Need Help Please!!

I have recently had my student loans sent to a Collection agency due to my inability to pay on time and a bit of a misunderstanding on my part. Regardless, I have had someone from Nordon calling me about, from my understanding, my Ontario Student Loan. He tells me that I owe over $4000, to be repaid in full before my credit gets destroyed. I have told him that I do not have the money to pay in full, as I am a full-time student, but he tells me that that is the only way to save my credit from, what he tell me to be, at least 7 years of brutal credit, which he says, will seriously hurt my chances of getting a house or car in the near and not so near future. He has asked me to call in the payment, borrowing money from my parents or family members credit cards.

Is this a weird way to go about it? It just seems to me, because I have not in fact received notices in the mail as he has said were sent to me, as well as the fact that I have already set up a repayment plan with the integrated Canada Ontario student loan department, that he might be trying to finagle me for some money? It seems that nowadays you can never be too careful!? I don't want to be someone who always looks for the monster under the bed but I want to be careful of the fact that anything is possible? Not to mention when I asked if there was someone else I could talk to about the situation he became very diffensive.

Is there a seperate loan other then the integrated Canada Ontario Student Loan that he may be connected with? My Dad thinks that this guy is attempting to put one over on me, but I'm not sure what to think?

Any advice..?

Chris...

You're a full time student? Did you send all confirmation of enrollment forms into whichever company has your loans? If yes, they should not be in collection. Banks and NSLSC have a nasty habit of ''losing'' forms. If this is the case, get on the phone and start harrassing them. They're screwing with your credit and you did nothing wrong.

Collection agencies have a nasty habit of claiming to send stuff and not doing it. If your loan truly is in collection, I'm pretty sure they have to send you a letter. Tell the agency that you need something in writing before you can or will do anything. Get something from whoever held the loans before the collectors as well. Hard copies are proof, a phone call from someone you don't know is not.

Bugging you to borrow from everyone and their dog is normal procedure. They're not supposed to do it, but it happens anyway. They want commission, so they want a big payment from you.

I wouldn't try to borrow that money. That's a good way to ruin relationships and friendships.

Buff