Help

I have student loans that I have defaulted on (I can't afford the payments) that are sitting in three diffrent collection agencies. I have not received one piece of paperwork on any of my loans. I have finally contaced the collection agencies holding my loans to try and find out how much I owe. I am now being threatend buy all three of them. I am trying to go back to school so I can make enough money to actually pay these off and get ahead in life and I am wondering if anyone knows what will happen with the creditors if I do this. Will they still hassell me every day and can they take me to court if I am a student?

I am also wondering if anyone knows anything about a statute of limitations on Canada and Ontario Student Loans?

Johnny, something you said in another post poses an interesting question.  You stated that the statutes are federally dicatated and thus Alberta could not 'choose' it's own timeline for the statute.  Wouldn't it pose the same scenario for Ontario?  If the federal law states that it is six years, then Ontario should be subject to the same deference, wouldn't you say?   

 

 Hi Dazed,

 There are two different statutes here: the provincial and Federal.

 The post that you are referring to is the one where i mentioned that the province cannot dictate the statutes for federal debt. The Federal Government has their own limitation parameters. Each province has their limitation parameters. For instance, if you live in Alberta, and owe a CSL, the limitation period applies to the Federal Act (CSLA and CSLFA), and not Alberta's traditional limitation parameters.

 The Federal statutes are six years. Provincial Statutes are variable, depending on the province. Ontario is saying that they have no statutes of limitations in effect. I will always question that because of the many different stories one hears from several bodies there.