TD Canada Trust and IQOR
This complaint concerns TD Canada Trust and IQOR, which apparently is a collection agency associated with the bank. In October of 2008, I finally switched my accounts from TD to a local credit union in October of 2008. I had had the TD-Canada Trust account for years – it was originally a Canada Trust account. I was of the understanding that my TD accounts would be closed for me by the Credit Union, and this belief was reaffirmed by the fact that since October I received no further statements or correspondance from my former bank.
I recieved a letter dated March 20, 2009 from IQOR stating that my account has been assigned to their office for immediate collection. The letter referenced my old checking account number and stated that the client was TD Canada Trust. I recieived a second letter dated March 31 noting my failure to respond, as well as phone calls. IQOR claims that I owe $184.73 immediately. I can only assume that these charges relate to accumulated fees and charges on my former account. Conveniently, I can still make this payment at any TD branch office, which makes me wonder if the debt has truly been assigned to IQOR as a collection agency or if IQOR and TD Canada Trust have some other type of working relationship.
I could simply make this payment, but as far as I am concerned the account has been closed and I owe them nothing. At the very least the account has been totally dormant so to what do these services charges apply? Why did the bank not send me statements, or notify me earlier instead of letting the “debt” run up. Again, I heard absolutely nothing from TD Canada Trust or IQOR until I got demand notices and phone calls from the latter. I’m very upset as this will no doubt harm my credit rating, and simply rolling over and sending them a check will do nothing to stop TD from continuing to act in this callous way.
I realize that the banks have internal dispute resolution departments in place, but I am loathe to use them since the bank obviously felt no compunction to deal with me in a timely manner. If anyone has faced an issue like this or has advice on the best way to deal with it, I would love to hear it.
Disclaimer
This article was submitted by one of our readers. Penciltrick cannot make any claims as to its authenticity but the article was accepted on a good faith belief that it is an accurate and truthful account of the events listed.
January 9th, 2012 at 3:54 am
To Mike:
Instead of assuming I’m fat, why don’t you man-up and get some responsibility? I know it’s like a four-letter word with people such as yourself, but you get what you deserve.
Yeah, I’m sure everyone is “scamming” you too. Take off your tinfoil hat awhile.
February 29th, 2012 at 1:57 pm
You can stop IQOR from calling (I am a retired lawyer). IQOR gets these files because the “creditor” can’t afford the time/expense of going to court. They thy to annoy/scare you into paying. Check your jurisdiction’s Consumer Protection Act. It likely has a section similar to the B.C.Act (you can find these acts online). Thee B.C. Act simply states that you simply need to tell IQOR and the Creditor that the debt is in dispute and you wish it to go to court. They must then immediately stop contacting you (I did this with a contested private lot parking ticket).The penalty if they continue to contact you, since they are a corporation, is up to $100,000. I sent them both a registered letter to this effect and said I would immediately report any further contacts. The phone calls stopped immediately (not to my surprise). You’re welcome.
April 12th, 2012 at 12:38 pm
everyone needs to realize that credit agencies and banks are all just doing the jobs they are paid to do. Pay your td loan every month and they wont take your car, or take it from your account, pay your tickets and iqor wont call you, if you dont want to talk to them the “want to go to court” only works in certain provinces, ask for their address and collector number (they must be licensed individualy in each province they collect in) and send a letter requesting only to be contacted by mail. Resend this every six months as they expire in some provinces. if you dislike them calling you then call them as many times as they call you and ask them the same questions, as a previous collector with license in 5 provinces i hated when people ask for my extension only to call numerous times over and over to ask me how im doing. btw td is by far the best canadian bank and those who dislike them obviously just dont want to pay what they borrow, you want a scam try the “local” credit unions which merged and are the worst example of taking advantage by far. also they have become equaly big since merging accross canada and should be avoided for service charge increases
April 18th, 2012 at 12:02 am
We bought out the lease for our chysler van and had
a contract between 2003 and the final payment was april
2008. our contract was under the name and address of our
buisness. We just found out in april 2012 that td auto
has bought out CHysler credit. They have left our account opened and have claimed that we owe 355.00, now
475.00 with interest and placed it on our credit report
in 2008 under my name and an address from 1998. Luckily
I found the old contract and also the bank statement
showing the last payment which was 575. in april 2008. They had credit a separate account from the contract. Will they fix it no. the company faxed us this statement and it has no date. The td credit recovery have no working fax or computer, so they claim. HELP! Impossible to get them to remove this inaccuracy from our credit report. I am furious
June 3rd, 2012 at 12:20 pm
Pay your bills you bums.
July 19th, 2012 at 3:05 pm
Hi Everyone. I work for a real collection agency. And the way it operates is we call you. except we have your information all ready so we don’t ask for it. For example. say you owe $500 to a business or you owe Visa a number of dollars they send us your information to collections. this is our introduction. “Hi good afternoon may I speak with ____ ____? Hi Im calling from the WCA and Im calling on behalf of Visa, were calling to let you know you own $500 for a birthday party @ Boston Pizza (if they ask when we tell them the date) just a reminder the amount you own is now accumulating intrust at at rate of (whatever percent)” and so on. So when we call you all of your information is on our screen, Name, Address, phone number, and maybe credit card number if you owe a credit card company and vise versa if you call us back. IQOR, when I called them to see what it was about. They did not even have my phone number. Or no information on his screen. I asked “what does it say on your screen?” and he had no information. The next day I was at work I told my manager and he told me their bullshit, their trying to get your info for telemarketing purposes. It’s not a scam it’s just the real reason why they are calling you.
