Help Please!
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URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=6626
Printed Date: 27/March/2026 at 5:41am
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Topic: Help Please!
Posted By: sloopydunbar
Subject: Help Please!
Date Posted: 24/February/2013 at 3:52am
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I graduated from school in 2002 and have been paying off my student loans ever since. Each month I have been paying 3 separate payments: Federal gov't, Provincial gov't (I'm from Ontario) and RBC. I checked my Equifax report in December and it says I have less than 5k left on my student loan. About a week ago, I started getting calls from a collection agency (ARO). They called me at work and sent me a letter saying that I owe $22,000 for an RBC student loan. I called RBC and they told me that I had paid my provincial RBC loan but not my federal and to call some 1-888 number to find out the details. I am so scared to call. I don't have 22k and I don't want to admit to owing this money because I am not sure how that's even possible. I've already paid over 30k in student loans and had many thousands of dollars forgiven when I initially started paying it off. Can someone PLEASE advise me on what I should do?? When I graduated from school, I was in a bad situation and quite neglectful of my finances, but the one thing I knew I had to do was pay my student loans. I am guessing that in my bad situation, I somehow completely neglected an RBC federal loan? That is the only thing I can think of. What would happen if I continued to ignore the collection agency's calls? Could they sue me, garnish my wages, take me to court, etc? It has been more than 6 years. Do statute of limitations apply to RBC federal student loans? I have a great credit report from Equifax and am so confused because it says the only debt I have is about 5k from my student loans! Someone please help! I'm freaking out! Thanks in advance
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Replies:
Posted By: administrator
Date Posted: 24/February/2013 at 8:21am
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This is a common problem. The 2002 loan if it has never been acknowledged might actually be statute barred since they havent tried to collect it for 10 years. It is likely that you would have 4 loans... this was common at the time. Some people even had six. The collection agency is not to call you at work. I would suggest a cease and desist letter to the them to stop and file a complaint. RBC hires a number of different collection agencies all of whom are difficult to work with. They will try to collect even if the loan is statute barred. They always threaten to sue, but rarely do. Best option is to talk to John Leblanc at CFW Group to see if that 2002 RBC federal loan is stats barred and how to proceed. He can determine if the loan is stats barred or not. He charges a small fee to do this but it might be worth it. ------------- Administrator Mark OMeara Author of Let Go and Heal: Recovery from Emotional Pain https://LaughSingWrite.com - http://bit.ly/heal2024 |
Posted By: SolveStudentDebt
Date Posted: 25/February/2013 at 4:30am
It was nice talking with you Sloopy. Things will work out ok for you.  I see the big picture for you, and based on your long-term needs and goals things should pan out pretty good for you. Talk to you later today. Johnny ------------- Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com |