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ILSA72
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Joined: 07/March/2005
Location: Canada
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Topic: HELP:Post-Banruptcy/CSL with Collectcorp Posted: 07/March/2005 at 8:38am |
Can someone please tell me what to do if anything can be done...I was discharged form bankruptcy May 2004, duing the period of bankruptcy I recieved a statement from Scotiabank stating $0.00 balance on my Canada Student Loan, so since then i have been waiting for some correspondance on repayment (i know it is exempt from bankruptcuy) i have recieved nothing until last week, a call from COLLECTCORP stating I have to pay up the full amount (approx $8500 plus $1000 interest) I am trying to rebuild my creidt...however they told me this will be on my public record unless i come up with the full amount!! I can not get a loan, luckily my Mother is willing to get a loan for me...this seems pretty unfair, if i had been sent some info on where to pay my loan i would not be in this predicament...is there anything i can do???? I have paid this loan down from $24,000 to $8000 faithfully......so disappointing
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gidget
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Joined: 10/March/2005
Location: Canada
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Posted: 10/March/2005 at 7:28am |
sorry this is not good news for you - you are the one that is responsible for contacting the government after your bankruptcy has been discharged - you signed an agreement when you originally signed your student loans - they do not communicate with you at all after - it is your responsibility to contact them and make payment arrangements
sorry
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hunter
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Joined: 04/September/2003
Location: Canada
Points: 640
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Posted: 11/March/2005 at 8:01am |
ILSA72
The day I was discharged from bankruptcy on December 9, 2002, I had three different collection agencies calling me. Two were from companies where I had the debt that was owed totally discharged, they were telling me that it was not discharged and that I had to pay it. So I told them where to go and told them to call my trustee which they never ever did.
The other one was calling on behalf of student loans. But I am not paying them back. I am paying off HRSDC first and then I will start paying off the other vultures. I have money only to pay one collection off at a time.
They just have to understand that and if they don't, that is there problem.
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Samm
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Joined: 25/April/2005
Location: Canada
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Posted: 25/April/2005 at 9:55am |
Sorry for the long message... I'm extremely stressed about this!
I am so glad that I'm not the only one going through this hell! I was discharged from my bankruptcy last year and was just contacted 4 days ago, out of the blue by a collection agency on behalf of the federal government. They told me that I had an outstanding debt of $10,000 in student loans and wanted to know when I would be able to pay it off. This came as surprise to me as I had no idea that I still owed that money as the CIBC told me that the Feds "absorbed" a portion of my debt. 3 years later, they come a knockin at my door wanting to collect!
The collection people (Allied International) stated that if I did not pay off the amount by the end of the month, that my file would be sent to the collection department and they would put a lean on my SIN number for 15 years. She explained to me that even when I was done paying off the money, the lean on my SIN still remains and I would never be able to get a mortgage. What angers me is that in the 3 years since I filed for bankruptcy I have never been contacted by anyone letting me know that I even still owed this money. I even explained to the lady that had I known that I owed this money I would have been paying them all along. The person responded by saying that a person cannot make payments on the loan until it is out of the "bankruptcy queue" - even though you're still be charged interest!
Any advice as to how I should proceed next? I'm so afraid that they will put a lean on my SIN number... can they even do that?
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kwelmm
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Joined: 06/November/2004
Location: Canada
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Posted: 25/April/2005 at 12:45pm |
Your SIN number is safe!!! It's a scare tactic and a pretty bad one at that!
Samm, read up on here on collection tactics or dealing with collection agencies from the home page as well as the www.cfwgroup.ca site. Don't be pushed around by false information from the collection agents...they will say what they say and be very creative at it to get you to pay.
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Samm
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Joined: 25/April/2005
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Posted: 26/April/2005 at 11:29am |
Thank you for clearing this up for me. I wonder how these people sleep at night?! She really did give me a scare, but then I felt better once I referred to the cfwgroup.ca page.
If I don't want to deal with the collection agency can I just tell them so? I'm not sure who to contact at HRSDC to find out information about my file so that I can set up a payment schedule.
I was also wondering if it is legal for the Federal Government to hold your student loan in a bankruptcy queue and not allow you to make payments even though they are charging you interest.
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hunter
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Joined: 04/September/2003
Location: Canada
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Posted: 26/April/2005 at 11:56am |
"I was also wondering if it is legal for the Federal Government to hold your student loan in a bankruptcy queue and not allow you to make payments even though they are charging you interest".
Unfortunately, this is the case.
Been there and done that.
I will tell you that the day after you get your discharge, they will be calling you.
Trust me on that one.
Just call it experience.
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kwelmm
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Joined: 06/November/2004
Location: Canada
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Posted: 26/April/2005 at 1:45pm |
Samm,
Chances are if it is with a collection agency then you will have no
choice but to deal with the CAs unless you are able to rehabilitate
your loan and get it back into good standing with the lender....Or
else....you hire someone to deal with the CAs for you!!
Good luck Samm!!
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sterling
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Joined: 16/May/2005
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Posted: 16/May/2005 at 4:42pm |
I am wondering , you can't declair bankruptcy on a student loan unless it is over ten years old. CBV collections was in touch with me and said that student loans sold them my account and that it is up to the collection agency now. Does this mean that student loans is out of the picture? Does this mean that because they sold it to collections, i can declare bankruptcy now? Someone please tell me yes.
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SolveStudentDebt
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Joined: 05/November/2003
Location: Canada
Points: 5996
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Posted: 17/May/2005 at 4:48am |
You can declare bankruptcy anytime you want, really. The4y would be very much happy to take your money and toss you into the insolvency pit.
No one here can tell you if you will be discharged. It is a student loan. Plain and simple. CBV likely did not "purchase" the account from the lender. Ratherm it is simply assigned to them. Sometimes collectors will tell people that they "bought" the debt when in fact it never occured. Some collectors feel more "empowered" by telling someone that their debt has been purchased, and that it will instill more urgency in your mind to get the debt paid.
Even if CBV purchased the debt as a recievable, it is still a student loan.
Johnny
www.cfwgroup.ca
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