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BigMama
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Joined: 24/June/2005
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Topic: Very Old Loan Posted: 24/June/2005 at 9:34am |
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Hi people,
I just happened upon this message board thru
google. I received a call today from a place called collect corp,
unsure of what the heck it was about until I used my trusty search
engine.
I had a student loan about 19 years ago. I
claimed bankruptcy about 12 years ago, mostly because of the harassing
phone calls from the collection agency for the loan. (I was
raising two kids, only working part-time and they weren't happy with
the $50 dollars a month I was sending). Anyway I haven't actually
talked to anyone there yet, but after visiting here I'm sure it must be
about this student loan. A loan that I am absolved of through the
magical powers of bankruptcy and the horrible things it did to my
credit. Does anyone have any thoughts on this? Oh, and by
the way, I negotiated my loan at CIBC who I see mentioned at this forum
a lot.
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administrator
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Joined: 25/January/2003
Points: 1798
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Posted: 24/June/2005 at 11:14am |
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If you declared bankruptcy 12 years ago, and the loan was included in your bankruptcy, then the loan should have been discharged.
HRDC and others have had a habit of ignoring the rules on pre 1998 discharged student loans. (laws changed in 1998 but that does not affect your discharge.
It might also be an ontario "reassessement" that they are trying to collect on which they apparently have no right to do. Be careful that you "don't acknowledge the debt" Search under "stats barred" and also the "OSAP repayment forums"
Your best bet would be to contact your old trustee or talk to Johnny at CFWGroup.
Mark
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BigMama
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Joined: 24/June/2005
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Posted: 24/June/2005 at 3:17pm |
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Thank you for the info, I'll be sure to cover all my bases.
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Joan
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Joined: 18/October/2005
Location: Canada
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Posted: 18/October/2005 at 2:43pm |
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Hello
I just found out about your site in our local newspaper. I don't have the student loan, my son does. It has gotten to the point with him where he is being treated for depression by our family doctor. I am not sure of exact dates but his student loan is 10+ years old. He has paid on it when he was financially able but he is not right now because he is not financially able. They have called other family members and said demeaning things about my son and has even left "nasty" messages on his sister's answering machine for him. $15,000 is the amount they want in lump sum. If he had that amount he would be making his payments. Can you declare bankruptcy? I'm worried about his well being.
Edited by Joan
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administrator
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Joined: 25/January/2003
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Posted: 18/October/2005 at 10:37pm |
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I would suggest you contact John Leblanc at CFWGroup.ca
The loan might be "stats barred" if there has been no payments or acknowledgement of the debt for over 6 years. I would refrain from corresponding with the collectors until you talk to John.
If it is not stats barred, then John can intervene with the collectors... There is a fee, but its worthwhile.
Could you let me know what newspaper the website was featured in?
Thanks
Mark
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Posted: 19/October/2005 at 3:13am |
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To declare bankruptcy on a student loan, the student must have not been a part-time or full-time student for 10 years.
If your son took a part-time course the clock would have been reset.
If he has not been a part-time or full-time student, regardless of whether he took out loans, then the loan could be discharged.
There have been many cases reported on this site of collectors still coming after people despite the discharge of the loan through bankruptcy, even though the government has no right to do so.
As mentioned above, the loan might also be stats barred. Best to check with John at CFW Group on that one.
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