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banana_19 View Drop Down
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    Posted: 13/August/2005 at 12:08pm

I graduated from a University in Canada and incurred about $50,000 in student loans from Royal Bank.  I have recently moved to the United States and married a US citizen.  In a year I will go for my US citizenship.

I do plan on paying off my loans and I have even started a small bank account that I am adding money to that will go towards my student loans.

My question- I don't plan on living in Canada.  I do have family still in Canada so I will still go back to visit.  If I stay in the US can they do anything to me here?  Such as garnish wages or taxes?  Can they take me to court?  Put a warrant out on me so when I come home I could get arrested?  Can they really do anything to me?  I'm getting a little nervous because I just had a debt collector call me.  He's even called my work.  Can he get me in trouble with work?

Thank you in advance for your replies.  My wife is really nervous and I would like to assure her that it's ok.  Beleive me I do plan on paying off my loans.  Morally I can't let that kind of money just slide.  I'm just not at a point in my life to start paying on it.  Thank you again.

B

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Mersan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mersan Quote  Post ReplyReply Direct Link To This Post Posted: 13/August/2005 at 3:50pm
If you are eligible to apply for citizenship then you have been in the US probably 5 or 6 years.  They seem to get unreasonable when the loan is close to the 6 year range.  They might try and get a judgement but that is about all they can do. 
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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: 13/August/2005 at 4:29pm

If there is an avenue of ltigation against you, they can try to excercise it. If you are gainfully employed and it can be determined that you can pay, and are not, then they have a good chance to enforce.

 So, they can excercise their legal rights, and they can bring you to court providing that it is all done in accordance to all laws. However, they cannot arrest you or charge you with any criminal activity because you owe a student loan. If this were the case then 22% of the Canadian population would be either in jail or incarcerated in some fashion simply because they have student loans and are unable to meet the financial demands.

If you would like help, give us a buzz.

Johnny

www.cfwgroup.ca

www.cfwgroup.ca/forum

 

 

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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saskgirl654 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote saskgirl654 Quote  Post ReplyReply Direct Link To This Post Posted: 26/August/2006 at 1:10am
Not sure, but move to Korea and they can't do anything unless they learn to speak Korean. Move to china, or Japan, it's about the same.  Save the money and go back and speak on your own behalf.  Atleast, then you can keep your dignity. 
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Buff View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Buff Quote  Post ReplyReply Direct Link To This Post Posted: 28/August/2006 at 3:18pm

As days pass, more and more people in these countries learn to speak English. Maybe a collector can't speak their language, but there's a good chance they'll find someone in that country who speaks English. Also, remember that Canadian collectors are often in Toronto, so who knows what they speak. English is what they use to deal with you, but many know another language or 2.

Buff

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bruticus75 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bruticus75 Quote  Post ReplyReply Direct Link To This Post Posted: 06/September/2006 at 5:33am
Wow they called your work? Are they allowed to do that?
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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: 12/September/2006 at 4:16pm
Whether or not they are allowed, they do it anyway.

Johnny
   

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Post Options Post Options   Thanks (0) Thanks(0)   Quote mjphillips Quote  Post ReplyReply Direct Link To This Post Posted: 19/February/2007 at 7:17pm
in reply to the first post.

your credit rating in canada may be screwed, however your credit rating does NOT follow you to the USA, and most places will not accept it as such. They have thier system and canada is its own.

another post in here, to can they call you at work,

no, and if they do depending on the company you can talk to your supervisor and tell them whats going on, and they can possibly act on your behalf as an employee to stop harrassing their employee.

you see, creating stress for an employee lowers their productivity, and they dont want that.

MJ

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bankrupt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bankrupt Quote  Post ReplyReply Direct Link To This Post Posted: 12/June/2007 at 5:32pm
CAN YOU DECLARE BANCRUPCY FROM THE STATES? I NO LONGER LIVE IN CANADA AND HAVE ALMOST 60,000 CAD (IN CANADA) AND 130,000 USD (IN US) IN STUDENT LOANS TO PAY BACK WHICH IS KINDA TOUGH. ANYONE KNOWS? I MAKE MONEY OK HERE BUT NOT THAT MUCH TO PAY ALL THAT BACK. THANKS...........
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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: 12/June/2007 at 6:08pm

Anyone can declare bankruptcy. No one can guarantee youthat the student loans will be discharged - in Canada and USA.

Johnny
 
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote bankrupt Quote  Post ReplyReply Direct Link To This Post Posted: 14/June/2007 at 11:37am
thanks for that Johnny ...Can I declare bankruptcy of my Canada student loans if I no loner live in Canada? Is it posible from abroad?
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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: 14/June/2007 at 4:02pm
Again, anyone can declare bankruptcy. No one can guarantee that they will discharge. Bankruptcy on american soil is still bankruptcy.
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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evolutionrules View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote evolutionrules Quote  Post ReplyReply Direct Link To This Post Posted: 31/August/2007 at 11:16am
What kind of success rate have people had negotiating small percentage repayments?  Friend told me of 10 cents on the dollar.  He also told me they proably wouldn't collect on me in US because it would cost too much?  Any ideas?
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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: 31/August/2007 at 7:27pm
Depends on who you owe, how much you owe, and if the balance is sgnificant enough to warrant enforcement procedings, how much your loan provider would want to make an example out of you. Each case is unique.
 
