Collection of Old - Stats Barred - Loans

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Printed From: CanadaStudentDebt.ca
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=6010
Printed Date: 27/March/2026 at 2:17am
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: Help

Posted By: lately
Subject: Help
Date Posted: 04/January/2011 at 11:44am

In Sept of 1998 I took out an osap loan to attend school, which i didnt complete and left a few months in..... I didnt pay the loan back at all, in fact i returned to the bank about two years later to make arrangements to pay it, and the bank manager couldnt find it in the system. She printed me a blank page and said there was nothing but not to worry once i do my income taxes the government will call me. ARC finally contacted me..... in November of 2009 to start paying it back.... Since I at the time was on maternity leave I didnt make very much i made arrangments to pay back between 25 and 75 a month.... Now I make even less then when i was on mat leave, i am paying approx 25 a month..... My question is what the heck should i do at this rate its gonna take me the rest of my life to pay it.... and i will probably still owe money after that! Any suggestions....... Arc calls me a billion times a month "to make sure i will make my payment" the one time i couldnt make it on time i had at least six calls a day and she was screaming at any one who would answer the phone..... Something about auditing me..... I kept telling her i dont even know what it means and she just kept screaming at me..... I need this over with..... or a solution something.... anything! please help

Replies:

Posted By: lately
Date Posted: 26/September/2011 at 5:15am

Me again, I am still dealing with same loan, I have been making payments of 30 dollars a month. They still call me often, with messages of " return my call or else" which i rarely ever do, and I do tell them " you were calling to verify my payments which i did make, so why call back for the same thing over and over" this month I made my payment of 30.00 which was due today. ( monday) I paid it Thursday through online banking as usual. Today I get a call saying the " didnt get it, my account is due in full" I called back and let them know I had paid it, and I checked my account, it was sent, and I dont know why they didnt get it yet but they should have it soon"

Arc: I believe you but I didnt get it

me: I understand but its on the way

Arc: well call your bank

me: for what i already did, its on the way

arc: your account is late and due in full

me: my payment is on the way

arc: just get my client thier money

me: I would love to but I have four dollars in my account and its not gonna help

arc: stop yelling at me

me:..um... im not yelling

arc: well....(long pause) we cant both talk at once

me:um..... i wasnt talking

arc: stop yelling at me

me: um..... I didnt

arc: just go get our money

me: I dont have any

arc: call your family and friends get them to pay it

me: I dont have a rich family or friends

arc: well someone has to pay it we arent waiting any longer its due now

me: well can you loan me the money

arc: ( now yelling) DO I SOUND LIKE YOUR FRIEND?

me: well you call me enough, so maybe

arc: Your account is due in full 3200 dollars pay it

and hangs up on me.

I assume a supervisor was near thats why he was saying "stop yelling" which i wasnt I had my 18 month old daughter on my lap..... So what am I suppose to do. my payment is on the way in transition as my bank says.... This is getting ridiculous.

Posted By: SolveStudentDebt
Date Posted: 26/September/2011 at 7:20am

Ok. This is a common thing. Collectors are simply ddoing what they are ordered to do by their superiors. The anxiety you are experiencing over this is tremendous and I totally understand. The problem is that this collector wants something you cannot give and he or she actually knows that. This is the corporate and political disposition of all collection agencies remember.

What you have transcribed here is a customized version of a common script that all collection agencies use to train their collectors. The collector combined different scripted responses here to your objection to his or her demand for money, and included something that is called "probing for money sources". This is a script that collectors follow when they are "hitting" someone for the first time.

The most dangerous aspect of dealing with certain collection agencies is their ability to use the legal system to serve their own best interests. A lot of collectors and management with the industry have the ability to insert their own agendas and sue people who they want to rather who is deserving of that sort of treatment.

Look, if you wanty me to mediate thisd to a sdolution for you so you don't have to go through that sort of thing again i am willing to helpy ou. Mediation services to solve what you are describing cost less than $250.00.

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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: lately
Date Posted: 26/September/2011 at 2:59pm

I am not sure what you mean by mediate, to be honest I dont understand much about financial things. If you can offer some extra info on what that is I would appreciate that!And thanks for getting back to me so quick

Posted By: SolveStudentDebt
Date Posted: 26/September/2011 at 5:09pm

Mediate means I will become involved with you and this little problem of yours and makes things right for you. :)

-------------
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: lately
Date Posted: 05/October/2011 at 4:50am

Just another note I am not sure what this is..... when the creditor first called me I asked for a letter stating my debt which they sent me it says principal assigned 4652.94 interest 0 nsf 0.... last year I asked for another account statement ( which i understood was my right) and when they sent i noticed some numbers that didnt seem right, I called and told them they had made mistakes and i wanted them fixed or i wouldnt make my paymenst till i recieveed another letter with it corrected. Three months later someone else finally called to ask why i hadnt made payments I went through the hole thing again with someone knew. Which of course started an arguement cuz apparently there mistake made me irresponsible. Finally a fw weeks later I recieved a letter with different numbers on it completely.Wouldnt you know it I lost my original letter... I called and told them I had lost the original and since I had lost it and couldnt verify that I had sent four months worth of payments to them that morning. Ironically enough I found my original letter last night, and a new account statemnet arrived this morning....( which i didnt ask for) anyways now I can compare them.....

on 12/15/2008 my statement was

principal assigned $4652.94 interest assigned 0 nsf 0 balance owing 4652.94

the letter i recieved today says

principal assigned $4052.94 ( 600 less than the original)

nsf 0

interest 0

balance owing 3562.94

the principal amount is different by 600 dollars and apparently I have only paid 500 dolllars since 2008. Which is ridiculous. What the hell is going on.... and I cant get a straight answer out of the company for the life of me. I am really thinking of going to my m.p. this is getting way out of hand. I have bank records that show my payments totally way more than 500 dollars, and I have been told by multiple people that I have no interest on this debt. My original loan was just under 5000. And in the ten years I didnt pay it if there was interest I would owe way more than what I do..... so there is no interest what the hell is going on!