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Johnny...need help!

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Topic: Johnny...need help!

Posted By: fireyesblue
Subject: Johnny...need help!
Date Posted: 30/May/2013 at 8:36am

I share a joint bank account with my husband through Scotiabank. The account was opened by him and I was added on last year (I banked with CIBC previously).

I went online to do some day-to-day banking and noticed $1000 was withdrawn and noted "Loan - Transfer". I called the bank immediately and spoke to a manager, and was advised that it was for an unpaid student loan. The bank manager told me this was a right of set off through the Government (which I question). I asked for what loan which she couldn't answer (I had a student loan with BNS 1998-1999 and one in Aug 2000). I paid off my CSL 5 years ago and have written documentation to prove it. I call the NSLC as advised and spoke to a supervisor who tells me I owe $17K for an unpaid BNS loan. Which I said I didn't and that I had paid my CSL2 off years ago.

I am told this is for a risk-shared loan. Which I know NOTHING about and that its in collections with NCO? I asked for her to send me proof of the loan which she declined - "we're past that stage, contact NCO". She said if I wanted my $1000 back to call collections and make payment arrangements. Quite frankly they are bullying me into acknowledging a 12 year old debt I know nothing about - which I never acknowledged...is this legal? I have never received a letter EVER. They said I never paid a payment and the last time I called was in 2002.

They just took money out....I am on STD from work and on strict bed rest due to a high risk pregnancy which will go into mat leave; this is causing a lot of stress which I can't have.

1) What are my rights/options?
2) I asked who authorized the withdrawal and they said it was BNS Presidents Office - if I close my account and bank with another institution can they take money again if I am not with BNS?
3) They told me this was to "get my attention" and wont happen again as long as I call and make payments. WTH? I want to close my account with BNS - will it make a diff?

Replies:

Posted By: SolveStudentDebt
Date Posted: 31/May/2013 at 7:53am

1. If it is statute barred then they have to return the money. Or, if it is not, and you are in hardship you simply demonstrate it in a manner that will not disrupt any current limitations in place, and push them to return the money. It is a process of course, and without knowing your entire situation I cannot advise fully.

2. They cannot offset an account with another institution unless they have a judgment, execution order ready to file, and knowledge of that bank account.

3. If this was to get your attention then they certainly got just that. Follow step one above to get your money back if barred or hardship can clearly be demonstrated.

Anything other than this I would have to become involved and there are fees.

Good luck!

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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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