Collection of Old - Stats Barred - Loans - Limitations on Collection

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Limitations on Collection

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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=6011
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Topic: Limitations on Collection

Posted By: jim
Subject: Limitations on Collection
Date Posted: 08/January/2011 at 1:11am

PLEASE HELP

Is the Statute of Limitaions on Canada Student Loans actually 6 years? And can Justice Canada still harass and threaten you with legal action after this 6 year limit?

Replies:

Posted By: Bandawg
Date Posted: 01/September/2011 at 4:06am

hey Jim ... no response to this yet ... anyone?

Posted By: SolveStudentDebt
Date Posted: 01/September/2011 at 8:30am

Yes it is 6 years.

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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: Bandawg
Date Posted: 02/September/2011 at 1:54am

Thanks, Johnny!

Does this apply to all of Canada?

Federal and Provincial?

Sorry for the flurry of questions ... I am in the dark concerning these details :(

Posted By: SolveStudentDebt
Date Posted: 02/September/2011 at 3:22am

Federal legislation pertains to federal government matters only. Provincial matters fall under the provincial laws. so, with Canada student loans the limitation law outlined in the CSLA applies Canada wide..

Provincial limitation laws cite different limitation periods and even no limitation periods, such as the Ontario Limitations Of Actions & Proceedings whereas the ammendment was put into force in 2004, which exempts the Ontario government from any limitations that binds it from recovering money owed in respect of Ontario guaranteed student loans.

The province of Nova Scotia also exemot from any limitations in respect to guaranteed NS student loans.

Johnny

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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: Bandawg
Date Posted: 03/September/2011 at 10:51am

That's very interesting ... the federal government, last year, started sending me notifications each month of how much I owe and the interest accruing. I finished college in 2001. Is it normal for them to begin contacting me this way? And - why are they continuing to add interest to a loan that no longer exists?

Posted By: SolveStudentDebt
Date Posted: 04/September/2011 at 3:55am

The loan is archived and put out of recovery. That doesn't mean it doesn't exist. It stays on their database and restricts you fromt aking out any more student loans in the future - or int he hopes that one day you might acknowledge it.

The financial community and governments alike consider limitation issues their nemesis, of course

Posted By: Bandawg
Date Posted: 04/September/2011 at 6:44am

The interest is increasing on each notice they send, though ... if archived, is this normal?

Posted By: SolveStudentDebt
Date Posted: 05/September/2011 at 3:14pm

Yes it is. THe reason is because the government will ding you all that interest in the event you want to borrow more - or acknowledge it and cause the debt to survive current limitation issues.

Posted By: Bandawg
Date Posted: 08/September/2011 at 2:23am

Well, darn ... after they sent the first couple of notices, I called to let them know that I was on Employment Insurance, so could not pay anything at the time ... does that constitute acknowledgement acknowledgment? If so ... what happens now?

Posted By: SolveStudentDebt
Date Posted: 08/September/2011 at 7:11am

No it does not.

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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: Bandawg
Date Posted: 08/September/2011 at 12:43pm

That's a relief!

At this point, is it safe for me to ignore the monthly notices they send?

Posted By: SolveStudentDebt
Date Posted: 08/September/2011 at 1:01pm

Only if you don't want to pay it or cannot pay it. You can't assume4 a debt is statute barred. Many have done that and found out the hard way that is really wasn't.

I can help if you if you are unable to repay the debt. However, if you don't want to pay it while having the means to contribute that6 is frustrating the system and not something I or anyone in my group supports. People have to come to me for help claiming hardship but it was not the case. We terminate those cases upon discovery. There are people out there who do not have good intentions, most certainly.

Johnny

Posted By: Bandawg
Date Posted: 08/September/2011 at 1:17pm

I lived in poverty while attending college, supporting myself and my two teenage children, with no support whatsoever. I lived (?) on what I received for student loans, and a part time job at a fast food restaurant. Once I completed my courses, there were no jobs to be had in my field, and after a full year of trying, I gave up and went for whatever I could find - by this point, we were evicted from our apartment for paying the rent late too often (a pretty crappy call, to do this to a hard-working single mother, struggling to survive!). I landed a part time job, and managed to find a cheap home for myself and the kids, with my sixteen-year-old daughter working part time to help pay for our living expenses. After missing a deadline for a late payment, RBC sent my loans to collections. I claimed bankruptcy shortly after that, and I've struggled along ever since. I have become increasingly disabled, mentally and physically, so jobs are more and more limited. I've spent as much time working as I have on EI and social assistance. At 53 years old, and with my growing list of physical and mental issues, I am not likely to land a full time job that pays more than minimum wage. Once my current short-term contract is up (end of September), I hold little hope of landing a job at all, and if all goes as it has for the past ten years, I would be forced to leave anything that I was able to get within a short period of time, due to the physical/mental issues.

In other words, I am in the midst of a downward financial spiral, due to age and circumstance.
In all honesty, I'm not sure whether or not you would consider my situation one of a person who simply trying to avoid payment. If you feel that my case is legitimate, and that you would be able to help me, please advise. On the other hand ... if there are fees for your services, how would I ever be able to pay?

Posted By: SolveStudentDebt
Date Posted: 08/September/2011 at 2:08pm

I n my opinion your situation as you described can certainly be classified as hardship. It is difficult for me to make an assessment like this without knowing an individual’s situation. You have to understand my position concerning those who are of bad intentions and looking to cheat the system, and seek out help from professional groups to assist them. Some are willing to do anything for a buck, of course. The only cause for concern was when you wrote:

“At this point, is it safe for me to ignore the monthly notices they send?”

That raised concern to me simply because nothing like this should be ignored. It should be addressed and treated appropriately so that you are understood by the system – and protected. Student loan borrowers are dealing with an extremely aggressive financial and government system here. They have a lot of power and the only way to really protect yourself is to deal with it properly, or get professional assistance. The “do-it-yourself” way is complex without a proper information and a compass. That is what I represent for a lot of student loan borrowers these days.

If you want me to inform and navigate you, and provide you with the tools so you can take charge of this you would be surprised at how small the cost is. It is less than $250.00 bucks.