This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities have been forced to cancel programs and layoff hundreds if not thousands of full-time and contract instructors.

Again, the Liberal government has messed up the education environment.


  New Posts New Posts RSS Feed - Credit report says rbs sl paid and closed
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedCredit report says rbs sl paid and closed

 Post Reply Post Reply
Author
Teagansmom View Drop Down
Newbie
Newbie


Joined: 12/September/2012
Location: Ontario
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote Teagansmom Quote  Post ReplyReply Direct Link To This Post Topic: Credit report says rbs sl paid and closed
    Posted: 12/September/2012 at 1:17pm
Hi, I was wondering if anyone else has had a similar situation. I recently got a call from a guy from a collection agency saying I owed RBC 12000 on a student loan. I told him I paid my student loan. For tha past yrs my income tax was applied to my sl and I recently contacted cra and have made arrangement to pay the balance of $800. I have no clue where this is coming from.

My loans are from 97-99. I just ordered my credit report and on the Tu it states that there are 8 RBC loans and they are all paid and closed. If anyone can tell me what is going on it would be greatly appreciated.

How can this collection agency try to collect on a loan that says paid and that is old. I also called TU today to ask why this is still on my report and they said it stays on for 20 yrs since it has a good impact on my credit. There are also hard and soft pulls from credit agency's.

Thanks in advance
Back to Top
Sponsored Links


Back to Top
tkarmy View Drop Down
Newbie
Newbie


Joined: 04/March/2005
Points: 32
Post Options Post Options   Thanks (0) Thanks(0)   Quote tkarmy Quote  Post ReplyReply Direct Link To This Post Posted: 13/September/2012 at 6:37am

i could be wrong... and Johnny can likely shed more light on it BUT...

CRA likely took over a portion of your RBC loans (gov't guaranteed portion) so that is why it says your loan is paid on your TU report. The same thing happened to me. RBC is probably trying to go after you for the unguaranteed portion you still owe them.
 
They made a complete mess of things with the transfer over from the banks to the gov't loans... At one point I had 6 different loans in different places and when I couldn't pay... 4-6 different collectors calling me. i probably still have a loan out there somewhere that isn't paid off entirely collecting interest. Luckily the statues have run out, I have all the credit I need and won't be paying anyone anything... call it the cost of implementing a completely useless system
Back to Top
Teagansmom View Drop Down
Newbie
Newbie


Joined: 12/September/2012
Location: Ontario
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote Teagansmom Quote  Post ReplyReply Direct Link To This Post Posted: 14/September/2012 at 12:40am
Thx for the reply tkarmy,

On three of the 8 loans on my TU report it says closed, paid as agreed. On the other 5 it just says paid. I know I never paid off any other loans besides to Ontario government. So does this mean they can come after me all these years later? And how? How will this affect my credit in the future?

Thx
Back to Top
Teagansmom View Drop Down
Newbie
Newbie


Joined: 12/September/2012
Location: Ontario
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote Teagansmom Quote  Post ReplyReply Direct Link To This Post Posted: 14/September/2012 at 12:57am
Sorry another question, if RBC is trying to collect on an unguarenteed loan would this not be considered a personal loan? Is there a sol on this loan? Also how come all these loans on my report are listed only on my credit history, there are no collection accounts and no public information listed on the report.
If the loans were transferred back to the gov why would it list it as being paid. Sorry for all the questions.   
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.