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.
QuoteReplyTopic: Loan shell game, income tax lien and stats barred Posted: 29/August/2013 at 1:01am
Hello,
I've been trying to get my financial situation in order in 2013. I hadn't filed taxes in a while and I had defaulted loans (both CSL and OSL). My taxes are up to date now and my tax return credits have been used to pay towards my student loans. I had expected this.
I had already been making payments to HRDC CRA for 3 separate loans (CDN-ON, CSL1 and CSL4). I hadn't been dealing with the Ontario loans, largely because I didn't know where they were and who I was supposed to be dealing with. Like many of you I got my loans under several iterations of the loan system. It hasn't made it easy to keep a clear picture of my situation.
I got my first loan in 1995 and continued until about 2001-2002. I was on Interest Relief for the duration after I left school and then ended up in default while I was trying to apply for DDR (also like many of you, I got caught in the NSLSC paperwork warp zone, fell through the cracks and ended up in default despite being eligible for DDR, which they won't consider you for if you are in default).
Several of my Canadian loans were with HRDC but there were also several with RBC (I think these are Risk-Shared). A chunk of these RBC loans were originally with BofM but got transferred to RBC when BofM stopped handling student loans in the late 90s. At some point, RBC bundled all of the Canadian loans into one big one. I have never dealt with this loan in any capacity. According to my most recent credit report, it is "Written-off".
RBC also used to have an Ontario student loan. I'm not sure when this was from but I imagine it's probably pre-2000 era. I never dealt with it either but, unlike the Canadian loan with RBC, it does not appear on my credit report at all. Not sure what became of it.
Getting back to the tax refunds, the credited funds were split between my CSL and OSL. I saw this reflected on the HRDC statements and what I owe them has been significantly reduced as a result. I wasn't sure where the OSL payments were going but I was eager to find out.
I'm currently on EI. Although I don't have a lot of money to spare at the moment, I wanted try to get my accounts current. So, I called Ontario's "Collection Management Unit" to find out who I had to deal with for my Ontario loans. I was told to contact NCO Financial Systems and that they held the only OSL account in their records. It's worth noting, that since filing my taxes, I'd been getting calls from CSV Collections and NCO Financial Systems (but I make a habit of not answering these).
I called NCO and asked them how much I owed. I was surprised to hear that it was less than $2000. I asked if this was because they had received payments from CRA? They said no. No previous payments were on record. I delved further and learnt that this particular loan had never been very large and had only changed as interest was added. I made arrangements to pay off the balance and closed that account.
Now, to my knowledge, I have the remaining loan with HRDC (just the CSL4 now after the tax refund allocation) and whatever loans I have at RBC (which I understand may be stats barred). Which begs the question, where was the OSL CRA was sending the tax refunds to cover?
A letter I got from CRV Collections (turns out they are collecting for RBC now that they think I have money — which sadly I don't) mentions just one loan and an overdraft debt (from when they took loan payments out of an empty account).
So, where was CRA sending this tax money? And how can I find out?
The thing is, now that I'm unemployed, I'm reluctant to compromise the potential stats barred status on whatever loans RBC i holding. I think making inquiries about the tax refund payments either to RBC or the NSLSC could do this.
I'm also not all that clear on how the whole stats barred situation works. So, if someone could clarify for me how that works practically, I'd be grateful.
This loan thing continues to be a real swamp. Every time I think I'm getting a handle on it and am simplifying things, the system adds a new level of complication I don't know how to negotiate.
I don't want to have a lien on my tax returns that goes towards a loan I can't identify. But I'm afraid to dig into it for fear that it could overturn the one relief I have at the moment in the potential stats barred status of my RBC loans.
These are the current pressing questions I could use help answering:
(1) What OSL loan did my tax go towards if the one OSL loan that the Collections Management Unit had on record didn't get it?
(2) How can I find out where it went?
(3) How can I find out who has a lien on my tax refunds?
(4) How can I cut through the smoke and mirrors and find out exactly who and how much I still owe?
(5) How do I do this without messing up the potentially stat barred loans?
(6) Is my Canadian loan at RBC stats barred?
(7) If RBC still has an Ontario loan, is it possible that it's stats barred?
(8) What do I have to do to maintain the stats barred status if they are?
(9) What are the real world implications of having stats barred loans?
(10) Given that I about to run out EI and will probably have to resort to some sort of social assistance, is it possible to have my stats barred loans discharged (is poverty, unemployment, and unrelenting debt sufficient hardship?) and if so, what's the process?
