Conflicts are most satisfactorily resolved when they are handled quickly and at the source. In circumstances comparable to this case, what might the parties do to prevent the problem from escalating?
For RBC Financial Group:
Ensure clients understand that the Bank is required to report to credit bureaus all debts left unpaid, partially paid or settled in full after being written off. Other than correcting a reporting error or adding a note to indicate the debt was settled, the Bank cannot alter a client's credit record.
For the client:
Make sure you understand or ask about the consequences of overdue or unpaid loans. Review your credit record to ensure it accurately reflects your credit repayment history.
Please note: The above case study was chosen because of the significance of the learning derived from it. It is not an attempt to duplicate the demographics of the case by issue, outcome, RBC Financial Group or any other factors.
Photograph does not depict actual customer.
