This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities have been forced to cancel programs and layoff hundreds if not thousands of full-time and contract instructors.

Again, the Liberal government has messed up the education environment.


  New Posts New Posts RSS Feed - RBC student loan and collections
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedRBC student loan and collections
 Post Reply Post Reply
Author
  Topic Search Topic Search  Topic Options Topic Options
Cmac View Drop Down
Newbie
Newbie


Joined: 26/June/2013
Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Cmac Quote  Post ReplyReply Direct Link To This Post Topic: RBC student loan and collections
    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?
Back to Top
Sponsored Links


Back to Top
administrator View Drop Down
Admin Group
Admin Group
Avatar

Joined: 25/January/2003
Points: 1798 		Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post 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

Under no circumstances should you send anything in writing until you research your rights.
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024
Back to Top
Scathanna View Drop Down
Newbie
Newbie


Joined: 26/June/2013
Points: 1 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Scathanna Quote  Post ReplyReply Direct Link To This Post 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.
Back to Top
administrator View Drop Down
Admin Group
Admin Group
Avatar

Joined: 25/January/2003
Points: 1798 		Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post 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...
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024
Back to Top
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post 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!
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
Back to Top
Cmac View Drop Down
Newbie
Newbie


Joined: 26/June/2013
Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Cmac Quote  Post ReplyReply Direct Link To This Post Posted: 27/June/2013 at 11:08am
is there anything RBC or the collection agency can do to me? such as court etc?
Back to Top
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 28/June/2013 at 3:15am
Anyone can sue, so yes.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
Back to Top
dreamyone View Drop Down
Newbie
Newbie


Joined: 19/July/2013
Location: Canada
Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote dreamyone Quote  Post ReplyReply Direct Link To This Post 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.
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.