Archived Urgent Help Needed Posts - RBC student loan and collections

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RBC student loan and collections

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Topic: RBC student loan and collections

Posted By: Cmac
Subject: RBC student loan and collections
Date Posted: 26/June/2013 at 11:09am

I have student loans over $30,000 from RBC over 14 years ago. a collection agency called me today demanding the full amount. It will take me over a decade to pay that amount. Is there anything I can do? any options? how can I deal with the collection agency?

Replies:

Posted By: administrator
Date Posted: 26/June/2013 at 11:25am

Do not do anything until you read the following forum. If you haven't made payments or acknowledge the debt, it may be statute barred.

http://www.canadastudentdebt.ca/forum_topics.asp?FID=90&SID=8738209eaa4z59f5533z6b87562526836574074&title=collection-of-old-stats-barred-loans" rel="nofollow - http://www.canadastudentdebt.ca/forum_topics.asp?FID=90&SID=8738209eaa4z59f5533z6b87562526836574074&title=collection-of-old-stats-barred-loans

Under no circumstances should you send anything in writing until you research your rights.

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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: Scathanna
Date Posted: 26/June/2013 at 1:10pm

Something similar happened to me. I thought my provincial (SK) student loan was paid in full 8 years ago. Turns out it was only one year and this debt held by RBC for the school years 1997-1999, totalled just over $12,000.00 in 1999. After receiving a phone call from CBV Collections demanding $24,904.00 in April for this RBC student loan, I went to my local branch to find out what they were talking about. The account manager was able to show me the computer screen showing that this loan, totalling $17094.00, was written off. She told me not to worry about it but also verified with RBC Collections that this amount had indeed been sent to the Collection Agency.

I have admitted to this debt verbally over the phone to the Collection Agency which records all calls. Today, after talking to a credit counsellor for repayment options available to me, she jumped on the number of the years and the "statute of limitations".

I did not receive any notification at any time that this account had not been paid in full, as I believed it to be, or that it was in arrears, or that it had been written off, or that it was going to be sent to a Collection Agency. I have not moved, my mailing address has not changed, if they sent something I would have received it. I was completely blind-sided by the call in April.

Going through other posts, I understand the statute of limitations in Saskatchewan for provincial Student Loans is 6 years so my questions are a)Did I inadvertently start the clock with my verbal admittance to this debt?, and b)What do I need to do to have this debt cleared under the statutes of limitations, if applicable.

Posted By: administrator
Date Posted: 26/June/2013 at 1:38pm

Talking on the phone is not usually acknowledgement. CBV is often hired to collect stats barred loans.... they keep trying.....

Johnny can answer this best...

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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: SolveStudentDebt
Date Posted: 26/June/2013 at 2:51pm

If it is a limitation issue it has to be handled carefully. Talking to them does not cause disruption. If you want this addressed right then I can help you do that but it is a service. There are good options for you if you want closure. But first a limitation issue has to be established and there is only one way to do that and that is to get "inside" and pick it apart. Limitation analysis and discovery is a service we provide.

The banks will do what is necessary to make statements, points, and even examples out of people who combat them. It is collection agency 101. The one thing you don't want them doing is proceeding anyway because the onus is always on you and the next person to prove otherwise.

If you want a quote you can call me 902-861-1210, or book an appointent with Heather (902-830-5061) for an appointment.

Cheers!

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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: Cmac
Date Posted: 27/June/2013 at 11:08am

is there anything RBC or the collection agency can do to me? such as court etc?

Posted By: SolveStudentDebt
Date Posted: 28/June/2013 at 3:15am

Anyone can sue, so yes.

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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: dreamyone
Date Posted: 19/July/2013 at 5:26am

I had the same call from ARO collections in regards to my RBC loan. I told them to stop calling me unless they sent me something in writing first proving I owed that money. It has been 3 months and they have never sent me anything. You can request in writing that they stop communicating with you over the phone. Depending on what province you live in there are rules that all debt collectors must comply with. Google debt collection in XXXX (whatever province you live in) and you should find some really good advise. Also you can contact the Attorney Generals office responsible for debt collectors who harass people in your province. It is illegal in Canada for them to harass, intimidate or threaten you into paying them.