Harrassment or legitimate collections?
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Topic: Harrassment or legitimate collections?
Posted By: jalynmac
Subject: Harrassment or legitimate collections?
Date Posted: 28/November/2013 at 3:46am
I am aware that ignorance is no excuse, but I honestly thought that perhaps my loan was written off. I am new to this so I do not know the collection procedures.
I found this forum googling a phone number that keeps calling me claiming I owe Royal Bank for student loans. I do not know how they found me but they call my work, home, and cell phone daily. I told them they have the wrong person because I'm truly unsure if this is my debt, but they keep calling anyway. They ask to confirm a few details like my date of birth and SIN which I never tell them. Certain facts add up don't get me wrong, but I'd like to hope that my credit report is correct when it says that I am paid and in good standing with Royal Bank. I know it can be wrong just as easily as anyone but I'm hoping!
My first loan was in 1999, I only went to school for one year. Collection was NEVER attempted after my first application for interest relief. Not once. Perhaps they lost track of me when I moved, I don't know.
Question #1: I am pretty strapped for cash, I barely make ends meet right now. Is making an arrangement possible or pointless? I mean strapped as in $20 a month MIGHT be a possibility but even that is pushing it. According to them I owe around $11k I think. I am fully prepared to go bankrupt and I know I can due to the age of the loan in addition to my existing debt load, but I can't afford to lose my house. My mortgage is cheaper than any rent out there and I would be screwed if I lost it.
Question #2: If I continue to ignore there calls, what happens? Can CRA really intervene and start garnishing me?
Question #3: How does my credit report state that I am paid and in good standing yet these people keep calling? Who has the onus to prove that I have a debt?
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Replies:
Posted By: administrator
Date Posted: 28/November/2013 at 6:03am
First of all, until you establish what this is about, do not agree to anything. If you never paid the loan it would not have been forgiven or written off, although the terminology used when sent to collections is confusing. It used to say on your credit bureau something like 'written off' but all this meant was that it was sent to collections.
A further complication is that in that time period you might have had a federal and provincial loan....
But here's some good news. If you have not acknowledged the loan or made any payments, the loan could be statute barred. Read up on the posts in this forum.
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
Even though the loan may be stats barred they may still try to collect it, but if it is stats barred that can be stopped.
Read up on what you can but in no way should you make a payment or acknowledge the loan. Doing so will cause you to lose your statute barred status. They should not be calling you at work.
There is also info on this page about collection agencies...
http://canadastudentdebt.ca/collectionagencies.asp" rel="nofollow - http://canadastudentdebt.ca/collectionagencies.asp
You might also contact Johnny at CFW Group http://cfwgroup.ca" rel="nofollow - http://cfwgroup.ca do get him to do an assessment of the stats barred issue. He charges fees but they are reasonable, especially in light of the stress this can put you under.
Let us know how things go.
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Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024
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