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.
May 12th, 2009 at 10:08 pm
call td to complain at 1.866.485.5354
July 24th, 2009 at 9:26 am
If anyone is interested IQOR Canada is owned by Diane Vazansky and her business address is 255 Consumers Rd Suite 130 Toronto Ontario M2J-1R4 Contact Phone Number is 519-620-6302 Fax Number is 519-620-6397… This information can be retrieved by calling The Ministry Of Consumer Services Canada at 1-800-889-9768
August 2nd, 2009 at 1:12 am
yes I too had the same problem mine was a phone call followed by a letter i paid teh 100 they claimed i owed befor i had recieved the letter only to find out it was for t.d canada trust i then realized that i had never had an account with td bank ever. I asked to recieve a release letter ( on the advice of my lawyer) and was told it might take up to 6 months to recieve one ill let you know if and when i fianly get it.
Did they send you a release letter? if not ask for one and tell them that if they cant provide one legal action will be taken against them the same statement theyre letter had.
August 12th, 2009 at 6:58 pm
I had a bank card on my son’s bank acct because he moved to the U.S. for a while. Years later he filed bankruptcy. I received a letter saying I owed TD around 1200.00, as my son’s acct was overdrawn & I was a co-signer on the acct.I called & asked for proof that I owed this. TD said no signature was required to get a bank card on an acct, but the info would have been sent with the card. I wrote to the CEO of the company. I got a letter from a man saying a rep would be looking into it but then he called & said he would be taking care of it. he spoke to my husband as I was out of town as my mother was deathly ill. I called this man numerous time with no reply. I then again wrote to the ceo,Mr. Tim Hockey, with no reply. This was going to a third party collections & would ruin my credit. My back was against the wall, so I paid it, with no proof from TD that I leagally was reaponsible. It would have cost me more to hire a lawyer, i know because i tried. Anybody has any solutions, I’d be glad to hear them.
August 24th, 2009 at 7:54 pm
The status of my disability income means that not only is their no money which a court would recognize as free for debt payment ($9,000 below the poverty line) but hands are tied that would access it – this is simply not legally possible. On this basis, if a court is even interested in this matter I would like this matter to go to court and the conduct of the creditor and collection agency to be aired. As I also produce and host radio as a volunteer, on the subject of disability and disadvantage, I would additionally like to produce a segment on such an action for broadcast.
O. Reg. 103/06, s. 2 If a debtor sends a collection agency or collector, by registered mail, a letter stating that the debtor disputes the debt and suggests that the matter be taken to court, the collection agency or collector shall not thereafter contact or attempt to contact the debtor, unless the debtor consents to or requests the contact.
I have received what I can describe described as “hate calls” from iQor directed at someone with a disability, with either no one on the line when I pick up, or music playing instead of a caller speaking, or a line so noisy that the caller can’t be understood speaking against the interference.
I’ll provide you with the dates -
5 Aug 2009 – 7 calls
6 Aug 2009 – 1 call
7 Aug 2009 – 5 calls
8 Aug 2009 – 2 calls
10 Aug 2009 – 4 calls
11 Aug 2009 – 5 calls
12 Aug 2009 – 4 calls
13 Aug 2009 – 3 calls
14 Aug 2009 – 4 calls
15 Aug 2009 – 2 calls
17 Aug 2009 – 1 call
18 Aug 2009 – 4 calls
20 Aug 2009 – 6 calls
21 Aug 2009 – 3 calls
22 Aug 2009 – 1 call
24 Aug 2009 – 4 calls
October 6th, 2009 at 5:25 pm
Can someone share any feedback on customer service at TD?
I don’t have good experience working with this bank.
Their systems are slow, not friendly stuff…
How can they get the highest level of customer satisfaction?
Other banks are worse?
October 7th, 2009 at 4:00 pm
email Vikas.Kapoor@iqor.com
CEO and owner of iQor. your problem will get resolved.
Dianne Vazansky helped me in the past she is very nice and got things resolved, but she is no longer there which is unfortunate.
October 25th, 2009 at 12:13 am
is it even legal for iqor to collect on a debt that is over 8 years old?
November 19th, 2009 at 9:06 pm
I had been receiving annoying phone calls from IQOR for over 6 months. I was sick of them calling me so I finally answered. The first time, I just received dead air on the other end. The second time, I got a recorded message telling me to call a number. The third time, I actually got a woman who told me that I owe money to a collection agency and asked how and when I was going to pay.
