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repheat136
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Joined: 06/June/2013
Location: Canada
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Topic: Garnished tax resetting the last day of activity? Posted: 17/October/2014 at 11:42am |
Hi guys,
In July of this year, a Rev Service of BC account (student loan) was removed from my equifax report as the statute of limitation had been reached. As the result of that, my credit score went up by 70 points. I was shocked to find my score plummeted to 633 when I pulled up the equifax report last month. It turns out that the REVSERVBC account was back up again. The date of last activity was changed to Apr/2011.
I called REVSERVBC and they told me the garnishment of tax return in Apr/2011 reset the limitation period. Does involuntary garnishment count as acknowledgement of the loan?
I contacted EQUIFAX to launch an investigation, but they told me they can't do anything. She kept saying that they only report the information they receive from the creditors. Since REVSERVBC sent them this information, they must report the account.
I am about to purchase a condo and the bad credit score will affect my mortgage rate.
Is there anything I can do to dispute the account?
Thanks!
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SolveStudentDebt
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Joined: 05/November/2003
Location: Canada
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Posted: 19/October/2014 at 6:53am |
Revenue Services of BC takes the position that a tax rebate seizure is an admission. However, it is the only province that does. In fact, BC Revenue is not the government. Rev Services of BC is actually Hewlett Packard, a private company charged with collecting BC loans.
The federal and every other provincial government does not rule an involuntary payment as such and admission. The BC government does nothing about the "misinterpretation" by their third-party, which is to be expected. The one argument that they will present is that if a tax rebate is taken and the borrower does not kick up a fuss, complain, or oppose it in a reasonable amount of time, this is admission of liability, of which is complete rubbish. Governments and their hired third-parties such as this one consider themselves impervious to laws that would otherwise restrict them. If the government is taking this position it could very well be a form of abuse of public office and misfeasance, not to mention a violation of a person;'s legal and human rights.
Ironically enough, the office of the attorney general in BC has completely ignored a request for investigation and transparency concerning this issue. I find this rather bizarre and unethical on her part.
The problem for Hewlett Packard is that they are a private company. Someone could very well sue and charge them. The government would likely be shielded and HP would be left to clean it up.
Every person in BC, or who owes BC Student Aid, and who is a victim of this could launch a class action suit against Hewlett Packard and BC Student Aid I would think.
Best,
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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
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repheat136
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Posted: 20/October/2014 at 12:21pm |
So I guess there is nothing to be done other than paying off the debt? It's unfair that they can get away with this.
Thanks for clearing that up.
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SolveStudentDebt
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Posted: 21/October/2014 at 11:02am |
It's unfair and it requires money to fight. I fight for borrowers but it all depends on the case. If it is hardship then it is less of a fight really. We have great lawyers and connections, but in the end it all comes down to dollars and cents. The system looks for ways to make it so that you cannot fight them, financially.
The first thing you need to establish is if you have a case for a limitation issue and then go from there. Then, if there is and they continue to violate the law then it is a great investment to make in a litigation case. I think it is a very good class action suit.
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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
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repheat136
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Posted: 28/October/2014 at 8:24am |
Since I need to repair my beacon score asap, I think I should just pay it off. Will my beacon score go up within a few months after paying the loan off? My mortgage broker told me my score could go up fairly quickly if I pay off the loan.
Also, would it make a difference on my score if I negotiated with Revservice BC for a lesser amount?
Thank you so much for helping me out Johnny.
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SolveStudentDebt
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Posted: 29/October/2014 at 7:05am |
As long as the remark is still on your report it will still have a negative affect on it. However, if you can pay it without any trouble then you should anyway.
Negotiating with RSBC is difficult but it depends on the case. Each is different.
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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
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