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I have student loan in 1995

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OldCanadianGuy View Drop Down
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    Posted: 03/April/2019 at 5:45pm
I have received an student loan from Royal Bank in British Columbia many years ago, almost 24 years ago.  I have moved probably 20 times in that time period, from countries to provinces.     I have had no contact what so ever with anyone regarding this student loan.  I am wanting to know i have not seen it show up on my credit report at all, i have not see or heard from anyone since that time.  I am curious what is the status of it, please let me know how can i verify its over with or i still have it, and what i need to do to clear it up
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 10/April/2019 at 4:12pm
You can order your credit report from Equifax.ca    That will show if it is on your credit report. It should have dropped off by now after 6 years of inactivity.

Your loan is likely statute barred and un-collectable....  Under no circumstances should you contact Royal Bank as they will try to get you to acknowledge the debt, which would cause you to lose the "statute barred"  status.


Let sleeping dogs lie.


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Mark O'Meara

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 11/April/2019 at 4:04pm
A limitation issue depends on a number of factors and not just the basic ones, such as age, last payment, prior or recent acknowledgment, etc. There are things that could disrupt a limitation issue and it's running due to a host of reasons. The law is one aspect - but there are things that fall into the categories that define acknowledgement or activities that borrowers are not aware of that cause disruptions, resetting, and even exempting from a limitation period that was once there. There is a number of circumstances. 

A credit report does not present any information that implies or even applies to a limitation issue. Credit reporting law and its limitation period applies ONLY to the time in which a debt can be reported. If a debt is "discovered" to be legally recoverable it can be implemented back onto a credit report, for instance. Federal, Provincial, even standard consumption debt if that is the case. 

People are fearful to poke around about this matter with student loan providers and rightly so. This is why it is important that it be done professionally by someone who can minimize the risk to you and ensure that safeguards are in pace. Solve Student Debt does for people who seek out and deserve the benefit. Admin, you can't assume a debt is statute barred for any reason because if it is not then there is a bigger problem to worry about. Getting into the system, loan profile, and data is what determines if there is, is not, will be or will NOT be a limitation issue. Times have changed. 

This is all about awareness right here. :) 



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

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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 12/April/2019 at 5:21am
OldCanadianGuy,

John is absolutely right... if you want someone to research your loan on your behalf, I suggest you contact John at solvestudentdebt.com

Mark
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