16 years ago now they come knocking
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Topic: 16 years ago now they come knocking
Posted By: Wthomas
Subject: 16 years ago now they come knocking
Date Posted: 18/January/2014 at 7:21am
In 1994 my wife decided to go back to school. She has a chronic heath and while she in school it flared up quite badly. She was unable to continue with her studies and as she was not in school her student loans came due. She was not able to work and as I was the sole bread winner and we were living in Vancouver with it's high cost of living we were simply not able to make the payment. She wrote them a letter explaining the situation and they sent back a letter that said they recognized her as being unable to pay due to heath reasons and that they would not require her to pay. Essentially they forgave the entire amount of the loan with condition that they would review her case from time to time and that should her situation improve they would ask her to pay. This was in 1997. Her health did improve and by 2005 she was able to return full time to work. frankly we had long since forgotten about the loan as in the nine years since she returned to full time employment we have heard nothing from them. We have had inquiry's as to her current situation. we have not gotten a bill, nothing. Suddenly out of the blue we are getting calls from this Financial Debt recovery outfit. We have not as yet returned those calls but I see online that this outfit has been going right into individual bank accounts and taking all the money. Can they do this? Is it legal? We have not received any notification of court action or court orders or judgements. We realize that we may have to pay and are able to do that but we don't want all her money taken at once as that will put us in dire straights. what can we do.
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Wthomas
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Replies:
Posted By: administrator
Date Posted: 18/January/2014 at 3:58pm
First of all, read up on the stats barred section of this website. If you are still using the same bank account that you deposited your student loans into, you need to change banks immediately.
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
Under no circumstances should you send anything in writing to anyone, otherwise you might accidentally acknowledge the debt and lose any rights to being statute barred.
Even though the loans might be statute barred, they still try to collect them. Start making notes of when the call. You might considering hiring John Leblanc at CFW Group to get this sorted out...
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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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