I've been trying to get my financial situation in order in 2013. I hadn't filed taxes in a while and I had defaulted loans (both CSL and OSL). My taxes are up to date now and my tax return credits have been used to pay towards my student loans. I had expected this.
I had already been making payments to HRDC CRA for 3 separate loans (CDN-ON, CSL1 and CSL4). I hadn't been dealing with the Ontario loans, largely because I didn't know where they were and who I was supposed to be dealing with. Like many of you I got my loans under several iterations of the loan system. It hasn't made it easy to keep a clear picture of my situation.
I got my first loan in 1995 and continued until about 2001-2002. I was on Interest Relief for the duration after I left school and then ended up in default while I was trying to apply for DDR (also like many of you, I got caught in the NSLSC paperwork warp zone, fell through the cracks and ended up in default despite being eligible for DDR, which they won't consider you for if you are in default).
Several of my Canadian loans were with HRDC but there were also several with RBC (I think these are Risk-Shared). A chunk of these RBC loans were originally with BofM but got transferred to RBC when BofM stopped handling student loans in the late 90s. At some point, RBC bundled all of the Canadian loans into one big one. I have never dealt with this loan in any capacity. According to my most recent credit report, it is "Written-off".
RBC also used to have an Ontario student loan. I'm not sure when this was from but I imagine it's probably pre-2000 era. I never dealt with it either but, unlike the Canadian loan with RBC, it does not appear on my credit report at all. Not sure what became of it.
Getting back to the tax refunds, the credited funds were split between my CSL and OSL. I saw this reflected on the HRDC statements and what I owe them has been significantly reduced as a result. I wasn't sure where the OSL payments were going but I was eager to find out.
I'm currently on EI. Although I don't have a lot of money to spare at the moment, I wanted try to get my accounts current. So, I called Ontario's "Collection Management Unit" to find out who I had to deal with for my Ontario loans. I was told to contact NCO Financial Systems and that they held the only OSL account in their records. It's worth noting, that since filing my taxes, I'd been getting calls from CSV Collections and NCO Financial Systems (but I make a habit of not answering these).
I called NCO and asked them how much I owed. I was surprised to hear that it was less than $2000. I asked if this was because they had received payments from CRA? They said no. No previous payments were on record. I delved further and learnt that this particular loan had never been very large and had only changed as interest was added. I made arrangements to pay off the balance and closed that account.
Now, to my knowledge, I have the remaining loan with HRDC (just the CSL4 now after the tax refund allocation) and whatever loans I have at RBC (which I understand may be stats barred). Which begs the question, where was the OSL CRA was sending the tax refunds to cover?
A letter I got from CRV Collections (turns out they are collecting for RBC now that they think I have money — which sadly I don't) mentions just one loan and an overdraft debt (from when they took loan payments out of an empty account).
So, where was CRA sending this tax money? And how can I find out?
The thing is, now that I'm unemployed, I'm reluctant to compromise the potential stats barred status on whatever loans RBC i holding. I think making inquiries about the tax refund payments either to RBC or the NSLSC could do this.
I'm also not all that clear on how the whole stats barred situation works. So, if someone could clarify for me how that works practically, I'd be grateful.
This loan thing continues to be a real swamp. Every time I think I'm getting a handle on it and am simplifying things, the system adds a new level of complication I don't know how to negotiate.
I don't want to have a lien on my tax returns that goes towards a loan I can't identify. But I'm afraid to dig into it for fear that it could overturn the one relief I have at the moment in the potential stats barred status of my RBC loans.
These are the current pressing questions I could use help answering:
(1) What OSL loan did my tax go towards if the one OSL loan that the Collections Management Unit had on record didn't get it?
(2) How can I find out where it went?
(3) How can I find out who has a lien on my tax refunds?
(4) How can I cut through the smoke and mirrors and find out exactly who and how much I still owe?
(5) How do I do this without messing up the potentially stat barred loans?
(6) Is my Canadian loan at RBC stats barred?
(7) If RBC still has an Ontario loan, is it possible that it's stats barred?
(8) What do I have to do to maintain the stats barred status if they are?
(9) What are the real world implications of having stats barred loans?
(10) Given that I about to run out EI and will probably have to resort to some sort of social assistance, is it possible to have my stats barred loans discharged (is poverty, unemployment, and unrelenting debt sufficient hardship?) and if so, what's the process?
