Author |
Topic Search Topic Options
|
Zing79
Newbie
Joined: 24/March/2016
Points: 2
|
Post Options
Thanks(0)
Quote Reply
Topic: Date of Last Payment Posted: 24/March/2016 at 7:48am |
I won't go into BG story mode, just the relevant info: MIN OF TRAINING COLL UNIV | Date Assigned: | 2015-04 | Account Number: | XXXXX | Collection Agency: | NCO COLLECTIONS | Reason: | | Amount: | XXXX | BalanceAmount: | XXXXX | Date of Last Payment: | 2015-03 | Date Paid: | | Date Verified: | | | | Comments: |
Haven't been in school in over 10 years. Even if this is a legit debt, it's never been acknolwedged, and most cerainly has not had a single payment made in those 10 years.
Tried filing a dispute with Equifax. Equifax contacted NCO, NCO rubber stamped it.
Contacted NCO asking for original documention on the debt. Did not acknowledge it. Only thing stated was that date of last activity on a student debt 100% would not have been march 2015, and that in fact anything in my name would have to fall well outside the Date of Last Activity and Payment windown of 6 years, thusly, it shouldn't even be on my Equifax report.
That launched them into a tangent about how Gov Student Loans had an exception on the date of last activity, which could be changed, and can be put back onto my Credit Report as NCO did.
I didn't continue the engagment. Simply repeated I wanted copies of documentation they had, and any relevant info relating to Min of Colleges and Uni, so I could call them.
Before I continue on (and make any calls), I need to know the rules governing this in Ontatio (with respect to Min of Coll/Train Student Loans). Do they have an exception on changing the Date of Last Payment with Credit Reports? AND SPECIFICALLY having a loophole to keep something like this as a collection debt, without you acknolwedging or making any payments on it?
I am NOT asking if NCO can attempt to collect on something like this forever with the calls and the letters. I know they can. I simply want to know if they can keep screwing with my credit rating and resetting the Date of Last Payment they way they are.
Thanks for any help.
|
|
Sponsored Links
|
|
|
administrator
Admin Group
Joined: 25/January/2003
Points: 1798
|
Post Options
Thanks(0)
Quote Reply
Posted: 26/March/2016 at 11:18am |
Can you explain why you didn't make any payments? Were you unable to make payments or just didn't?
|
Administrator Mark OMeara Author of Let Go and Heal: Recovery from Emotional Pain https://LaughSingWrite.com - http://bit.ly/heal2024
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 27/March/2016 at 3:07am |
OP, the issue is that Ontario Student Loans have no Statute of Limitations on them ( since 2002?). There was another thread about this. You can try searching for it. Essentially, the conclusion in that thread was that any debt without a Statute of Limitations can be re-reported to collections indefinitely even if it has been reported before.
|
|
SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
|
Post Options
Thanks(0)
Quote Reply
Posted: 29/March/2016 at 4:23am |
The change to the Ontario legislation came into force in 2004 (April 1). Loans taken out or entered into default on or after the date in 2004 are not protected by any limitation period.
A limitation benefit is difficult to achieve in the province of Ontario in respect of OSAP loans unless your loan was written in or before March 31, 1998, and there has been no activity at all on your part afterward for the prescribed limitation period described in the prior legislation (6 years).
Loans taken out "After" April 1, 1998 that have gone into default before the new amendment came into force is where the government of Ontario raises the biggest stink when limitations are suspect and approached by the borrower community.
|
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 29/March/2016 at 8:07am |
If I may clarify something that Johnny just wrote:
He states that it is difficult to achieve a limitation benefit on OSAP loans. Since many will conclude from that that anything borrowed through OSAP will have difficulty with this limitation, I'd like to remind people that OSAP consists of both a federal and provincial portion. It is the provincial portion that is unlimited. The federal portion still has a six year limit.
|
|
SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
|
Post Options
Thanks(0)
Quote Reply
Posted: 29/March/2016 at 10:14am |
The student loans are governed by the federal government and it's laws as the student loan is written up under the CSLP umbrella. so it is the CSL consisting of both - CD and ON, which is why they call it a CDON (Canada Ontario) integrated. If default occurs then the governments are called in to claim their property, and then the provincial and federal limitation laws apply.
