Scotia Bank Horror Stories... - Scotiabank and bankruptcy

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Scotiabank and bankruptcy

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=4252
Printed Date: 26/March/2026 at 8:58pm
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Topic: Scotiabank and bankruptcy

Posted By: hunter
Subject: Scotiabank and bankruptcy
Date Posted: 03/May/2007 at 10:16am

I have been a customer of Scotiabank for ten years but this week I will be closing the account. They dont want my business anymore since I went bankrupt in 2002. I was talking to a bank manager and he said even though the credit bureau reports a bk for 6 years they have the right to refuse all customers who have filed in their lives whether it be 10 years later or 7.

I stated to him that is so dumb. I checked with the Bank of Montreal and they are not like this at all. They said once the bk is off your credit report they will look at you in terms of financing.

I have established credit elsewhere since the bk. I was able to finance a vehicle(higher interest rate) have a credit card not secured with a nice limit, and have received a personal loan with a bank. Scotiabank wont even give me a $ 200 overdraft because I am such a bad risk. I have made each and every payment on time since 2002 and I am still classified as a bad risk. This is such bullsh*t. So I see no reason to stay at this bank and waste my time.

Replies:

Posted By: SolveStudentDebt
Date Posted: 04/May/2007 at 1:36am

For people who have student loans that are in default - the banks to avoid would be Bank of Nova Soctia, CIBC, and Royal Bank. THese are the banks that claim to have been battered by losses due to student loan borrowers thus carry a heavy bias.

Johnny

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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: hulahoop
Date Posted: 27/January/2008 at 9:39am

How about if you've been banking with one of these banks for almost 2 year,bi-weekly pay direct deposits, no bad history, and they've a couple of times gave me overdraft (e.g., $30)- but I never applied for od. Could it be worth it in long term to get a secured credit from them to prove" myself and is this a relationship to build or should switch to another institution like a credit union?