Collection of Old - Stats Barred - Loans - Please help

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Please help - old loan

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=6313
Printed Date: 27/March/2026 at 2:02am
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Topic: Please help - old loan

Posted By: karma65
Subject: Please help - old loan
Date Posted: 15/December/2011 at 4:35am

I just got a call today from a debt collector that says i owe a ns provincial student loan from 1995 (they say it went in to collections in 96).Its from cibc The thing is, I have been paying my other loans all along. They say the origional loan was for 8000 and now with interest it is 17000! I am tripping out here! What is the statute of limitations for ns with this? As well, they have the wrong name on the loan - which is why i never recieved anything ..totally wrong middle initial. I insisted that they send me info about the loan because at that time i recieved a loan from cibc but never cashed it in due to health issues(couldnt go back to school). So, where do i go from here? I haven't sent any info to them yet (guy said i had to fax them a letter requesting info about the account along with a drivers liscence and another piece of id) . He said i cant fight it and just have to pony up the dough.I am so lost here as its been 16 years since i was even in school! where do i go from here?

thanks

Replies:

Posted By: SolveStudentDebt
Date Posted: 15/December/2011 at 5:36am

It is hard to say without bneing able to dig into the history of your student loan. The banks are pushing collection agencies to recover these old loans. Banks in particular reference laws quite a lot to confuse borrowers.

It does look like a collector is trying to get you to acknowledge it. Right now you have two options - address it or ignore it. I really can't give you any direction because i do not know your situation.

If it barred then you should address it as if it "is" barred. If you don't know how to do that, then you hire someone to help you if you want to address it.

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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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