Thank you in advance for any advice or help.
nilblank wrote:
(1) What OSL loan did my tax go towards if the one OSL loan that the Collections Management Unit had on record didn't get it?
THE CDA-ON one if there was no amount applied to the original OSL from their federal set-off program.
nilblank wrote:
(2) How can I find out where it went?
You can request a payment activity report from Ontario's collection management Unit in Sudbury and that will show all payments made, both voluntary and involuntary). Be careful how you write it though because there would be a limitation issue with the old Ontario loan. You can contract us (The CFW Group) to do this for you if you prefer.
nilblank wrote:
(3) How can I find out who has a lien on my tax refunds?
You can contact Canada Revenue Agency tax center to find out if there is a lien in place for the federal shares. For Ontario, you would have to contact the federal set-off program with the Ministry of Training Colleges & Universities. THe CMU can give you their contact information.
Do NOT write to them requesting it. Call them and take notes.
nilblank wrote:
(4) How can I cut through the smoke and mirrors and find out exactly who and how much I still owe?
Canada Revenue Agency non-tax office is where you will get your federal loan amounts. The Ontario CMU is responsible for the Ontario loan information. However, they will refer you to the collection agency. It is hard for borrowers to cut through.
nilblank wrote:
(5) How do I do this without messing up the potentially stat barred loans
VERY CAREFULLY. Contract THe CFW Group to do this for you if you do not know how.
nilblank wrote:
(6) Is my Canadian loan at RBC stats barred?
It would be nice to say "yes". However, there is no way to know for sure until a limitation discovery is completed. THe CFW Group does this work for student loan borrowers at very reasonable rates. There are things behind the scenes that could have happened to suspend, reset, or disrupt limitation issues. Each case has it's own story.
nilblank wrote:
(7) If RBC still has an Ontario loan, is it possible that it's stats barred?
RBC has no jurisdiction in respect of liening income tax or GST rebates. Only the federal and provincial governments do for government guaranteed or funded loans. No amounts of any rebate are applied to it.
nilblank wrote:
(8) What do I have to do to maintain the stats barred status if they are?
The first thing you need to know is IF one or any number of them are in fact barred. There are many factors that come into play with limitation issues, and safeguards can be implemented in each case.
nilblank wrote:
(9) What are the real world implications of having stats barred loans?
Very good question. It all depends on you and your intentions I guess. If you are in hardship and cannot repay them then limitations are an opportunity and benefit. If you are able to pay, have benefitted from the education, and there is no hardship in place, and there is no reason why you cannot pay them, then limitations should not be an issue. You should repay them.
The student loan system in Canada is, for the most part, broken. People are identified as frustraters of the system who do not "want to" pay. But it also tags that same identity on everyone in default - even if the system is responsible for your hardship in the first place. Credit reporting in Canada and the U.S. also creates an identity crisis because of it's lack of understanding and ability to properly grade people. These broken systems and problematic methodologies and protocols are a human problem. So this is more of a real world problem.
nilblank wrote:
(10) Given that I about to run out EI and will probably have to resort to some sort of social assistance, is it possible to have my stats barred loans discharged (is poverty, unemployment, and unrelenting debt sufficient hardship?) and if so, what's the process?
Anything is possible. However, if there is no limitation issue, then the next best thing to do would be to demonstrate hardship to see what sort of benefits you can jiggle open. However, one period of unemployment will not do the job. You have to demonstrate hardship past and current - and future in some cases whereas disability is in play. We provide these services to people and hardship is something that has to be assessed first to see if there is a case.
Hope this helps!
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.
First, let me thank you for so thoroughly addressing my questions. Very much appreciated.
Following up on your answers:
Johnny wrote:
nilblank wrote:
(1) What OSL loan did my tax go towards if the one OSL loan that the Collections Management Unit had on record didn't get it?
THE CDA-ON one if there was no amount applied to the original OSL from their federal set-off program.
I would have assumed you'd be right but my records show otherwise. The amounts identified by Revenu Canada as having been doled out to CSL were applied to the CDON (I just re-confirmed this with CRA collections). The amounts identified as going to "Ontario Student Assistance" ($3499.73, $1993.05, and $1834.73, plus some smaller GST and Trillium amounts) did not end up on the CDON that CRA is overseeing. Nor did it go towards the OSL that NCO were handling on behalf of the CMU.
So, that's over $7000 still unaccounted for. And of course, I'm afraid to start knocking on doors for fear that I'll inadvertently reactivate something inactive, or suchlike.
