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Shopmymortgage,

The debt I had with Scotiabank was for a visa card. The debt was over $10,000 and they settled it for 10%.The debt was with Natale Law Offices, and they had to get the approval from Scotiabank.

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Most of the banks are willing to help with financial hardships whatever they may be. No bank wants to own a house...that is not what they are there for.
If something happens (and it will and does) such as a job loss, death in the family, disability on the job or something else, call the bank right away.

Most banks have plans where you can skip a payment, increase the length of an amoritization or perhaps even refinance into a lower rate.

If and when it happens talk to the bank immediately (whichever one it is) and let them know.

Whatever happens one of the most important things would be to maintain your credit so that you don't wreck that.

Victor

I like Scotiabank for the simple fact; when I was facing a financial hardship, they were one of the banks that understood, and were easy to deal with when it came to settling my debt.

Hey everyone,

I see some people are unhappy with Scotiabank. But please, can you state why you are unhappy. Just saying "I'm very unhappy with the bank" is not very useful to anyone.

The way I judge Canadian banks is when you have a financial hardship. The worst bank out there when you’re facing a financial hardship is Royal Bank. I have nothing bad to say about the other major banks.

I too have amortgage through Scotia Bank and am extreamly unhappy with their service.

I've never dealt with Scotiabank, however I have a friend of mine who is extremely unhappy with their service.

I bank with Scotiabank and have for a while. The only issue I have is when I go into the branch to conduct banking for the company I work for (who also bank with Scotiabank). And that's at the teller end actually. Used to be just one teller, but after I tore into my company's account manager about it, it stopped.

Stuff like, she had to verify my boss' signature on a cheque written to Receiver General to pay the payroll taxes and acting in general like I was trying to defraud the company that way or something. She did the same thing when I came in with a cheque for the company's Visa Line of Credit as well. Oh, and her supervisor at that branch (the main one) actually called me once after I went in to pay the payroll taxes and told me they couldn't honour the cheque as there wasn't enough money in the account...to which I pointed out to her it was a MMS, which she didn't understand. So I gave her our account manager's name and phone number and told her to ask him what it was, as I was very busy trying to meet a strict deadline for a proposal and didn't have time to explain what she should already know.

She's still the Commercial Banking supervisor btw. Twit.

Other than that, I rather like banking with Scotiabank on the personal end of things.