I would fax the release letters once you get them to Trans union and Equifax. The updating process will not take long.

thanks everyone for your help. I called CRS today and spoke with a manager, and she informed me the letter has been sent and I should reicve it within a week. She also said CIBC has been informed and that I should bring my letter of release when I go to apply for credit, because it could take a while for TU and Equifax to update my file... Hopefully I don't have too much trouble. Thanks again.

CIBC sells debt?? Maybe really really old paper but when they say it isn't in their hands anymore it usually means the agency is collecting on behalf of them.

They are one of the most strict banks on collection agencies. Everything must be documented and saved just in case the PIPEDA request comes. They even have a rule agencies must record all phone calls. T

When you stated CIBC informed you that the account was no longer in their hands, first find out if the debt was sold off to CRS. If so, then CRS are going to be the ones who will be responsible for furnishing you with that letter.

Also, if you fail to get anywhere with CIBC's management, ask whoever you are speaking with for the name of their Privacy Officer, along with that person's fax number. You are entitled to receive a copy of this letter, so if you need to play hard ball, we'll teach you how to do it using the powers found within the Personal Information Protection and Electronic Documents Act (PIPEDA)... You'll either hit CRS or CIBC up for a copy of all the information they have on file for you - maybe even both of them?!!? Let's see if they want to play nice, first, ok..

A summary of PIPEDA can be found here:
http://www.priv.gc.ca/information/02_05_d_08_e.cfm

For the the full act:
http://laws.justice.gc.ca/en/ShowFullDoc/cs/P-8.6///en

It's bed time, so I'll have to hold off on any in depth detail tonight. Fill us in on your results tomorrow (uhh. guess that's later today) and we'll go from there.

I would suggest speaking to a supervisor or manager and tell them why you need the release letter right away. They should be able to send out without delay and than call back in a few days to ensure the letter has been sent out.

I have a few friends that work for CIBC and if you are unable to obtain a release from the agency. Contact CIBC and advise them you have paid and the agency is refusing to send a letter to you that your account has been paid in full.

With regards to credit I had one deliquent account that went into collections and was unable to obtain credit even though it was paid in full on my credit bureau. I actually had to obtain a secured credit card and than was able to get my car loan 3 months after of paying my credit card on time.

Sweet you are going to have a problem as long as it shows up on your credit file and somethings like cell bill and utility bills do not report so that will not help your credit rating. I suggest you get ahold of CR and ask them to fax the letter to both credit bureaus so that it will be reviewed it usually takes about 14 to update. I suggest you get them to put on it attention urgent review.

really? three months! i don't have that kind of time! why so long? i don't have a fax number either, my work does, but I don't really want that to go to my work...well thank you, i am going to call them, that is if i actually get in touch with someone

Did you state to crs that you want the letter faxed or mailed to you? If it's going to be by mail, it can take up to three months. I would try and contact crs again and request to have your letter faxed to you.

like a month ago and yes i did, but like i said CRS said they were going to send me a letter which im waiting for and they also said oh you should be great after this...and I called CIBC at first and they said the account was no longer in their hands...

How long ago was this? Did you keep the proof of payment just in case you need to show Cibc?