Johnny wrote:
nilblank wrote:
(2) How can I find out where it went?
You can request a payment activity report from Ontario's collection management Unit in Sudbury and that will show all payments made, both voluntary and involuntary). Be careful how you write it though because there would be a limitation issue with the old Ontario loan. You can contract us (The CFW Group) to do this for you if you prefer.
I think contracting you might be the best way to go. It feels a bit like a minefield. Can I contact you directly about this? What is the process? And how much should I expect to pay for CFW assistance?
Johnny wrote:
nilblank wrote:
(3) How can I find out who has a lien on my tax refunds?
You can contact Canada Revenue Agency tax center to find out if there is a lien in place for the federal shares. For Ontario, you would have to contact the federal set-off program with the Ministry of Training Colleges & Universities. The CMU can give you their contact information.
Do NOT write to them requesting it. Call them and take notes.
I called the CRA tax centre and was told that there are two liens on my account:
1. ONSA (also identified as Ministry of Training Colleges and University Ontario Student Assistance). Contact number 1-877-221-2285.
2. CSL (who I know to be HRDC/CRA). Contact number 1-866-336-7565.
So, my confusion stands.
The CSL part is not an issue. I have a relationship with these guys and know where the money went—no issue there. But the ONSA part has me baffled.
When I called the CMU, they said the only debt they had on record was the OSL being collected by NCO. NCO insists they never received any payments on this loans and the balance never exceeded $1901.51 the entire time they have managed it (NB - though it was a stretch to do it, I paid NCO in full yesterday and the CMU should be informed of the zero balance status tomorrow morning).
So, the question remains. Where did the $7000+ allocated to "Ontarion Student Assistance" actually go? And how do I find out?
Johnny wrote:
nilblank wrote:
(4) How can I cut through the smoke and mirrors and find out exactly who and how much I still owe?
Canada Revenue Agency non-tax office is where you will get your federal loan amounts. The Ontario CMU is responsible for the Ontario loan information. However, they will refer you to the collection agency. It is hard for borrowers to cut through.
It is definitely not a system designed for transparency. A paranoid person would suspect a deliberate effort to achieve the opposite, certainly.
As it stands, I think I know everything about the CSL being managed by HRDC. It is currently in good standing. And between the tax refund allocations and the payments I made while employed, there's not that much left to pay off.
The OSL that NCO was handling should now be dealt with. And, within the required business-day delay period, that account should soon register as paid and closed.
The old loans held by RBC are a different matter. I'm not sure if they only have an old CSL or if they have an old OSL they are no longer referencing (they used to certainly). My Equifax records only mention the CSL, and the letter from CSV Collections only mentions the one loan (although the balances differ by about $10K, which could be accrued interest, or a bundling of loans I suppose). The amount owed is daunting and although I've been managing to make good on my other loans, this one seems daunting. Being refused access to DDR because of a paperwork snafu,means that it has not been reduced in any way.
As to the mysterious OSL where my tax refunds have been diverted, I have no clue where this is or who is getting my money. Certainly, CMU doesn't seem to know. So ...?
Johnny wrote:
nilblank wrote:
(5) How do I do this without messing up the potentially stat barred loans
VERY CAREFULLY. Contract THe CFW Group to do this for you if you do not know how.
As noted earlier, let me know how to get started with CFW. I'm happy to have expert support on these issues and to get some clarity in my situation as soon as possible.
Johnny wrote:
nilblank wrote:
(6) Is my Canadian loan at RBC stats barred?
It would be nice to say "yes". However, there is no way to know for sure until a limitation discovery is completed. THe CFW Group does this work for student loan borrowers at very reasonable rates. There are things behind the scenes that could have happened to suspend, reset, or disrupt limitation issues. Each case has it's own story.
Understood. Let's get started.
Johnny wrote:
RBC has no jurisdiction in respect of liening income tax or GST rebates. Only the federal and provincial governments do for government guaranteed or funded loans. No amounts of any rebate are applied to it.
That is good to hear. But then I still need to find out where that money actually went. I guess this is something you can help me with at CFW?
Johnny wrote:
nilblank wrote:
(8) What do I have to do to maintain the stats barred status if they are?
The first thing you need to know is IF one or any number of them are in fact barred. There are many factors that come into play with limitation issues, and safeguards can be implemented in each case.
And this is something you can help me clarify and deal with at CFW. Yes?
Johnny wrote:
nilblank wrote:
(9) What are the real world implications of having stats barred loans?
