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Letter from a Lawyer

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pamala20 View Drop Down
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    Posted: 08/March/2005 at 3:08am

Hi There,

This is my first post. I have been reading for quite sometime and have come to this website a few times for information. I am thrilled there is a website like this as it definitely makes you feel less alone.  I defaulted on my student loan after exhausting interest relief and was not able to pay what the Royal Bank wanted. Since then it has been referred to a Collection Agency.  They have been calling for four months now and I have not answered as I do not have the money to repay.  I just received a letter today from a law firm which is threatening to take litigation if I do not make repayment or call within 10 days of the date of the letter.  Well I have 2 days now and of course it also says that I will be responcible for all litigation costs.  Now I am not sure what to do. Do I call the office?  What can they do? What will litigation do? I have no assets besides a car and am raising a  three year old son.  I have a very small income and just get by as it is. I just need to know if anyone has had this type of action taken against them and what I can do.  I also would like a straight answer on what the worst outcome would be in this situation?  I am scared they will show up at my door and take anything I have--which is not much but still worried.  I am not sure if I should run for the hills or face this straight on.  Any help would be appreciated.  Thanks for your time.  Hugs to all here!

Pamela

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pamala20 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pamala20 Quote  Post ReplyReply Direct Link To This Post Posted: 08/March/2005 at 3:13am
I forgot to mention that my car is a 500.00 car which in reality should not even be on the road.  As for assets--My Grandma's ring.  I keep thinking I should bury it in the backyard just in case! ha ha  I own no property etc.  My partner works for minimum wage.  Can they come after him? We bring in maybe 1200.00 a month and 500 of it goes to rent.  I can not even afford a lawyer but they do give a half an hour free.  I just do not want to waste that 30 minutes asking questions I can find the answers too.  Any help would be appreciated.  Thanks again, Pam
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polyhymnia61 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post Posted: 08/March/2005 at 5:01am

Lawyers won't help you anyways...they really know nothing about student loans.

Read and learn...avoid taking any actions taken out of fear, because it's probably in all odds the wrong action to take. (Consumer proposals, bankruptcy, credit counsellors -- All products and services out there that aim to help are geared to consumer debt, not student loans.)

I would recommend also contacting Johnny at CWG; there is a link on the main page. He does charge, but a reasonable rate. He is the only one I have found that has any experience in student loan issues.

Good luck!

Poly

Home is where you are allowed to prosper.
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kwelmm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kwelmm Quote  Post ReplyReply Direct Link To This Post Posted: 08/March/2005 at 5:11am

Pam.....Hi....

Is this for a CSL?  If it is....is it bank risk portion or guaranteed government portion??  Who sent the letter??

Sometimes the letter is a good scare tactic....depending on whose law office it is from?  Johnny would know for sure. 

I have been served with papers from a law office (lawyer) representing the HRDC.  Basically, if it comes down to litigation...the lender is usually looking for a garnishment of wages because it is the most effective way for them to recover their funds.  I doubt anyone will be at your home to try and recover anything....so, relax on that one .

They can not come after your partner.

I hope this has been helpful.

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pamala20 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pamala20 Quote  Post ReplyReply Direct Link To This Post Posted: 08/March/2005 at 12:41pm

Thanks so much guys, This is for my Student loan but I am not sure which portion. I think its my CSL as my BC student loan is with someone else.  You have been very helpful.  The letter is from Hunter Miller Law office based in Saskatchewan and says, " I have been retained by Federal Credit and Consulting Corp, Collection Agents for Royal Bank of Canada. They advise me you are seriously delinquent in your payments, and have therefor requested payment in full of your total indebtedness. If you wish to stop this process you must do one of two things todays:Remit the full balance or call

 

blah blah blah...and then I formally demand payment. It this sum is not received in our office within 10 days of the date of this letter, my client may exercise its option to commence litigation. In addition you may be reponcible for the costs of this action, which will be added your present obligation.

 

That pretty much covers it.  I would have been better off not going to university, and working full time for minimum wage.  I never dreamed this was part of the plan.  It is amazing what I thought life was suposed to be at 21 and what it is now.  I had amazing credit while in school.  I have never missed rent since I was 16 years of age.  I have never missed any of my payments and was willing to work with the bank to work out a repayment schedule I could afford.  They wanted to much. I told them I could not pay and now I have no credit. I have written human resources, the Finance Minister and all I got was were sorry and too bad.  Education should be a right not a privelage!  I went to get an education so that I could further myself and all I have learned is that I would have been better off without it!

Unfortunately Smarts do not matter when you need to survive and money is all that matters. 

i am done venting for now.

Hugs, Pamela

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KimM View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote KimM Quote  Post ReplyReply Direct Link To This Post Posted: 16/May/2005 at 3:17pm
I just got one of these letters too and would like to know how to proceed. k
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pamala20 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pamala20 Quote  Post ReplyReply Direct Link To This Post Posted: 16/May/2005 at 6:59pm

Hi There,

I ignored it completely and never received another letter from the office. I have been told by a few people its used as a scare tactic. I think my loan was becoming stats barred because they have stopped calling(Collections). They called everyday for almost a year and now I have not had a call in  three weeks. It kind of scares me because I do not know for sure why.  I did receive a letter saying they were aware that I was employed (NOT TRUE) and wanted repayment....As I am not employed, I know they are trying anything at this time.  Anyway I hope this helps.  I have never heard anything since the initial letter but if anything changes on that, I will post.  If I can be of any help just let me know.  I know its hard to go through!  Pamela

 

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Johnny View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 16/May/2005 at 7:09pm

 

 Pamela,

 if you want help getting this issue solved, give us a holler. You would have to become a client to recieve assistance but if you want it, it is here.

 Johnny

 www.cfwgroup.ca

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KimM View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote KimM Quote  Post ReplyReply Direct Link To This Post Posted: 18/May/2005 at 4:37pm

Pamela, thanks for the offer of support; your knowledge was hard won I appreciate it.  It has been four years since I finished at UW.  Royal Bank used Nordon at first.  Nordon got $250/month from me for a few months until I was laid off and then I refused them acknowledgement.  Now at $11/hour with only a "temporary/part-time" status, I can't see making payments at all.  As a matter-of-fact, at 48 with a teenager daughter, I  can't see making payments ever.  But at least I have some kind of job, however mundance and humiliating it is I don't want to lose it.  The problem is, when I phone them, do I have to reveal where I work?  Oddly enough, I handle confidential OSAP info; I am sure I would lose this job if they contacted my employer.


Thanks everyone,


Kim



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