Old CIBC Bank Risk.....
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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=6394
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Topic: Old CIBC Bank Risk.....
Posted By: Madmorrigan
Subject: Old CIBC Bank Risk.....
Date Posted: 22/March/2012 at 3:14am
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I posted this on another thread in this forum but then realized that I'd hijacked the original post, so I thought I should do a new topic, instead.... CSL paid off last year--woo hoo. I'm now receiving calls from CBV collections. They say that I must call them back to discuss a "very important matter" and they are representing CIBC. This can only be student loan related (assuming bank risk portion) as I don't deal with CIBC and haven't since 1998 or so. Last day of full time enrollment was sometime back in 2001 (was enrolled for one day but withdrew due to lack of funding and abject poverty). The last loan I received would have been pre-2000 (probably sometime in 1997). Haven't heard from these folks before that I can recall. I know there's no limitation issue on debt owed to the crown in Ontario--but what about the bank risk portion--is it the same thing? I don't want to call these guys back to discuss anything if it's going to reset the clock....financially, I'm "ok" at present, but I go back to my permanent job in June which is a lot less money and I would definitely be run into the ground with even a small, token payment. I also still have my other portion to deal with (the one the government has where they claw back your tax refunds/gst rebates--it's awful that I don't really know which portion this is, but I'm part of the cohort that had their loans split into so many parts.....stupid system). I also have a bankruptcy that I was discharged from in 2006--I know I could apply to have the remaining SL's included but I suspect that, on paper anyway, I make too much money to prove hardship and, quite frankly, haven't really done anything to demonstrate "good faith" (not that I've deliberately thumbed my nose at the system, I just need to deal with everything on my timeline for my own mental well being). Anyone have any thoughts? Can I 'safely' ignore these guys until I'm ready to deal with them (not permanently, just until I can deal with the rest of my sad life)? |
Replies:
Posted By: SolveStudentDebt
Date Posted: 22/March/2012 at 8:01am
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There is with the CIBC portion, Mad. However, bankruptcy proceedings in 2006 might have interfered with it. It all depends on if the trustee sent a staement of affairs and notice to CIBC. Were they included? ------------- 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: Madmorrigan
Date Posted: 22/March/2012 at 4:19pm
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Ah, but bankruptcy proceedings actually were initiated in 2001....I thought I had paid my trustee (I misunderstood what "conditional discharge" meant), but I actually owed them something like $75--didn't figure that out until 2006. I know that everything that I knew about was included and everything was sent to everyone (including the SL info, though I hadn't been out of school for more than 7 yrs at that point and was well aware they wouldn't actually be included). However, I was discharged on 20 Feb 2006---if there's a 6 year limitation issue, then I'm technically past that. So I'm thinking, let the bear sleep for a while longer.... |
Posted By: SolveStudentDebt
Date Posted: 23/March/2012 at 3:44am
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What you need to do is find out when the bankruptcy trustee discharged him/herself, and the date that the bank received that notice. If the trustee issued their notice of discharge to the bank let's saY in 2007 then that would would represent an acknolwledgment and push the limitation date to 2014.
If the trustee issued his or her notice of discharge in 2006 then you need to find out what the exact date of that was. Find that out and give me a shout and I will sort it all out for you.
 ------------- 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 |