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Paying More Interest to COIP

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Submitted by Anonymous (not verified) on 4 April 2013 - 4:44pm

I've received a letter from COIP that says I owe them more interest on my debt.   I've also read the ALERTS here and my agent says I should settle my debt using the Justice Pharma program.   So I called PanAggretate financial and the Rep told me they would settle my debt for me and that I should not trust a company from Cyprus.   They also said they would settle my debt for free while the Justice people make commissions.

Do any other members have a suggestion on what I should do?    I don't want to pay more than I need to ,but I sure don't like being in debt so much.  I sure would appreciate any advice.

Thanks

Bart

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Canadian Organization for International Philanthropy

Submitted by Arthur (not verified) on 5 April 2013 - 5:04pm

Hi Bart,

I think you should not trust the Rep who says they will pay your loan for free. Here are my suggestions:

1. Ask the COIP rep to put everything in writing to you. Have them include the promise to settle your loan at no cost to you.
2. Ask the COIP rep how much "commission" they made on the original sales of their loans. I know for a fact that the commissions were huge, probably triple anything you might imagine. Everything COIP/PanAggregate does is commission based.
3. Ask the COIP rep to put in writing everything they will do for free. Does it include packaging, warehousing, delivery , certificates of analysis, legal and accounting fees, etc, etc... Will they have all these documents available for audit by the CRA?

I think if you ask these questions, you will see that the COIP/PanAggregate solution will not be forthcoming and is not feasible. Why would they do this for you for free when they can make more money from you by charging more interest? That part they have put in writing, not only to you, but to countless others.

And one last very important thing to consider. The real money in all of this comes from the tax credit. It is your tax credit and you want to keep it. If COIP or PanAggregate or anyone associated with them tries to pay your debt for you, espcially for free, you will lose your tax credit and owe the refund back to the taxman. Your debt must be settled by you and independently or at arms length from the promoter.

So I think your decision is actually quite simple when you look at the facts.

Hope this helps. Anybody else have any comments?
Art

Submitted by Frank (not verified) on 7 April 2013 - 4:20pm

It's very simple guys, we cannot trust COIP to do anything now, after all these years. We have to pay our own debts independently. The guys here have found the solution for us. Look at the news items posted

Frank

Submitted by caso41 (not verified) on 6 May 2013 - 2:05pm

Did any of you conctact or use Justice Pharma/Trading program to settle your loan with COIP/MFL
I wnat to know the procedure if any

Thx
Carlos S

Submitted by David (not verified) on 12 May 2013 - 4:38pm

Hello Carlos,

Yes, I have settled my debt with Relief Lending Group 2008 and am now settling my debt with COIP and MLF.   All years from 2008 to 2012.  The Justice Pharma program is what I used and it's a lot more than just buying pills.  They provide the full legal, delivery, certification, and everything else I need to be able to prove that I have settled my debts.    

If you use the contact us form on this website,  and ask for information about settling your debt with Justice,  they will put you in touch with a Justice rep in your area.

Submitted by claudeplt (not verified) on 14 May 2013 - 7:34am

Hi David,

Is The Justice Pharma program safe and how does it work.
For COIP and Relief Lending Group.

Would like to settle my debt soon.

Thanks

Submitted by David (not verified) on 14 May 2013 - 8:22am

Hi Claude,

The Justice program works for COIP, Relief Lending Group, Mission Life, and Pharma Gift International.   The paperwork is extensive, but it is all handled by the lawyer in Ottawa and the Justice agent.   I will try to put you in touch with a Justice affiliate in your area to help you.   It is the best program availablet to settle the debts and keep the original tax credits.   That tax credit part was my top priority.   That's why I didn't choose the COIP/PanAggregate/SunRX/Integrated Receivables group.   They are all in bed together and the CRA has seen through that.

David