Royal Bank Frustration Stories - student loan and credit report

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student loan and credit report

Printed From: CanadaStudentDebt.ca
Category: Dealing with the Banks!
Forum Name: Royal Bank Frustration Stories
Forum Description: Tell us about the Royal Bank treatment
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=4358
Printed Date: 27/March/2026 at 2:02am
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: student loan and credit report

Posted By: ozie
Subject: student loan and credit report
Date Posted: 11/July/2007 at 8:39am

i have not paid student loan for 3yrs and finally did one payment this year and also did my report (credit report check)

guess what: all the bank accounts were closed and paid) of course there were no details but i was very happy.

now my report says i have indeed a good credit. I am little skeptic. i do think banks are that forgiving.

anyhow, my last payment from this year was causing a lot of problems becasue nobody at the bank knew where my accounts were. is not this strange? and finally they told me it was written off!

but of course they kept the payment.

now what do i do?

should i wait two more years and declare bankrupcty? wait for them to chase me and make a payment plan with them?

my credit says i am good but what the f**k does that mean?

it says all teh accounts were closed and paid ...I am not sure how that got on there. I paid in full all the govt accounts but not this one.

has anyone ever had this sort of problem. i mean i could have buy a condo with this rating yet..i am not relaxing!

so what will happen. now that i made a payment are they gonna open the account and come after me and make me miserable or would they be happy i made a payment and wait for it?

Replies:

Posted By: Dunker
Date Posted: 11/July/2007 at 12:27pm

I think that one possibility is to call contact CRA National Collection Services @ 866-336-7565 as Johnny mentioned in an earlier post, and ask them if you have an outstanding balance owed to the Crown. Playing cat and mouse with the debt collectors can ultimately backfire. What you want to find out is who you owe money to. You don't want to declare bankruptcy without knowing the real truth about your debts: exatly what you owe and to who. The 10 year rule does not automatically entitle you to discharging the student debt if it is determined that you are financially able to pay up.