Returning after 6-7 years
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Topic: Returning after 6-7 years
Posted By: returned
Subject: Returning after 6-7 years
Date Posted: 21/June/2011 at 3:19am
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I finished college and went abroad for some years. While away I kept in touch with NSL people. I even made a few payments but its was difficult to keep that up. My last payment was in 2008. I returned a few months ago and got a credit report. It says my loan has been transferred. It doesn't say where. No one has contacted me even though I'm sure by this time my address has been update with credit bureaus. My loan is approx 22k. The report is date Jun 2009. I live in Ontario. Here are my questions: 1. Who has it been transferred to? 2. Should I call the NSL pple? 3. When I file taxes next year for the first time will this affect that? I have been working for 5 months now. 4. I am trying to re-build my credit so how will this affect that? 5. Do I still owe or has it been written off? Please and thank you to any answers. |
Replies:
Posted By: SolveStudentDebt
Date Posted: 23/June/2011 at 4:21am
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I am assuming that when you reference "NSL" you actually mean "National - or Canada guaranteed student loan".
If so:
1. If the loan is in good standing it would still be held by the National Student Loan Service Center. If it is in arrears and not written off it would be held by Tricura, which is the internal collection center of the NSLSC. If the loan is written off then it has been trnsferred to Canada Revenue Agency for recovery and set-off.
2. Should you call them? I would say yes. Should you avoid them? I would say no.
3. If your loan is in default and returned to the govenrment then you will likely lose any income tax rebates you are entitled to.
4. If the student loan is reflecting on your credit history then it is all relative. What is your idea of "rebuilding" credit though? Rebuilding credit is difficult if not impossible if you don't know what you are doing, or understand how the financial community functions in that regard.
5. Who knows. That is something that has to be analyzed. If you want help with all this stuff come to me privately and I will open a file on you and help you figure all this stuff out and get you where you need to be, based on realistic goals.
Johnny ------------- 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: returned
Date Posted: 23/June/2011 at 8:08am
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I mean re-building credit as in making everthing right so in the future when I want to buy a house I won't be denied a mortgage based on my credit history.
Yes I meant NSLSC.
 Who do I call? NSLSC or the people the loan has been transferred to?
What does CRA recovery and set off entail?
How do I get in touch with you personally?
Finally, THANK YOU SO MUCH FOR YOUR RESPONSE AND TIME. THIS STUFF IS DRIVING ME CRAZY!!!
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Posted By: SolveStudentDebt
Date Posted: 23/June/2011 at 3:39pm
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If thr loan is in default you call the CRA office in Belleville Ontario or Surrey BC. If in good standing you call the NSLSC. CRA is incredibly aggressive. Set-off is the process of confiscating your income tax rebate.
If you want to talk with me you can reach me at 902-861-1210.
Johnny ------------- 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 |