Johnny
 
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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maligned View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote maligned Quote  Post ReplyReply Direct Link To This Post Posted: 15/October/2007 at 3:47pm

Hi,

 

I am in a very similar situation to the individual in the original post.

 

I have also just moved to the US while owing approx. $40K to the Royal Bank of Canada in the form of a student line of credit. I took out this line of credit in the fall of 2003 and have been paying roughly $250 of interest monthly for the past 4 years (not touching the principal). Therefore, I have so far paid roughly $12 000 and still owe the original $40 000!!!

 

As I tend to get my Canadian mail a month late these days, I belatedly received a letter stating that as I am clearly no longer a student (this is correct, I graduated  in the spring of 2005 and have been out of school for the last 2 and half years), I would now owe nearly $565 a month for the next 10 years. By my calculations, this means that I would end up paying $80 000 for a $40K loan (not adjusted for inflation). This seems like usury to me, but maybe that is just how it works for student lines of credit.

 

Anyway, I digress. As I am a dual citizen, I could technically never return to Canada and never concern myself with this issue again or I could declare bankruptcy (not sure which option would be best). But as I am a fundamentally ethical person who has been unable to find meaningful employment in the past 2 years (which is why I moved to the US), I am looking for a way to negotiate a serious debt reduction and repayment plan.

 

I know the bank will not volunteer any useful way for me to reduce the amount outstanding and am wondering what is my best approach to resolving this matter in a way that will satisfy the bank while allowing me to move forward with my life? Can I ask for some debt reduction, can a get what I have paid so far put against my original loan, is there a government program that can help, or is there some other option I am not aware of?

 

This situation is extremely disconcerting and I canít seem to find a workable solution that doesnít involve defaulting or bankruptcy. Any advice would be greatly appreciated.

 
Many thanks.
 
M
 
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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: 15/October/2007 at 6:53pm
If you want help with this, call us. Advice is not going to solve your problem - nor will bankruptcy.
 
John
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Eugene Quote  Post ReplyReply Direct Link To This Post Posted: 23/October/2007 at 5:40pm

Hi there,

I was wondering if anyone can advise me on this. I was an international student in the USA in 2001, and did not pay tuition for 1 semester. At the end of that year I immigrated to Canada, and never heard from the school (they did not know where I was).  When I phoned the school for my transcript, I was told that I owe $5900 US which came as a surprise to me. Before they told me that, I gave them my current address, and now I just got a letter from a collection agency in the states.
My question is, does SOL in IOwa (5 years) apply to unpaid tuition? And, can a US collection agency do anything to me here in Canada? I have good credit here.
 
Thanks anyone for your Advice!
Eugene
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Post Options Post Options   Thanks (0) Thanks(0)   Quote markomeara Quote  Post ReplyReply Direct Link To This Post Posted: 24/October/2007 at 8:57am
can you explain why you havent paid it back?
Mark Linden O'Meara
Founder of Canadastudentdebt.ca and author of The Feeling Soul - A Roadmap to Healing and Living
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Andy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Andy Quote  Post ReplyReply Direct Link To This Post Posted: 27/October/2007 at 5:31pm

Hi,

Your story is similar to mine, I moved to US in 2001 and now married with children. I contacted RBC when I moved and continued paying my loan. It seems that, this student loan will never be paid off. I still owe them $5,500. Joj situation and financial difficulties have forced me of making payments for the past few months. I wonder what would happen as I called them and explained my financial difficulties. The RBC agent said, I can not apply for loan forgiveness becasue I am not living in canada anymore. I wonder if you could resolve you loan problem. any advise is greatly appreciated.\\Best regrds,

Andy.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote sher_45 Quote  Post ReplyReply Direct Link To This Post Posted: 28/January/2008 at 7:37pm
Wow, I am in EXACTLY the same boat as you!  I came to the US when I was 18 and got my education here while using Canadian Student Loans.  I'm not married, have a child, a house, and a job that unfortunately does not pay me enough to afford the $400 student loan that I'm required to pay each month.  I'm not planning on going back to Canada, ever - I've now been here for 12 years!  I've made payments each month for the past 6 years but now with our economy, not to mention my expanding family - it's getting to the point where it's nearly impossible to pay that amount.  And yeah, the intrest is INSANE!!!! 
 
I want to default already, but I'm not sure how that would affect me.  I too still go back to Canada from time to time to visit family.  Advice, anyone? 
sher_45
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