I received my last student loan in 1995. I defaulted on my student loans and they went to collection agencies in 1997. Since then I have been paying monthly to two collection agencies, one for the federal and one for the provincial loan. I received a letter from a collection agency about three months ago claiming that I still owed about $4000 from Royal Bank. I investigated with Royal Bank and found that the amount that went to the initial collection agency was the secured amount from the federal government and the new amount was the unsecured portion. I questioned them as to why I hadn't received any prior warning about this, and they claimed that had sent letters to my previous address in 1996.

My question is do I have to pay this? Over eight years has elapsed since I received this student loan. I also feel that Royal Bank just had to look at my credit report to get a current address or phone number to contact me at any point during the last eight years. When my loans first went to collection in 1997 I thought that it was the total amount of student loans that I owed, and had no knowledge of this mystery $4000. I am dodging the collection agency responsible and not agreeing to pay anything and telling them that I am investigating the matter. Any help?

eshelton wrote: Some belated help: It is uncollectable after 6 years, but because you may have acknowledged it, that may have been reset.  I'd talk to a lawyer about this - lawyers fees will not be that big compared to $4K.

Hi all!.I'm new to the forum and i  have a question:

What constitutes aknowledgement?.

Thanks

LPQLP

 An acknowledgment of liability means:

 a. a written promise to pay the money owing, signed by the borrower or his or her agent or other representative;

 b. a written acknowledgment of the money owing, signed by the borrower or his or her agent or other representative, whether or not a promise to pay can be implied from it and whether or not it contains a refusal to pay;

 c. a part payment by the borrower or his or her agent or other representative of any money owing; or

 d. any acknowledgment of the money owing made by the borrower, his or her agent or other representative or the trustee or administrator in the course of proceedings under the Bankruptcy and Insolvency Act or any other legislation dealing with the payment of debts.

 This is the description (ver batum) from the act.

 You can review the act at: http://www.parl.gc.ca/37/2/parlbus/chambus/house/bills/government/C-28/C-28_3/90218b-2E.html#19 - http://www.parl.gc.ca/37/2/parlbus/chambus/house/bills/gover nment/C-28/C-28_3/90218b-2E.html#19

 Note: You should also examine "Acknowledgment after the fact (after the expiry of the limitation period). You will find this in section 16.1 - Item 5  and Section 16.2 - Item 7 if I recall correctly.

 Johnny

Thank you for the reply .

LPMQLP