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I've recently been contacted by Partners in Credit for the risk portion of my student loan from my first year in university- 1999/2000. I had been paying my loans to Revenue Canada and had no idea that I owed any money. I called Revenue Canada and the Ontario student loans who all confirmed that I had paid in full.
Then I called Royal Bank who said that this was the risk portion of my federal loan. I have a Visa with this bank in good standing (nothing owing) and I asked why if I owed money I had not been contacted in so many years- they clearly had all my contact information and actually sent me a statement last month offering to increase my limit on my credit card. They s aid I had to speak with the collection agency because they had a contract with them.
The collection agency has called me on average 3 times a week AT WORK, leaving threatening messages that the next call would be to my payroll department. I have not answered any of them and do not want to deal with them at all. I have requested Royal Bank to send me some sort of proof that I even owe this money, which they agreed to do, but stated that I had to contact the collection agency for any additional info. I really don't want to deal with them when they are being so harassing.
My questions:
1. Is there any obligation for the bank to have contacted me if in fact I owe this money, which has now accumulated over 1000 in interest (loan is for approx 3800 including interest), especially given that they have always had my updated contact information through my Visa account with them?
2. What is the statute of limitations on this loan? The laws are confusing. The date of last activity is 2005 according to my credit report- does that mean a 2 year limitation based on Ontario, or a 6 year based on the federal student loan policy, or no limitation? I guess what I'm asking is whether the bank risk portion is equivalent to a regular Ontario debt or if it is also classified as a "student loan"?
3. Will I be sued for 3800 dollars as the collection agency is telling me? And how do they prove the last activity on the loan? (I am doubtful that it was 2005 as I didn't know this loan existed).
I am not trying to avoid paying my debts but I am VERY frustrated about accumulating interest and being harassed when I had no knowledge of owing this money for so long.
Help and advice is greatly appreciated!
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