDebt.ca
Category: Dealing with the Banks!
Forum Name: Scotia Bank Horror Stories...
Forum Description: Describe your dealings with Scotia
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=3103
Printed Date: 26/March/2026 at 10:30pm
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Topic: ARC

Posted By: williad
Subject: ARC
Date Posted: 09/November/2005 at 10:26am

I am a student loan customer. My loan was with Scotia bank . I was not working for a short period two years ago and applied for interset relief. when the asked for income conformation i sent a copy of a Ei document stating my benifit amount as EI amounts dont change, in other words what your statement says you'll recieve that is what you recieve for the time you are on a claim, i thought that this information would be fine, how ever 3 months later the loan was placed with ARC(Accounts Recovery Corp). The guy i spoke with from ARC informed me that i needed the stubs from EI for the last 3 months before my interest relief Application, so i proceeded to get the information and send it to him. He then informed me that i had used up my IR and now would have to give them the full amount from another source. I offered to pay the 3 months of missed payments and start paying the $120 dollar a month SL payment and he told me they wouldnt accept that, all the wanted was me to borrow the money to pay them in full, i tried to borrow the money but couldnt get it, that was 2 years ago. since then i pay $50 dollars a month. They phone my moms house and harrass her. The send letters telling me that i have 30 days to pay or further action will be taken, and today they told me mom that if she doesnt give them my new home number that she will put my account on someone elses desk and that they have ways of finding out my number, they also asked for my work phone number. Can someone pls help me out, i think im in the right, im not trying to avoid paying my loan, i make 44 000 dollars a year and have the funds to pay but can not get any sense out of ARC should i contact Scotia Bank to take back the loan????????

Replies:

Posted By: Tesla
Date Posted: 10/November/2005 at 7:40am

Williad

Your problem with ARC is similar to mine. I've just managed to find good employment and start mpaying back student loans, ARC currently holds $14k in loans from Scotiabank and I suffer their garbage almost daily. They've even recently recently refused to deal with my power of Attorney. My advice to you to to seek legal intervention of some sort. I would look into a community legal clinic and/or lawyer with experience in these matters for some advice. Most of all though document your experience extremely well.

Goodluck

Tesla

Posted By: SolveStudentDebt
Date Posted: 15/February/2006 at 4:14pm

Will,

This can be solved rather quickly.

Tesla, who is/was your POA?

Johnny

http://www.cfwgroup.ca - www.cfwgroup.ca

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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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