MAD AS HELL AT OUTSOURCING
Printed From: CanadaStudentDebt.ca
Category: Dealing with the Banks!
Forum Name: Royal Bank Frustration Stories
Forum Description: Tell us about the Royal Bank treatment
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=3225
Printed Date: 27/March/2026 at 2:02am
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Topic: MAD AS HELL AT OUTSOURCING
Posted By: jo33bc
Subject: MAD AS HELL AT OUTSOURCING
Date Posted: 28/December/2005 at 2:20pm
I am no stranger to these message boards! I'm back in SL Hell, and it is even worse this time around now that RBC has outsourced the loans to a half ass third contractor. I have had MORE SCREW ups and am fuming, this is going to kill me having to deal with them. The lost my consolidation forms, and I have been phoning them 3 times a week since the middle of November. My loan was suppose to be consolidated by December 1. Today, December 21, I get the consolidation forms in the mail, along with a letter telling me my loans are over due!!!!!! I got on the horn and because I have recorded every single freaking call that I've made to them in the last six weeks, was able to run down a list of names of people I had dealt with and the run arounds they were giving me. To make it worse, this company had only logged 1/4 of the calls I've made to them!!!!! To make it worse, somebody that I spoke to on the 24th of November, at 1:15 PM my time (yes I even record the time) told me that my December payments would "pushed forward" to the 29th of December in order for them to get their sh*t together to send me my consolidation forms. Anyhow, I was on the phone for 45 mintues today with them and still don't have this whole freaking mess sorted out. I made a payment at the RBC branch in here in Calgary but apparently it takes 5 -10 days for them to get a payment eventhough they are "suppose" to be in "theory" part of the RBC!! Who the HELL can I contact with regards to this, who is in charge here, and why was the RBC allowed to contract this out!!!! All the BS with this company is going against all the Federal laws with Canada Student loans, like, it takes 3 full working days to process any kind of request, so basically it is now our responsibility to "plan ahead" to give their inept company time to process the paper work. I've had it!!!!!!! I've just had. Can someone tell me who to contact to lodge a complaint against these idiots!!!! 
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Replies:
Posted By: nights99
Date Posted: 24/July/2006 at 11:37pm
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I am a former RBC Student Loan employee - and I agree with you, outsourcing these loans was a mistake for customer service, but makes good business sense and you would think RBC would have learned from CIBC's quick jump to Edulinx. Now on the other side of the coin, RBC would have had no choice but to outsource. You see, back in 2000 when the governments announced they were going to be taking back the Student Loan programs, Student Loan employee's starting jumping ship at a fast rate - jobs were becoming redundent and fast. When I started in 1997 there were at least 100 people on my shift - when I left in 2002 there was only 20 left. Not a pretty picture. It doesn't make good business sense for the bank to fill positions on a portfolio that was loosing money and not making money. Outsourcing in my opinion is the wrong direction because you are basically contracting somebody who has no idea what the product is about or how it operates - but in the bank's eyes - why continue to support a product you don't make a cent on? I feel for you - it's to bad because Students today do not know where to turn for answers on their Student Loans. What should have happened back in 2000 is the governments should have purchased back all the Student Loans instead of creating this confusing two-tier system they have got going now. May the force be with you. |
Posted By: TheSpaceLord
Date Posted: 10/September/2006 at 9:23am
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So much for applying to CIBC for work..... In all seriousness I've had similar problems with the RBC's customer service department myself but more in line with them giving me phone numbers to some of their main western branches whenever I'd try to see about my repayment file (I set up my student loan payment plan with RBC when I was attending university out west 6 years ago). Needless to say, all of those numbers turned out to be inoperable and when I phoned the initial office to inform them afterwards that the numbers they had given me didn't work. The caller at the other end of the line would feign a hint of surprise whenever he/she said "gee, they must've closed down operations" last week. Seriously, even without having set up my loan with them I'd say it's obvious that the RBC are pretty shortchanged in parts of their customer service department. No offence to any past or present RBC employers here but I'm glad I no longer do business with them. It's not worth my sanity. ------------- "I'm in hiding/Just leave me be/This is my first step to my date with poverty" |
Posted By: SolveStudentDebt
Date Posted: 10/September/2006 at 11:27am
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The problem with the outsourcing group that RBC
contracted is that it doesn't know the product. That corporation does not
realize that the personal financial and social security of a large number of
Canadian citizens lies in their hands. How can it propery provide service to a
population that it knows nothing about?
------------- 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: 10/September/2006 at 11:28am
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The RBC did have a choice. RBC is as much in the
dark as to how to service and help people as its third-party service center.
The big problem with RBC is that it does not know how to manage its assets.
These assets are students that are facing financial hurdles every day.
------------- 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: 10/September/2006 at 11:29am
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The moment the banks became involved (1995),
that is when the Canada Student Loans Program went to hell in a hand basket.
Banks center around profit, and the Canada Student loans program was not built
as a business of the sort, until now of course.
------------- 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: 10/September/2006 at 11:30am
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The default rate in Canada - over 25%. This
particular tragedy does not JUST happen. This is how many student loan
borrowers are currently trying to cope with the fact that their financial and
social lives are destroyed. This is absolutely evil. Johnny http://cfwgroup@tekcity.net - www.cfwgroup.ca ------------- 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 |