Best course of action in my case?
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Category: Immediate Attention and Info!
Forum Name: Collection of Old - Stats Barred - Loans
Forum Description: Post questions about old loans and Statute of Limitations Issues
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=6414
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Topic: Best course of action in my case?
Posted By: Sharkboy
Subject: Best course of action in my case?
Date Posted: 17/April/2012 at 4:28am
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My loans came from all kinds of different places. I have
Canada and BC loans through Scotiabank taken out in 1995, 1996, 97, and
98 (I believe, it's been a long time). I also have a Canada and BC
loan taken out in 1994 through TD Canada Trust that was transferred to and assumed by Scotiabank in the
fall of 2005. Here's a brief timeline off the top of my head. Sorry for lack of anything concrete... I simply have no documents to base any of this on after over a decade: Last date of study: April 19th, 1999 7-year mark (not yet in effect): April 19th, 2006 10-year mark: April 19th, 2009 Date of bankruptcy: September 26th, 2006 (before 7-year change came into force) Discharge date: July 6th, 2007 Date 10-year to 7-year change is put into force - July 7th, 2007 I have absolutely zero idea as to who the creditors are for these debts at this time, as there's been so many changes to the system back and forth over the last 17 years, and I'm afraid that if I try to contact people to find out and get them all lined up I'll red-flag myself for more harassment (up until now it's been pretty peaceful), which I'm pretty sure the bankruptcy did for me anyway, although I'm not if KPMG even made note of the loans when I filed because it was common knowledge that they wouldn't be able to be included at the time. From what I know, it was Scotiabank that was trying to contact me back in 2003, but I've not heard from them since that year. The only indication I get that I even have any kind of student debt is from the federal government, once a year, in the form of a letter stating that they're going to retain my tax return to cover an outstanding debt... I'm not even sure if it's the entire debt, or simply the federal portion of it. There's nothing on my credit history about the loans, either. Pardon me if any of this is difficult to understand in any way. Please feel free to ask for further clarification if needed, I'll do my best to fill in blanks even though much of the situation is blank for me at this point, too. My main question is: What is my absolute best course of action at this point to collect specifics as to the whereabouts of ALL my outstanding SL debt, regardless of debtor/provincial/federal/bank risk/government/wherever and really ensure I can completely kill it off? |
Replies:
Posted By: SolveStudentDebt
Date Posted: 18/April/2012 at 5:57am
That part is simple. You have three loans:
1) Scotiabank risk-shared with the possibility of a third-party private collection agency handling it
2) BC Student Student loan with BC Revenue Services handling the debt
3) CSL1 with CRA collection services handling that one
You should contact your trustee and ask them if/when they issued their notice of discharge to one or any number of the student loan providers cited above. My main question is: What is my absolute best course of action at this point to collect specifics as to the whereabouts of ALL my outstanding SL debt, regardless of debtor/provincial/federal/bank risk/government/wherever and really ensure I can completely kill it off?
There are 3 things you can do here:
1) Start calling these groups up and ask them the questions you ned to in order to find the answers.
2) Hire a professional who is able to safeguard while working on your behalf
3) Do nothing
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 |
Sharkboy wrote:Posted By: Sharkboy
Date Posted: 18/April/2012 at 8:00am
| Do you have a link to your website or an e-mail so we can discuss this further? What you do exactly to track all of this down, fees for various options, etc. I would be more than willing to make use of your services if it means a tangible and permanent conclusion to all of this. Thanks for your time. :) |
Posted By: SolveStudentDebt
Date Posted: 18/April/2012 at 10:33am
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You can gp tp http://www.cfwgroup.ca" rel="nofollow - www.cfwgroup.ca and click on the contact us link to request assistance. Someone will get back to you to set up a file. ------------- 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 |
Posted By: Sharkboy
Date Posted: 19/April/2012 at 4:51am
Wouldn't common sense dictate that if my loans were statute-barred I wouldn't be receiving outstanding debt notices from CRA and forfeiting my income tax returns because collection on a statute-barred debt is not permitted? If this is the case then my loans are definitely not statute-barred, but probably will be sometime in 2013-14.
I have tried this... nobody who had anything directly to do with my bankruptcy even works at KPMG anymore, and all of my attempts at contacting anyone at KPMG, at all, in the last 6 months about my situation haven't been responded to.
No, thank you. Will not risk resetting the clock.
You have been contacted. However it is not my wish to incur redundant fees. If I'm already pretty sure my loans are not statute-barred, I'm not interested in paying $250 to obtain information as to whether or not they are or are not, etc. I have 5 kids that can use that money. What I'm looking for is the best course of action for eliminating this black mark on my life as quickly and effectively as possible so I can move forward and plan a future for my family.
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Posted By: SolveStudentDebt
Date Posted: 19/April/2012 at 6:19am
That doesn't mean it is statute barred. That is more guessing and assumption based on a very minor issue.
That is typical of bankruptcy trustees. Their job is done. You are bankrupt. Nothing else matters to them.
Talking to them won't disprupt any limitations that could be in place.
Did you expect me to invest a crazy number of hours of my time working this out for you for free when I have expenses that need to be paid also? [/quote] After 13 years, It's time to not do nothing. Thanks for all of your helpful responses[/QUOTE]
You can go with a section 178 application but if if fails then the limitation issue (regardless of how near or far away it is) will be reset the moment you file it. The options laid out for you are pretty obvious. However, you need to make the right choice in any event because the wrong one will make things worse.
Best of luck. I really hope that you find some remedy here.
------------- 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 |
Posted By: SolveStudentDebt
Date Posted: 19/April/2012 at 6:21am
The quotes in the repsonse were all buggered up by the site somehow. I was quoting shark not myself. Anyway, Ha.  ------------- 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 |
Posted By: Sharkboy
Date Posted: 19/April/2012 at 6:42am
Not at all, and I am talking to you privately now about procuring your services and paying whatever fees may be required. I'm just saying that at the end of the day... I suppose I don't care if the loans are statue-barred or not. A loan is still in existence regardless of this condition, my goal is to wipe it (or them) from existence entirely, so I don't wish to spend money determining whether or not they are statute-barred when I'm already pretty sure they're not because of the bankruptcy I declared in 2006 and was discharged from in 2007. Anyway this is being continued via email... thanks for getting back to me so quickly! :)
I always enter the bbscript manually. ;) |
Posted By: SolveStudentDebt
Date Posted: 19/April/2012 at 8:40am
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I got them all ass backwards. ------------- 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 |