Describe your Debt Load! - Alberta Student Loan Mystery

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Alberta Student Loan Mystery

Printed From: CanadaStudentDebt.ca
Category: Other Topics
Forum Name: Describe your Debt Load!
Forum Description: Post stories of your debt and how it affects you and your family
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=2264
Printed Date: 26/March/2026 at 10:30pm
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Topic: Alberta Student Loan Mystery

Posted By: jsean34
Subject: Alberta Student Loan Mystery
Date Posted: 22/February/2005 at 5:18pm

I'm starting a new topic, since I don't think I'll get many replies if I
continue under a previous post. Anyways, I've been dealing with
CBCL over an Alberta Student Loan. Under advice from some replies
I received, I requested documentation from CBCL indicating the
original loan amount, who held it, etc. They faxed me those
documents. I have letterhead from the Alberta Treasury Tax and
Revenue Administration Crown Debt Collections. On this statement
it indicates an original debt amount of $4715, incurred on Nov. 01
of 1996. This letter indicates that there is still $1041.72 owing plus
interest, and the last transaction is dated Nov. of 1997. On another
page with the heading, Students Finance Board Supplemental Debtor
Information, it indicates all the original certificate loan amounts,
dates taken out, bank information (CIBC), Principal claimed, and in a
separate columm - Claim for Loss - which I guess is the amount
turned over to collections.

THE MYSTERY:

I have contacted the CIBC National Student Centre to inquire about
my Alberta Student Loan. According to them - my loan is up to date
and in good standing. I told them about this Alberta Crown Debt
that CBCL is trying to collect from me. I asked if it's possible there
were any other loans that they didn't have record of, and she
(Yasmeen) was very sure that there was just the one loan amount.
So...I am at a loss in terms of how to pursue this, and would
appreciate any information anybody may have to give me. How do I
validate that I do in fact owe this money - especially if CIBC doesn't
have record of it and they were the original lenders?

In talking with Tyler Kreiser of Total Credit Recovery (handling my
federal loan collection - up to date and in good standing), he
indicated that if this provincial crown debt is that old, that it is now
statutes barred. I'm still not entirely sure of what that means exactly
- but something to do with them not being able to legally pursue the
collection of this money, and the black marking of my credit rating.
I wouldn't mind some more clear explanations about this STATS
BARRED thing.

Thanks for being here.

Replies:

Posted By: momof2
Date Posted: 23/February/2005 at 10:33am

stats barred

sigh. after six years with no activity - ie payment or written acknowledgement of the debt, the debt is no longer legally enforceable unless you reset the clock by acknowledging the debt in writing or making a volunatry payment. i'm not sure how it works wrt your credit rating - it should have fallen off tht as well since it would stay on for 7 years.

johnny probably knows the nitty gritty of how to tackle this one...

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professionals built the titanic but amateurs built the ark...

Posted By: masy
Date Posted: 23/February/2005 at 12:51pm

Do you have a letter from CIBC Student Loan Centre stating that your account with them is fine and in good standing? If not, get one, don't just go by what Yasmeen told you. Nothing against Yasmeen, but the Student Loan Centre is FAMOUS for losing information on people's files and making file errors, etc.

I don't know much about Stat's Barred, but the previous post has explained it the way others on the post have, but Johnny would know for sure.