RBC basically stole all of my money today
I know most people don't need this warning at all...however there may be some divorced people out there that might need this.
Basically, I'm divorced. Haven't lived with or near my ex for 5/6 years. We had a business once upon a time. He put my name on it, even though I didn't want my name on it. I was never involved with the business What I didn't know is that he took out thousands of dollars in loans under my name and the business's name (he often tricked me into signing documents not telling me what they were, but I suspect he forged some as well). I found out a year or so after we separated. By then, he had ruined my credit - I was a stay at home parent and he was the 'financial guy'. I trusted him to pay our stuff. He didn't and totally bankrupted us, and I found out about all of it around the same time I found out he was cheating and had been for years...
Over the years I've had some calls and letters about outstanding business loans , but once I explain my situation (single parent of 4, full time student, living under the poverty line), most places left me alone. And anyway my ex had been paying them down as he was able (business is long since gone...gone since we split). I've been getting my degree, getting a job, rebuilding my credit (and my life).
Anyhow, there was 1 loan left. He managed to pay off all the other ones with the sale of our marital home. I thought they had all been paid off. But no, there was one left with RBC and today they just completely drained my account to pay for it.
Everything I had, all of my savings and checking.
Thankfully my ex will put the money back, he feels bad. He has been making payments but not as much as they wanted.
Just a warning - don't bank in the same place that you have outstanding loans, even if they are business loans. I've spoken with many RBC people over the years about these issues and I was promised they would never do this. They lied. I know legally they could do it, but I really didn't think they would given how many people I've talked to about this.
Apparently RBC is okay with stealing money out of this single mom's account.
= new reply since forum marked as read
Last edited Sat Jul 18, 2015, 06:47 PM - Edit history (1)
Edit to add.
If the RBC did it once, they can do it again. I'd open a different account at bank that he had no dealings with. I had a business account with them before, but purposely conducted my personal banking at another bank. When I had debt troubles, quite frequently I'd find my account frozen, and once cleaned out by them too. If your ex is taking care of paying you back then hopefully its just an inconvenience. Still I'd talk to a lawyer about any possible options you may have, or even options your ex has. The former company should really apply to be struck from the register of corporations, and officially closed down, and/or if its still unmanageable perhaps debt restructuring, or bankruptcy considered.
I hope you get through this ok, these surprises in life are totally unfair.
Check your PM's 
And oh yeah, yes my ex has just finished all that with regards to the company - he thought he had to keep it open while it had debt but he recently did contact a lawyer and accountant and has shut it down. The maddening part is he has paid it down quite a bit (cut in half over the last year), but recently missed a payment, so RBC decided they want it all at once.