|
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 29/March/2016 at 11:10am |
Johnny wrote:
The student loans are governed by the federal government and it's laws as the student loan is written up under the CSLP umbrella. so it is the CSL consisting of both - CD and ON, which is why they call it a CDON (Canada Ontario) integrated. If default occurs then the governments are called in to claim their property, and then the provincial and federal limitation laws apply.
|
Therefore, if you've borrowed through OSAP and are currently in default without the ability to rehabilitate both loans ( both have rehabilitation programs available now), you should focus your attention on the provincial portion of the loan since its the one that can cause you permanent damage if it isn't cleared.
Chances are pretty good that your provincial debt is only about one third of your total debt. You may find that rehabilitation is well within your means if you focus your attention on it. Apply for it and see if you can afford the payments.
https://osap.gov.on.ca/OSAPPortal/en/A-ZListofAid/PRDR013036.html
After successful completion of this program, your credit report will be adjusted to a loan in good standing.... apparently.
|
|
SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
|
Post Options
Thanks(0)
Quote Reply
Posted: 30/March/2016 at 5:31am |
Yes, but limitation issues do not apply in the case you are making concerning rehabilitation. It;s either default and apply for rehabilitation, or default is imminent and rehab will not work for whichever the case may be.
There are other benefits available to those in default. The Ontario government has become very open-minded as of the last few years. There are relief benefits to borrowers in default where rehabilitation will not solve the long-term problem.
In a case of default, I don't see how the Ontario loans will cause more grief to people than the federal. The government of Canada commences litigation at a very high rate on defaults. The Ontario government is not as aggressive. You are singling out the credit reporting issues but missing the mark on what the consequences are to a borrower who doesn't service the federal side. The government of Canada is less open-minded and will impose their will to ensure that borrowers have them as first priority in mind. It's black and white with the federal circuit unless they become convinced that there are other colors in that spectrum, which is only based on an individual - case-by-case level,
If rehabilitation is in order then adjustments are made on the reporting ends. In my opinion, student loans should not even be allowed to report to any credit bureau. They are not credit products. The governments are not "creditors" and for some reason they have been enabled with that new power to ensure that student loan borrowers prioritize student debt in a manner that serves the provider's best interest.
|
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 30/March/2016 at 2:34pm |
Back in May I was approached by a collection agency for the Ontario portion of my student loan. Having learned about the Ontario limitation rules and credit reporting rules, I realized that I was in trouble. For me, having this report again to the credit bureau would have been disastrous. Thanks to a job where I made use of my own credit cards to make purchases for my job, I was extremely liquid, and was able to absorb my Ontario loan onto my credit cards, which I then consolidated with a loan at about 8%. I managed to avoid having this debt report again to the credit bureau (Although, I have since started my own business and now have credit card debt which exceeds all Student Loans, but that's a different issue - and a manageable one).
OP, it sounds like you have not made a payment in over 10 years. You need professional help to confirm this, but it sounds like your Federal debt is statute barred. In fact, depending on when you defaulted and whether or not you managed at any point to pull yourself out of default, your provincial debt may or may not be statute barred. We don't have enough info to tell you with certainty. I think that there is very little risk that the Feds will take you to court. Your provincial debt, however, is a potential disaster for you. The sooner you can get this under control, the better. Clear the debt in full, if you can. Otherwise, your provincial debt, which is CURRENTLY in default, can be rehabilitated as I stated above.
|
|
SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
|
Post Options
Thanks(0)
Quote Reply
Posted: 30/March/2016 at 7:08pm |
Or, if you are experiencing hardship (past and/or current) that equates to a long-term crisis then Ontario loans can be taken out of recovery and set aside. If you are in hardship, rehabilitation is not the answer if you are unable to pay. If you are able to contribute, and hardship is not present, then rehabilitation is certainly the moral choice. However, each person has their own set of circumstances and if a person who would otherwise qualify for a greater benefit enters into rehabilitation, then there is little benefit if payment cannot be afforded.
