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1990 Ontario government small business loan

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Dexxter View Drop Down
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    Posted: 29/April/2016 at 4:48am
Looking for insight into an issue that has come up. In 1990, I participated in a small business development program through the "Ontario Development Corporation". Poor decisions on my behalf caused the loan to go into default, and being unable to pay at the time, the account was sent to collections. After being harassed for years I was able to pay the debt, and that was that. My credit was never very good over the years, and therefore I did not use it often... until a few years ago. I was able to buy a couple of vehicles (my income is quite good now), and thought things would continue to improve. In March of this year, I went to the bank for a loan, and my credit report showed the 1990 debt. It was also marked as unpaid. 
After many phone calls to find out what was going on, I was told that there is no record of my payment and that without a receipt I was liable for the debt. The debt was paid to the "Ontario Ministry of Northern Affairs" office which is no longer open. I have been to the bank to try to get the cancelled check, but the check was from my mothers account and she passed away in 1995.  I have spoken to the Ministry of Finance Collections  manager and the manager of the collection agency assigned with no headway. 
Without proof of payment, I have resorted to looking at other options. This loan was through a program called "Ontario New Ventures", and I cannot find any information on limitations law from 1990. 
My credit report has a payment listed in March 20015, which is, of course, false. When I called the collection company and asked about this the lady became very defensive and said "It's not a payment reported' it's the date we got the file, and it's not stats barred because it's government"... I guess she knew what I was about to say. When I told her "if the debt was not paid it would have been stats barred long before 2004", she was downright rude. 
Once that was over, she offered to take half of the principal as a settlement. I told her that my next step was a lawyer, but I would pay that amount today if it avoids lawyer fees and the account comes off of my credit report immediately. I was put on hold and when she came back she said "We can do that if you make the payment today". When I asked for that in writing she made multiple excuses as to why she couldn't do that. I told her I would not pay before I get it in writing, and she said it wouldn't happen and I need to trust her. I laughed... said "Thank you, but no thank you" end of call. 
I really just want this off my credit report even if I have to pay it again. Any advice?

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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 29/April/2016 at 4:16pm
They are probably lying to you. It is likely statute barred and they are probably bluffing trying to get money out of you.
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Mark O'Meara

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Dexxter Quote  Post ReplyReply Direct Link To This Post Posted: 30/April/2016 at 4:48am
That's what I thought Mark, but there is a ton of contradictory information floating around all over the internet. If the collection agent denies my claim, what do I do next? Where do I find out for sure and get the proof I need to end this once and for all? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 01/May/2016 at 6:49am
If you are looking for a limitation blanket int he province of Ontario you are in for a battle.  You can hire an attorney and pay a ridiculous amount of money, or hire me or someone like me if you can find one in Ontario or elsewhere. 

I will say this. If you have no proof that a payment was ever made on a specific date for a specific amount, and their records do not reflect it, You don't have a case for that argument to bear fruit.  There are thousands of cases brought before review and inquiries of he said she said and it is the same result. Unless you have proof.  

The Ontario government is hurting for cash, and the Ontario student loans program has a LOT of outstanding invoices. They, like any other creditor, will do whatever they can to hook or crook people. Sad, but if you look at the volume, desperate government do desperate things just like desperate people do desperate things. If they are doing something unjust or wrong to someone then you have to catch them. 

I can't advise or do anything for you unless you are a client, but it is important that you come to grasp with the reality of what I wrote above. 

Good luck! 


Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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