I told her that I just had my Equifax credit check done and know with certainty that there is no outstanding balance (which is true). Without any other explanation or remark she promptly said “Have a nice day” and hung up on me. Hopefully, this means the matter has been resolved. If they call me again I’ll answer and tell them the same thing and not to call me back unless they want me to file a complaint with the local authorities for harassment.
November 25th, 2009 at 1:16 am
icore is screwing around with me right now trying to say i didnt pay off a settlement wen i have proof i did. but if they dont take that account off my credit im going to take them to court
December 16th, 2009 at 4:42 pm
so what did you end up doing? did you have to pay for it?
December 23rd, 2009 at 8:57 pm
re: calling TD to complain – it will likely do no good – they have nothing close to what you could reasonably even call “customer service.”
TD & TD Waterhouse have been completely screwing my mother around since my father died over the summer, and every time we have tried making a complaint or getting anything done we get stonewalled and/or the runaround.
If you’re looking for good customer service, I’d suggest Vancity
February 13th, 2010 at 2:08 am
TD Waterhouse is the worst broker I have dealt with despite the fact that I have President account status, their customer service is badly informed and have constantly provided me with the wrong information in regards to procedures and administrative issues relating to my account, if you are looking for quality service STAY AWAY.
February 20th, 2010 at 3:51 am
email the president of iQor Vikas.Kapoor@iqor.com to have the matter resolved!
February 20th, 2010 at 3:34 pm
Well simply put I hate TD. After receiving horrid service and being raped for several years (210$ a month in fee’s taken from all my accounts combined) I said farewell to TD Canada Trust. They are like a sticky piece of chewing gum in your hair because after transferring your funds, RRSP’s, VISA, credit, monies, mortage, et to another better non-raping bank, TD will keep calling you. I got sent a new debit card (chipped now) from account I had closed 9 months prior. When I called to get to the bottom of why I was always being called with offers and now a new card from TD I found out that I had .03 cents in my RRSP account which they had told me when I left them and transferred the funds was closed, had to be shut down in order from the calls and debit cards to stop?!?!?!? WTF! Also I found out that TD VISA owed me 113$ dollars because I slightly overpaid the account open deactivation. After TD telling me these accounts were closed 9 months prior they still had mail, callers, cards, accounts floating around with my information! I was told I had to go to the branch to close the accounts again and get the 3 cents and the 113$ from my cancelled TD VISA account. When I got to the branch they told me I would have to deal with TD VISA to get the 113$ ?!?!?!? waste of a trip! I did get the whole 3 cents from the supposed closed and closed again RRSP account. After calling TD VISA and finally getting my money I now hope TD will leave me the hell alone! I have told them If I receive one more piece of information or call with my personal information I will take legal action. TD SUCKS!!!
March 4th, 2010 at 2:08 pm
I was thinking of applying to IQOR Cambridge-however I owe money to the TD Bank-Is it true that IQOR is the collector for TD-I have dealt with TD recovery. If anyone knows, please let me know (before I apply) Thanks.
April 13th, 2010 at 12:51 pm
I hate TD Canada Trust! My mortgage was transferred to them from Citizen bank! I cannot tell you how bad they are! Now I have to go to the bank every month and pay my mortgage, which is now in their line of credit, in person!
I just contacted a mortgage broker and I will be transferring this account to some other place! I wish there was a place where I could place a complaint!
I hope TD Canada Trust goes down to HELL!
April 20th, 2010 at 7:53 am
Please contact the OMB at 1-888-804-8198 (English) or 1-866-223-6522 (French) and someone will be able to resolve for you.
April 27th, 2010 at 11:52 am
All of you have my sympathy. Indeed. But why are you not calling the Consumer Protection Agency, the Better Business Bureau, the Fraud division of your local Police, and so on. And more than anything, use the Press. Their power has no equal.
Good luck.
May 4th, 2010 at 3:23 pm
I sympathize with everyone. Have been a long time client of TD Canadatrust and Canada Trust before they emerged. Paid mortgage and LOC on time, ran into financial difficulty got behind on mortgage payments, applied for that thing were they just add what you owe to the end of your mortgage and was turned down. Got the legal letter to pay what I owe or further legal action will be taken. I can make the regular mortgage payment but things are still tight I can’t cover past arrears and they won’t help me out. Have never applied or been given that transfer to end of mortgage option in the past and can’t get it now, but they have no problem taking my mortgage insurance each month. If I could switch my mortgage I would but its locked in for another 4 years.