The Ontario government pushes collection of the debt. They also have to abide by the law and policies as outlined in the student loan administration and handling. In my experience, the Ontario government has gotten better and better at working with us and individuals over time, and they certainly have gone WAY beyond the call of duty to help people in serious trouble. If there is a case for a benefit then they will oblige if it is done right.
There comes a time when people have to acknowledge that there are MANY options. The student loan administration is negotiable with the right case and approach.
The affect on the bankruptcy industry - they do not want people to know this stuff at all. The National Student Loan Service Center does not want you to know a lot of things that are discussed in these open forums. The bankruptcy industry creates an identity crisis, much worse for those who participate in it that really should not. Once its done you are branded, and it is for a lot longer than what people describe in a credit reporting manner. Creditors harvest information and can easily "bring up" information that one would assume has been erased over time. The financial community is always aware of who is who.
|
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 31/March/2016 at 12:53am |
True enough, but the OP has mentioned nothing about hardship other than frustration that its on his credit report again. If he's in hardship then yes, I agree with you, otherwise the best thing he can do is get it under control through payment in full or rehab. Its the only way to mitigate damage to his credit report which he has raised as his primary concern.
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 31/March/2016 at 12:56am |
By the way, OP, March 2015 was when collection agency first contacted me, not May. I finally resolved it in May. Obviously, March 2015 was a refreshed attempt for the system to recover old debts from a few of us.
|
|
SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
|
Post Options
Thanks(0)
Quote Reply
Posted: 31/March/2016 at 6:21am |
Primary concern is always "credit damage". People with good intentions, and oddly enough, people with bad intentions.
If someone who is able to pay, is not experiencing hardship, has benefited from their education, and has been subjected to a default, then rehabilitation is the way.
If some is unable to pay, is experiencing hardship, has not benefited from their education, and has been subjected to default because of this, then rehabilitation is not the solution. There are better options and solutions for this group. This is who I and my team is interested in helping.
Everyone voices frustration over the derogatory reporting of a debt to a credit report. It is certainly frustrating. But, for those who have no intention to pay, do have the ability to pay without it causing undue hardship, and are benefiting financially and professionally from their education, and have deliberately failed the system that enabled these benefits, then it is a consequence for action and "inaction" in respect of the responsibility and obligation.
This smaller group of apples is what spoils the larger group if good apples. So be careful who you give advice to until you know what their circumstances and intentions are. This website is all about helping people who need help and not those who do not need it, but only to frustrate the system.
On march 26th, the Administrator wrote in response to the initial post:
"Can you explain why you didn't make any payments? Were you unable to make payments or just didn't?"
There was no response. So, until that happens, you can't give sound advice without knowing certain facts. The integrity of the site is what the administrator is maintaining here in his query.
|
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 31/March/2016 at 7:56am |
"Haven't been in school in over 10 years. Even if this is a legit debt, it's never been acknolwedged, and most cerainly has not had a single payment made in those 10 years. "
I'm sorry, but this doesn't sound like a person who has intentionally screwed the system. This sounds like one of many people who defaulted on the total loan and didn't realize that there is another piece that they'd failed to deal with. At one point, I think there was 6 different pieces of my loan out there.
Anyhow, yes, I see your point. The OP has disappeared so we don't know his real motivation. I've also had people claiming to want to help me, also disappear. I'm glad I found a way to resolve it on my own. My point is that the suspicions are double sided.
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 31/March/2016 at 8:08am |
This quote also sounds like a possible case of mistaken identity. Its as if he's surprised he has any debt related to his schooling.
|
|
SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
|
Post Options
Thanks(0)
Quote Reply
Posted: 01/April/2016 at 11:49am |
No one said that he or she is screwing the system.
There is only one way to ascertain if a debt is, as people say, "legit" and that is to go back and look at your loan documentation that you were given when you took out the loans. If you took out a student loan then you have records of it. If you lose them then simply ask for them.
A lot of people who borrowed in the risk-shared generation are confused about the split and divide post default. However, if you took out student loans, and do not recall paying them back, then you can assume you have a student loan - unless you received forgiveness or some sort, and that is not a common thing by any stretch.
