Archived Urgent Help Needed Posts - NS student loan in fefault from 1996-1998

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NS student loan in fefault from 1996-1998

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Topic: NS student loan in fefault from 1996-1998

Posted By: aswin
Subject: NS student loan in fefault from 1996-1998
Date Posted: 17/April/2013 at 2:08am

Please help I am very confused..I have been looking on this site and it has been very useful. However, I am still very confused. My student loan is 15 years old now and a portion of it is with HRSDC where I make minimal payments. The other half was royal bank. I havent heard anything of this portion for years. It does not show on my credit report. I had been screwed by scotia bank a few months ago when i applied for something and realized they were reporting that I had a mortgage that i never had! I have had it cleared up but I get my credit reports online and get a notification if something changes. I got an email from equifax stating that there had been a hit on my record. It was from CBV collection Servivces. It is for the Royal Bank portion. I dont know how much as someone else called to see why.

Im not sure what to do.....I am a single mom of 4 kids and I stay home.

Can you please shed some insight to what I should do or if there is anythingh or shoudn't do?

Greatly appreciated. Thanks

Replies:

Posted By: administrator
Date Posted: 17/April/2013 at 7:35am

Your RBC portion may be statute barred. We have a subforum on that topic. That doesn't stop CBV from trying to collect though. Under no circumstances should you write anything to CBV or to RBC about the loan as that will acknowledge the debt and reset the statute of limitations.

Here's a link to our stats barred forum.
http://www.canadastudentdebt.ca/forum_topics.asp?FID=90&SID=87382097197ece542e8z6z718f4e95218055556&title=collection-of-old-stats-barred-loans" rel="nofollow - http://www.canadastudentdebt.ca/forum_topics.asp?FID=90&SID=87382097197ece542e8z6z718f4e95218055556&title=collection-of-old-stats-barred-loans

Sometimes telling them the loan is stats barred will stop the calls.... but only for a while....
Don't try to argue with the collection agents as they are in no way willing to help and they will be manipulative. Just say "This loan is stats barred. Stop calling" and hang up.

You might consider getting a properly written 'cease and desist' letter but it has to be properly written so you don't acknowledge the debt.

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

Posted By: aswin
Date Posted: 17/April/2013 at 8:15am

Thanks. I actually checked my transunion report and rbc show up there. They all say account closed, paid.... I am really confused now...

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A.Swin

Posted By: SolveStudentDebt
Date Posted: 17/April/2013 at 8:47am

That is a CSL1 (Federal guaranteed from the old program) or CSL4 (federal direct). THey read "0 balance, paid (by government guarantor). THat is not a bank risk loan that you are seeing.

A RBC risk-shared loan would show as a RBC loan in status default, if it is actually in default.

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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: aswin
Date Posted: 17/April/2013 at 8:57am

The 3 that show all show the same thing. So what does that mean for me?

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A.Swin

Posted By: SolveStudentDebt
Date Posted: 17/April/2013 at 9:40am

I don't know because I cannot see what you are looking at. THat is why I mentioned to you that this requires a pretty good assessment and analysis when you contacted me privately earlier today.

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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