August 15th, 2012 at 8:02 pm
I also had a run in with a chris sirovyak as a branch manager. he is condescending and one of the rudest people i’ve ever met in a bank. i bet he doesnt even work there anymore b/c his temper was out of control and ive observed him being terrible to other clients
September 14th, 2012 at 10:30 pm
I just went to the store today and was suprsingly declined on my debit card once again through td canada trust. Upon checking to see my balance, I had indeed still had money in my checking and also my savings accounts. When calling was told that I had a Hold on my account because back in December one of their employees had made a mistake and deposited money into my account without my knowledge, and now it was pay back time for them, no phone call, no warning just the hummiliation of standing at the checkout counter and being declinded…
Thanks TD a band that i do not feel canada should trust…
September 25th, 2012 at 7:30 pm
They collect on old debts. Trying to collect on a old OLD bill (yeah. I didn’t pay it. Life got hard. They lost priority). Anyways. Just remind them about the statute of limitations. Don’t admit or accept the debt. They must send you a letter stating all the details dates and last payment… And WHO you owe. I’ve done so with a few old problems and contacted the companies I owed directly and worked it out. Saving my credit and also alowing me to return as a customer in good standing
Basically. Just get the proper info in writing. Deal with the debt. Or take the info and speak with a trusty.
December 15th, 2012 at 5:57 pm
i was young and dumb and decided not paying my student visa was no big deal. Now im dealing with the aftermath….on my credit report, IQOR is listed as the collection agency. SO i call them to settle/pay the debt. They no longer have my account. so i says to them, then why are you on my equifax report listed as the agency collecting this debt? They say they havent had my account for a few years that visa must haave it.So i call visa and they dont have squat. How the hell am i supposed to get this off my credit if no one wants my money to pay the oustanding debt?????
May 23rd, 2014 at 1:04 pm
Not a TD fan they have disappointed me on several occasions. BEWARE A BANK DRAFT IS GOING TO BE PUT ON HOLD FOR FIVE BUSINESS DAYS EVEN OF YOU HAVE FUNDS EXCEDDING TH BANKS DRAFT AMOUNT IN YOUR ACCOUNT. SO DONT WASTE MONEY GETTING A BANK DRAFT
August 23rd, 2014 at 4:42 pm
TD VISA are crooks.
They will not shut up about their insurance plans on the phone. I have never needed to get angry at a call center employee before, but the first time through the ringer I was basically forced to accept insurance I didn’t want despite saying no twice.
I didn’t clue in until two months had been withdrawn from my VISA, so I called them and told them to cancel it. I am 26 and a student and if any of the things covered happened to me, the least of my worries is my credit card payment.
This woman then tries to sell me a DIFFERENT package after I told her twice or three times that I wanted to cancel, and that’s when I told her, curtly, that no means no. Whether it’s company policy for them to badger their customers into accepting unwanted services and fees or whether it was two unethical agents acting on their own, AVOID AT ALL COSTS! go Mastercard or something, do not give these crooks a dime.
November 24th, 2014 at 8:38 pm
My issue with TD Canada Trust is they take your money invest it and when you need a small line of credit and have the collateral to cover the debt they refused to lend you the money, I always paid my bills on time never missed a payment, so WTF wrong with this *******Bank, they piss me off so much that I am now canceling everything from TD, house insurance, car loan and as soon my G.I.C is up next year I will be closing the balance. I was a customer for 10 years just venting here cause I am pissed off at these *** holes, will never deal with them again and telling everyone to go to a credit union instead, we trust them with our money but they don’t seem to trust us at all and for no reason, we are just a # and a % but if they have the collateral why not help your client instead of making them feel like a piece of SH**, also hate that everyone can hear your business they put chairs close to the offices so everyone can hear, they not even smart enough to soundproof them idiots, or maybe there going broke and don’t have enough of our money with there monthly fees they charge us or maybe there going belly up soon with all there CEO’s yearly bonuses!!!! This bank is a joke they should call themselves Bank of B.S. I don’t trust nobody with my money if they don’t trust me when I request a line of credit on my own f***** $$$$$.
TD BANK CANADA SUCKS!!!!!!
June 6th, 2015 at 9:52 pm
TD is fucking stupid ass idiots who steal ur money! I also had an issue with PayPal going into my savings and then the bank gave me over $300 in NSF charges!!!!! and that waswas after a stop payment was put on my account!!!! They tried saying we r not giving u back thensf charges I said unless u wanna go to court u will it states clearly on the easyweb banking, if a stop payment is on the account and they allow PayPal or anyone to take money out,THE BANK IS RESPONSIBLE TO TAKE THE NSF CHARGES OFF AND PUT UR MONEY BACK IN UR ACCOUNT! They took all the NSF charges off and I got my money back! Exercise ur rights and they will realize ur not taking there shit and that u know ur rights! And to all the TD employees on here that are mouthing off to ppl how about u shut ur fkn faces do ur jobs and stop trying to steal ppls money the customer has the rights ur just pissed cause the truth is out! Ppl stand up for yourselves and don’t take their shit! Good luck everyone on whatever you’re issues are with this shitty ass bank and hope all goes well for everyone!
November 19th, 2015 at 4:17 pm
iQor is at it again. In 2013 they were fined over CDN $400,000.00 for using an ADAD (Automated Dialling and Audio Device) by the CTRC. This device dials your number, but when you pick up, there is nobody on the other end. They were using these machines incessantly. It seems they are using these machines again. Also with the same number, +1 877-503-2115, except this time, it appears they are going through the United States (at least, on my phone, it says the call is originating in the U.S.). I have been getting calls from this number an average of once every 2 hours. There is a debt, yes, but it is going through a legal dispute, therefore noncollectable at this time.
November 19th, 2015 at 4:18 pm
CRTC, not CTRC.