"Haven't been in school in over 10 years. Even if this is a legit debt, it's never been acknolwedged, and most cerainly has not had a single payment made in those 10 years. "
Like you, I don't think this sounds like the person is screwing the system. What it does sound like though is this:
"Holy sh*t! I got a call by someone wanting money for a student loan I took out ages ago, and had not dealt with for whichever reason. Is there any chance that this debt can be statute barred??"
The intention here I believe is self-defense and one's safeguard from an otherwise barbaric and despotic financial system. Limitations are a benefit to anyone that it applies to anyway, so regardless of intention, personal protection defense is anyone's right.
But, it is assumption and subject to all sorts of perceptions until the person comes forward, especially if it were me help was being sought from. If I were going to assist this person then I would say the same thing. A debt owed is a debt owed, and if you can pay it - then pay it. If you can't over the short and long-term, are not benefiting from the education financially and professionally, there is hardship that can be clearly demonstrated that satisfies the system upon review, then I will help if a case can be made for one or any number of benefits and opportunities, as long as he or she is doing what is right - for him or herself.
Limitation issues are one of the most complex puzzles in respect of any debt-related matter. It is not something that a student loan borrower can achieve on their own. A person who owes a debt has many disadvantages and obstacles in their way, even if they have a clear blueprint or map of where that treasure is hidden. Just because one law says "6 years from this or that" or "no limitation after which ..." it doesn't mean that benefit and opportunity is closed off and no longer available. The system has this incredible ability to use power and money at it's own discretion to impose its will and essentially violate you and perhaps your legal right simply by twisting a law around, or making an interpretation without sound legal ground so as to say "well, a white cow is a brown cow, and because we say a white cow is a a brown cow, that is what it is."
Getting past this is what I do and I am expert at that. This is where the work is most labor intensive in certain cases.
Some of this stuff and examples of it is etched out on The CFW Group's Facebook page.
|
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 01/April/2016 at 2:31pm |
Back in the 90s, those were two very distinct loans (Provincial, Federal) with Royal Bank that I was paying well, until I returned to school, and then they lost the document of continued studies early in my final year. When the collection agencies began chasing me, it was very unclear what it was they were actually collecting - what part of the many pieces they were collecting. It would very very easy for ANY person to walk away believing that everything was paid, and be surprised years later to discover that there was still one piece unpaid.
I repeat what I said earlier on in this thread: You will need professional help to confirm this but your federal loan is likely statute barred.
No person, whether or not they are at fault for their defaulted debt, should willingly place themselves in a position where legal action can be taken against them, if that action can be avoided through limitations.
Even if protected by limitations, I believe a person able to pay should pay, however they should approach it intelligently so that they don't cause themselves unnecessary damage.
|
|
SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
|
Post Options
Thanks(0)
Quote Reply
Posted: 03/April/2016 at 7:06am |
The risk-shared system was not transparent, and the recovery practices quite deceptive by third-parties. If the system failed you and caused the problem of default then they are accountable. Unfortunately, also impervious to the consequences that should have befallen them. The government is behind them and in bed with them so there is a lot of muscle, that being power and money.
I limitation issue is a benefit and right to anyone it applies to.
|
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
|
|
administrator
Admin Group
Joined: 25/January/2003
Points: 1798
|
Post Options
Thanks(0)
Quote Reply
Posted: 03/April/2016 at 9:07am |
Back in those days the Student loan system was notorious for losing loan documentation and then trying to collect.
|
Administrator Mark OMeara Author of Let Go and Heal: Recovery from Emotional Pain https://LaughSingWrite.com - http://bit.ly/heal2024
|
|
Royal-NCO
Groupie
Joined: 17/March/2010
Points: 244
|
Post Options
Thanks(0)
Quote Reply
Posted: 03/April/2016 at 10:06am |
Actually, I collected those loans in the mid 90s, paid well for a while, returned to University in 2002. They lost the returned to school documents in 2005 ( I think - losing track of dates). Years later, I realize now, that likely happened when Royal Bank handed over its student loans management to an outside agency. I didn't realize that agency change had happened until a couple of years ago while reading about it here.
|
|