| Author |
Topic Search Topic Options
|
zaydmajoka
Newbie
Joined: 24/March/2007
Points: 3
|
Post Options
Thanks(0)
Quote Reply
Topic: defualting while working as a volunteer Posted: 24/March/2007 at 11:25am |
|
Hi, since leaving uni (2006) I have been working as a volunteer with Medecins Sans Frontieres (MSF). Initially I applied for interest relief and I was granted it for 6 months renewable to a maximum of one year. I could not contact OSAP or NSLSC during my various missions to renew or find out more information. Recently I got a statement in mail from NSLSC showing: 1) opening balance on 1 jan 06 2) laond forwarded to HRDC, and 3) closing balance of 0.00 (all principal and interest forwarded to HRDC).
QUESTIONS: 1) I am not sure what it means if my loans are forwarded to HRDC. 2) I want to re-apply for loans to start uni again in september but I cannot do so because according to OSAP website I am defaulting. What can I do to apply for more loans to cover for further education?
|
 |
|
Sponsored Links
|
|
 |
katkat
Groupie
Joined: 06/August/2006
Points: 68
|
Post Options
Thanks(0)
Quote Reply
Posted: 25/March/2007 at 2:28am |
|
I have a very similar problem. They told me several times that it has to be paid in full or at least a large chunk of it
|
 |
SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
|
Post Options
Thanks(0)
Quote Reply
Posted: 25/March/2007 at 11:15am |
Unfortunately, all of this means that your student loan is in default and the government now has carriage of the account. It is in collection.
Johnny
|
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
|
 |
zaydmajoka
Newbie
Joined: 24/March/2007
Points: 3
|
Post Options
Thanks(0)
Quote Reply
Posted: 26/March/2007 at 8:10am |
|
Thanks, good to have things clear. Now is it at all possible to apply for more student loans while in default? How do I clear this default status? Cheers
|
 |
katkat
Groupie
Joined: 06/August/2006
Points: 68
|
Post Options
Thanks(0)
Quote Reply
Posted: 26/March/2007 at 12:35pm |
|
Well, I dont know if thsi is the general rule, I am no expert, but when I applied for another loan while in default, they told me it had to be paid in full, not even 1 penny owing. it may be different for someone else, I dont know
|
 |
frustrated-guy
Groupie
Joined: 10/May/2004
Points: 212
|
Post Options
Thanks(0)
Quote Reply
Posted: 27/March/2007 at 3:33am |
|
I am not an expert either (contact Johnny he is), but it is my understanding to undefault the loan you need to convince the original lender to take back the loan from the government. I gather this is nearly impossible.
|
 |
SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
|
Post Options
Thanks(0)
Quote Reply
Posted: 27/March/2007 at 7:54am |
The government may require either:
1) loans be brought up to date, or;
2) payment in full for the defaulted loan(s)
before issuing any new funding.
Johnny
|
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
|
 |
zaydmajoka
Newbie
Joined: 24/March/2007
Points: 3
|
Post Options
Thanks(0)
Quote Reply
Posted: 29/March/2007 at 4:32pm |
Thanks a million esp. to Johnny.
Now who and how do I contact to get my loans up-to-date. I have the toll free 1800 numbers but these can only be reached from within north america.
Cheers
|
 |