Very disappointed with TD Canadatrust and their lack to help their clients.
June 2nd, 2010 at 2:29 pm
TD has about 20% good people and about 80% rotten; and td knows that. td hired these 80% rotten to give minimim wage or lowest wage possible. td never hires anyone without checking driver’s record for the past 20 years, credit record, police record, and other records. Upon checking these records, td choses from among those who have less than fair backgrounds in order to give lowest wage possible; and in return, td makes money. Those 80% harasses customers or provide poor service – for which many customers close their account. Secondly, td is focused on “offering convenience” in order to increase fees and service charges, so that td can make money. td will do and does whatever is unethical in order to increase their profit.
June 3rd, 2010 at 12:17 pm
I hate TD Canada Trust and am currently trying to decide if i should take them to small claims or not….
in 2006 I got a mortgage with a canadian bank – 5 year fixed term
- in 2009 i wanted to purchase a new home, which would mean I would be closing my first mortgage to obtain the second – the second mortgage was substainally larger then the first (like 3X)
- upon discussing the options with my mortgage specialist, i learned that my bank would charge a prepayment penalty up around $8500, pending on the interest of the day
- i informed them that if they were going to charge me this penalty in full, i would tranfer my mortgage to a different bank
- i was then told they would assess my penalty and it would be waived, just not 100%
- i repeatedly called and emailed over then following months to obtain information on the status of the penalty and the amount of waiver
- i was told that the final amount would not be known until time of disbursing payout on first mortgage
- upon recieving this disburesment i discovered that no amount of my penalty was waived
- when i complained to the branch manager, he informed me that their bank under no circumstances will waive an IRD penatly
- i later learned that their policy stats IRD penality may be waived up to a maximum of $300
- this was not shared with me at any point of my dealings
- when requesting payout information, i could understand not knowing exact dollars, but they could have shared that it would be a maximum of $300 — and if i would have known this i definetly would not be banking with them and would have shopped around for a better rate and possibly a branch that would have covered some of the penalty
Do not trust them and do not bank there!
June 24th, 2010 at 11:14 am
You should call iQor’s Consumer Advocacy Group at 888-804-8198. Or, you can email OMB@iqor.com. They will be able to help with your complaints.
July 7th, 2010 at 10:35 pm
Seriously i was on hold over an hour. i needed to speak to one of your representatives but obviously you do not have any that care enough about there job to help a single mother access her money for my child. this is ridiculous
Farrelynn Hoylk
July 9th, 2010 at 6:29 am
When I took out a 2nd mtge. TD decided to stop taking out my 1st. We were away out of country, but because they failed to do their job, somehow it was my fault because I didn’t make sure they were doing what they were suppossed to.
Took a year to go through the complaints process, the 2nd stepped in paid the legal fees and other b/s I was being charged for from TD, this is the extremely short story now.
End result all the way to the Ombudsmans office, still no explanation for this error after a year of trying to sort this mess out.
What happened to me, off work due to stress, depresion, anxiety, suicide councilling, lost my house to a tricky lawyer after I sold it, he took over on a power of sale with trumped up legal fees to deliberately create a short fall.
Whole lot more to this story, but now I’m forced to file for bankruptcy.
The best part, this has happenned more than once.
The lawyer I had to help me so I could sell my home, tells me 2 other women, exact same thing and same 2nd mtge holder.
Where was the bank when the messed up my accounts and mortgage, blaming me.
When I asked 3 other banks how they felt about what happened, they were shocked and appalled by the way I was treated.
Bi-weekly payments, they failed to take out 3, no explanation as to why and I get slammed with legal fees, occupancy checks, maintenance fees, for what I don’t know, they didn’t shovel the snow.
The way I was treated was disgusting.
Is this the same bank that messed up the other 2 ladies? I don’t know, but it wouldn’t surprise me.
July 23rd, 2010 at 8:26 pm
I have been with TD for 35yrs, just visited my local branch in Calgary for a simple transaction which they totally screwed up. As I sat waiting for an attendant I noticed about 30+ employees,none were Caucasian and that included the bank manager who told me to leave because I told them they needed to amend a transaction form and their service was very poor. BTW I am colored, but the 3rd world employees working there just sucks…time for a new bank.