Very good question. It all depends on you and your intentions I guess. If you are in hardship and cannot repay them then limitations are an opportunity and benefit. If you are able to pay, have benefitted from the education, and there is no hardship in place, and there is no reason why you cannot pay them, then limitations should not be an issue. You should repay them.
The student loan system in Canada is, for the most part, broken. People are identified as frustraters of the system who do not "want to" pay. But it also tags that same identity on everyone in default - even if the system is responsible for your hardship in the first place. Credit reporting in Canada and the U.S. also creates an identity crisis because of it's lack of understanding and ability to properly grade people. These broken systems and problematic methodologies and protocols are a human problem. So this is more of a real world problem.
I guess I was probably frustrating the system at one point (though not necessarily deliberately) but over the last year or so I have definitely shown my willingness to pay back what I can. Between arranged payments and tax refund transfers, I've paid down quite a chunk of what I owed. But I'm reaching the limits of my abilities in that regard. Hence my interest in understanding and perhaps benefitting from the stats barred dynamic.
If I have a stats barred loan at RBC (for the sake of the hypothetical, let's say its of the Risk Shared variety), does that debt remain on my credit report until it is either paid or discharged because of hardship? And, what does that mean to my credit standing as I go on (somewhat) normally with my life otherwise? Can credit scores be rehabilitated with a stats barred loans in the mix?
Does RBC have any recourse to going after tax refunds, wage garnishment, suing or what-have-you? Or does the stats barred status give them no agency in this regard?
Also, is there a way to stop collection calls without messing with the stats barred status?
Johnny wrote:
nilblank wrote:
(10) Given that I about to run out EI and will probably have to resort to some sort of social assistance, is it possible to have my stats barred loans discharged (is poverty, unemployment, and unrelenting debt sufficient hardship?) and if so, what's the process?
Anything is possible. However, if there is no limitation issue, then the next best thing to do would be to demonstrate hardship to see what sort of benefits you can jiggle open. However, one period of unemployment will not do the job. You have to demonstrate hardship past and current - and future in some cases whereas disability is in play. We provide these services to people and hardship is something that has to be assessed first to see if there is a case.
So, the first step is to determine which, if any, of my loans are stats barred. Then to establish a continuity of hardship. And also to identify where the OSL portion of the tax lien has been going to verify that it is all above board and not being allocated by mistake—all without compromising any existing stats barred status on outstanding loans.
Incidentally, my unemployment isn't an isolated period. Rather the period of employment was isolated. I have been unemployed or under-employed for most of my working life. I've had one good job that lasted 3 years (now over). The rest has been struggling to survive on sporadic contracts and various types of low-paying self-employment.
I would have assumed you'd be right but my records show otherwise. The amounts identified by Revenu Canada as having been doled out to CSL were applied to the CDON (I just re-confirmed this with CRA collections). The amounts identified as going to "Ontario Student Assistance" ($3499.73, $1993.05, and $1834.73, plus some smaller GST and Trillium amounts) did not end up on the CDON that CRA is overseeing. Nor did it go towards the OSL that NCO were handling on behalf of the CMU.
So, that's over $7000 still unaccounted for. And of course, I'm afraid to start knocking on doors for fear that I'll inadvertently reactivate something inactive, or suchlike.?
You have a CSL1 too though. The feds are responsible for the collection of those, as well as CSL2 put-back, and 3's and 4's too.
Now if CRA states that those three amounts were dispersed to the Ontario government, and the Ontario government received them but did not apply them to your debt, then that is a huge issue that needs to be looked at. You would have to communicate with the federal set-off program and ask them to provide you with a statement showing set-off amounts received and applied to the OSL. If they say none have been received then you have to call CRA to launch a forensic investigation. Get something from the federal tax center that substantiates what you were told about those 3 payments first.
Remember what I said. The system is broken because the student loan sector in Canada has become a for-profit business. When a system like this causes serious problems for student loan borrowers like the past and current, it is a broken system. Broken systems earn the Canadian and Provincial governments a lot of money. Broken for borrowers, highly successful for the governments and banks and third-parties who are in bed with these governments.
nilblank wrote:
I think contracting you might be the best way to go. It feels a bit like a minefield. Can I contact you directly about this? What is the process? And how much should I expect to pay for CFW assistance?
Assessment and analysis is very inexpensive ($99.00 tax included). This will help uncover opportunities, benefits, value, and strength of case in a few areas that I think you need covered. It will also cover the design and implementation of a scope of work should you want mediation and/or full intervention assistance. Cost varies depending on the scope of work and I can;t give you a quote until I know all of what needs to be done.
