The Stress is Beginning to Destroy Me

Hi everyone,

I have been out of school for 2 years now and upon leaving was in horrid financial shape just trying to get buy. Now I have a decent job and am making payments to HRDC, NCO, and trying to negotiate with CBCL. These are substantial payments as it is my goal to pay these loans off as quick as I can, but no matter how much I pay it seems it is not enough.

NCO and HRDC have been great to deal with for me so far, as I laid the groundwork early of my knowledge of the laws when it comes to this industry. HRDC does send me a statement every month but NCO does not and even upon my request continues not to do so. CBCL as of late has been the worst to deal with. I complained to the Collection Management Unit because basically the rep I was dealing with was lieing to me, harassing me, calling me at work just to hang up, and I was getting nowhere. They put me in contact with a Mike Irwin who has still to return my phone calls. I have decided to reverse the tide and have began calling CBCL many times a day, trying to get answers to no avail.

I guess my fear is that first, money I am giving to NCO is just going into thin air. I would feel much better receiving an invoice at least seeing my loan going down. Also, I am worried CBCL is trying to mark me as a non paying debtor and take me to court. This is by no means the case, but how would I prove such a thing if it came up.

My goal is to pay these debts off, and that is what I have been doing, but I am just worried one day my bank account will be emptied, or I will receive a court order, that will just push my mental state over the edge.

Any enlightenment or tips are well appreciated.

 

Call your NCO rep and ask for a statement of account.  If CBCL doesnt want to deal with you right, and you wish to confront this, I'd send in some real piddly payment.  This will;

A) keep it from ever actually being sued

B) Get their attention, if thats what you want, and hopefully get toward a resolution.

Really when you think about it, the loan is where it is, it wont go away untill you pay it off, so ignore the collectors and pay as much as you can, then you will pay it off as soon as possible.  That wont change wether you speak to the collector or not, all that will mean is grief.  You'll never get sued and never deal with the B.S.  Also, if you want to really tick them, address all payments to the student loan payment centre..as long as you have your account number on them, they should make it on to your loan (unless its the govn;t claimed portion) and they have to go to the trouble of sending it to the right place now. 

Like I said, for SL debt, you can still send money to the CIBC or NSLC or wherever, even if its gone to collections...the agency then has to keep an eye on the account and has to go to all the work of bugging the lender to get there cut...and it goes to the loan, and the bank is still accountable...just a little way to add more hastle to their lives :)