Collection of Old - Stats Barred - Loans

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Old Debt and Disability

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=6325
Printed Date: 27/March/2026 at 5:35am
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Topic: Old Debt and Disability

Posted By: sarie
Subject: Old Debt and Disability
Date Posted: 31/December/2011 at 11:40am

Hi,

I have Ontario and Canada student loans from 1993-1999 (approximately). The last payment I made was probably 2001 while I was living abroad. I moved back to Canada 2 years ago and am on ODSP for a permanent disability. I did some research and found the Permanent Disability Benefit, which may allow me to have all of my loans forgiven. However, in order to do this I must contact the NSLC or the bank that hold my loans. I don't want to make any kind of acknowledgement, as I am not 100% sure what the status of my loans is. ( my only hint is that I finally filed income taxes for the last few years and received a refund with no mention of outstanding loans )

Any suggestions on how to proceed?

Thanks.

Replies:

Posted By: administrator
Date Posted: 31/December/2011 at 2:03pm

I believe your loans would be statute barred. Perhaps talk to John Leblanc at CFW Group to confirm this.

In the new year I will be changing the site policy to that student loan system is so screwed up, that loans should be bought back from the banks and should be forgiven.

If you do contact them which might be considered honorable, the banks will not treat you honorably. You will likely end up being harassed by collection agencies, the full amount will be due immediately, plus all interest since 2000. Even if you make payment arrangements they will harass you for more. It may also start to show up on your credit report again.

Personally, I don't recommend putting yourself through all of this. Let it go, and just know that it should have been forgiven due to your disability.

BTW, I dont believe there is disability forgiveness for Ontario Student Loans - I believe it is only for the federal portion, and there would be issues of trying to apply, because at that time the loans were through the banks...

Mark

-------------
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024

Posted By: administrator
Date Posted: 31/December/2011 at 2:08pm

Also, make sure your current bank is not at the bank that you originally deposited your student loans!

-------------
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024

Posted By: sarie
Date Posted: 31/December/2011 at 3:25pm

Thank you so much for your heartfelt and timely reply. I am SO pleased I decided to consult before starting the process.

Really - thank you so much.