Organization and a plan of action must come first in cases like yours. Some of it you may be able to do on your own and one of us can direct you. Other things are something you need to have someone like me or one of my team to do for you.
nilblank wrote:
I called the CRA tax centre and was told that there are two liens on my account:
1. ONSA (also identified as Ministry of Training Colleges and University Ontario Student Assistance). Contact number 1-877-221-2285.
2. CSL (who I know to be HRDC/CRA). Contact number 1-866-336-7565.
So, my confusion stands.
The CSL part is not an issue. I have a relationship with these guys and know where the money went—no issue there. But the ONSA part has me baffled.
When I called the CMU, they said the only debt they had on record was the OSL being collected by NCO. NCO insists they never received any payments on this loans and the balance never exceeded $1901.51 the entire time they have managed it (NB - though it was a stretch to do it, I paid NCO in full yesterday and the CMU should be informed of the zero balance status tomorrow morning).
So, the question remains. Where did the $7000+ allocated to "Ontarion Student Assistance" actually go? And how do I find out?
If CRA stated that it went to the MTCU (Care of OSAP) then you need to have proof that it was sent. CRA's DARS system can spit that out easy enough. All you have to do is request it, or FOIPA. But for GAWDSAKE don't write anything to any party concerning the debt unless you exactly what to say to prevent a limitation survival from occurring.
If the ON MTCU is saying that no money was ever applied by way of set-off then someone is fibbing to you, or has stolen money.
nilblank wrote:
That is good to hear. But then I still need to find out where that money actually went. I guess this is something you can help me with at CFW?
Yes. I can navigate you or do it for you. We can discuss that in the assessment and analysis phase.
nilblank wrote:
(
Johnny wrote:
nilblank wrote:
(8) What do I have to do to maintain the stats barred status if they are
The first thing you need to know is IF one or any number of them are in fact barred. There are many factors that come into play with limitation issues, and safeguards can be implemented in each case.
And this is something you can help me clarify and deal with at CFW. Yes??
Yes, absolutely.
nilblank wrote:
If I have a stats barred loan at RBC (for the sake of the hypothetical, let's say its of the Risk Shared variety), does that debt remain on my credit report until it is either paid or discharged because of hardship? And, what does that mean to my credit standing as I go on (somewhat) normally with my life otherwise? Can credit scores be rehabilitated with a stats barred loans in the mix?
If a limitation exam and discovery comes back positive we address the bank and any third-party agency first, then the reporting bodies. There are strict rules for credit reporting groups like Equifax and Trans Union, and limitation issues have to be brought to their attention. The result will be banning the reporting of it now - or in the future.
[QUOTE=nilblank]Does RBC have any recourse to going after tax refunds, wage garnishment, suing or what-have-you? Or does the stats barred status give them no agency in this regard?
RBC has no authority or privilege in respect of collection by way of income tax liens. Once barred and it is called out then no legal action can be taken, and with the proper safeguards that we implement, you are protected from any further communication. The bank and collection agencies always say they can call you anytime they want. However, the safeguards that I and one of my beloved lawyers set up certainly can and will cause them some legal trouble if they do, considering it would fall under the criminal code of Canada should they violate you after such safeguards are put in place.
I will help you out. Let's set up an assessment so I can do some analysis and put things into an organized scope of work that I would need to do, and also the things that you can do on your own that will save time and costs. I like to work this way. You can email me from www.cfwgroup.ca on the contaxt page. Just make sure you identify yourself by your name here and the site, as well as contact information so I can call you.
Best!
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.
I will help you out. Let's set up an assessment so I can do some analysis and put things into an organized scope of work that I would need to do, and also the things that you can do on your own that will save time and costs. I like to work this way. You can email me from www.cfwgroup.ca on the contact page. Just make sure you identify yourself by your name here and the site, as well as contact information so I can call you.
Done.
I filled out the contact message at CFW and titled it "Continuing conversation with Johnny from canadastudentdebt.ca".
I included my username (nilblank) and the title of this thread in the message area.
If I don't answer when you call initially it may be because I don't recognize the number. It's a habit I've developed to avoid talking to collection agencies. If you just leave a message I can call back or at least be able to associate you with the number for the next time you call.
Thanks again. I look forward to speaking with you.
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Loan shell game, income tax lien and stats barred
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nilblank wrote: