Archived Urgent Help Needed Posts

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10 years later ...

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Forum Name: Archived Urgent Help Needed Posts
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URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=6788
Printed Date: 27/March/2026 at 6:05am
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Topic: 10 years later ...

Posted By: yowza
Subject: 10 years later ...
Date Posted: 25/November/2013 at 10:16am

It has been 10 years, at least, since I last heard from a student loan (Canada and/or BC) collection agency after defaulting in 1998 with CIBC. After years of harassment (they didn't think my monthly payments were adequate) I consulted here, and with a lawyer, and decided not to talk to them again. Haven't, either. Tip: just change your phone number whenever they find you -- they soon give up.

Anyway, my husband's bank (BofM) is concerned that I don't have a credit card in my own name. They tell me that if something happens to my husband (he's 70), I'm outa luck and won't be able to continue to use the card (in my name but his account). So, they insisted on applying for a credit card for me.

My application was denied.

I would like to send for a credit report to see what it says. I haven't had any dealings with creditors, new or old, for probably 15 years but am worried that this might start something up. The only contact with credit I've had is that CIBC was putting in some kind of automatic credit application every time I went in there to cash a cheque. Can't imagine what that was about but the teller told me it showed up every time as a request for credit (yikes) so I changed banks.That was 10 years ago.

Sorry to be long winded. I would like to have a credit card in my name, of course, in case of emergency. I can get a Capital One secured card, if that's a good idea.

To recap: shall I send for a credit report and do I have to apply to both Equifax and TransUnion, or who?

Thank you for your help.

Replies:

Posted By: administrator
Date Posted: 26/November/2013 at 4:13am

Yes, send for a credit report from Equifax to start. Then see if there is any identity theft issues, or maybe they have things mixed up with your name. You might have been denied because you have no credit history at all.

In that case, try for a Capital One with a deposit to get something established, or perhaps talk to Johnny at CFW Group to see what he can recommend.

You can get your credit report for free at equifax.ca

Let us know how it goes.

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

Posted By: yowza
Date Posted: 26/November/2013 at 9:02am

Thanks, Mark. I'll do that.

Posted By: administrator
Date Posted: 26/November/2013 at 12:29pm

No matter what you do, do NOT write anything to CIBC even if you find something on your credit bureau about student loans that should not be there.

Your loans are probably statute barred. Writing to them about the loan could cause you to lose your limitations by acknowledging the debt. Any letter needs to be very carefully worded...

There is a sub forum on statute barred loans here at http://canadastudentdebt.ca/forum_topics.asp?FID=90&title=collection-of-old-stats-barred-loans" rel="nofollow - http://canadastudentdebt.ca/forum_topics.asp?FID=90&title=collection-of-old-stats-barred-loans

Just because they are statute barred, doesnt mean they will not try to collect them.

Good idea to be proactive on your own credit situation and financial planning.... and thanks for sharing here on the site. If you can report the outcome here, it will help others.

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

Posted By: yowza
Date Posted: 26/November/2013 at 5:57pm

Okay, turns out CIBC found an account with my name on it and scooped a few bucks in 2009-01

I had forgotten that. It will purge from the system in 2015-0l (does that mean January?). I can live with that or get a Capital One secured card.

The only other information on the report was 5 inquiries from one credit collection agency, last one in 2008. It states, on the page, that a "minimum" of 5 of these will continue to show up despite the purge date which has long past. So, hopefully, they have given up.

Otherwise, they seem to know nothing at all about me which is good. Wish I hadn't given them my new address but at least I faked the phone number (as if I'd give them that!)

I went way beyond the call of duty in trying to pay back this CIBC loan. Johnny and a lawyer convinced me to quit trying. It was a nightmare that I would like to put behind me, how.

Posted By: yowza
Date Posted: 27/November/2013 at 5:29am

Lol, I meant "now".