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Old Stewdent
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Joined: 22/April/2008
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Topic: Can you help? Posted: 22/April/2008 at 2:01pm |
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I received a letter a while back from SFS saying my name was on a "federal restricted list" with regards to old prov. and fed. loans, before they consolidated. Does anyone have any information regarding this list?
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SolveStudentDebt
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Joined: 05/November/2003
Location: Canada
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Posted: 22/April/2008 at 11:43pm |
What is SFS?
Did you borrow student loans a long time ago and go into default?
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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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Old Stewdent
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Posted: 23/April/2008 at 2:21am |
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SFS- student financial services and yes the loans did go into default. I am/was dealing with ARC, NORDON and CCC collection agencies. These loans happened 10 years ago-I didn't graduate - went back to school 2 years ago. I applied for another loan ( I know, dumb of me) and that is when I received the letter. I don't know if this helps you but thanks for replying!
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SolveStudentDebt
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Joined: 05/November/2003
Location: Canada
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Posted: 23/April/2008 at 7:15am |
This means that you have old loans unpaid and you cannot receive any more until the old are addressed.
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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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Old Stewdent
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Posted: 28/April/2008 at 5:08am |
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Yes I do understand, that if not paying them off I won't receive any more funding. But do you have any more information on this particular "restricted list"? If not, it is O.K., since I already know: my credit is shot, could be sued, all incoming $ is theirs',etc. etc.
But it would be nice to somehow scratch my name off this list in the future. Thanks
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SolveStudentDebt
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Joined: 05/November/2003
Location: Canada
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Posted: 29/April/2008 at 8:15am |
Anyone who is on this list stays on this list until old debt is paid. There is no limitation period for this "restricted list". Your data is entered onto it and if you ever reapply for kmore funding, you will be denied until the old is paid. I know about this list you are talking about and there is not much else to it other than what has already been said.
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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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thundercat
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Joined: 09/March/2008
Location: Canada
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Posted: 29/April/2008 at 11:14pm |
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I am on this list as well and have made several attempts to find out what I could do about returning to school. I was told about the rehab program designed to allow students a chance to return to school. However, there is no info as a student about what they can and can't do. I was simply told "make 6 straight payments, then you can get a loan again". I thought.. GREAT things are looking up.
Then attempting to negotiate with NCO, they said yes theres this program, nobody told me what minimum payments had to be or anything, I get put on a payment schedule that was basically half my pay cheque for 6 months and their reasoning was "to catch up on previous interest". I had to take a 2nd job just to do this.
6th payment passes, I'm like GREAT!! start school, buy my books cash and start school. Apply for OSAP, denied. Call to see why, NCO didn't process my rehab situation. Call them up, apparently I was supposed to keep paying these high retarded payment plan until the govt approved taking the loan back. What was funny was, I was on auto-payments (closed that account in case) so they stopped taking the money and explained it was their fault not mine.
They refused to process it, fix it, and attempted to start another payment plan. I still debate whether I should drive to Edmonton and pay a visit to good ol Wendy of NCO.
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SolveStudentDebt
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Joined: 05/November/2003
Location: Canada
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Posted: 30/April/2008 at 11:58pm |
Example of system failure.
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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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