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Kabar67 View Drop Down
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Joined: 09/November/2017
Location: Ontario
Points: 1 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Kabar67 Quote  Post ReplyReply Direct Link To This Post Topic: Old loan on credit report
    Posted: 10/November/2017 at 11:06am
I have been out of college for 20 year, I defaulted on my loan then as I became very ill and could not work . I thought it was gone forgive ect. Yesterday I went to buy a car and it shows on my credit as of March 2017 that I owe 12000.00. I called them and they said it’s been eleven years and they won’t take it off! What do I do it’s ontario student loan and I heard they can’t do it if loan not claimed for 7 years. I want this off my credit as I am disabled and can only make so much! How do I force them to take it off? Please help
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Johnny View Drop Down
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Joined: 05/November/2003
Location: Canada
Points: 5902 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 12/November/2017 at 11:22am
the government of Ontario can keep it on record with the credit bureau if is one that has no limitation period to it. the reason it is on your credit report anyway is to make it very difficult if not impossible) for you to go out and take out credit while an unpaid and defaulted student loan is out there. The "restrict and make it impossible for you to acquire and/or use credit because you owe money to me" mentality is the government's Modus Operandi. They all think and behave like banks. 

Demonstrate your disability and if it is something that would warrant closure or removal then you can go from there. If you want professional guidance coaching, or mediation The CFW Group Inc is here to help if you want.     
The Canadian Financial Wellness Group (CFWG)



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Royal-NCO View Drop Down
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Joined: 17/March/2010
Points: 241 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Royal-NCO Quote  Post ReplyReply Direct Link To This Post Posted: 12/November/2017 at 2:08pm
Originally posted by Johnny Johnny wrote:

the government of Ontario can keep it on record with the credit bureau if is one that has no limitation period to it. the reason it is on your credit report anyway is to make it very difficult if not impossible) for you to go out and take out credit while an unpaid and defaulted student loan is out there. The "restrict and make it impossible for you to acquire and/or use credit because you owe money to me" mentality is the government's Modus Operandi. They all think and behave like banks. 

Which is highly stupid of them.  

I was fortunate to exploit a window when my Ontario Loan was removed from my credit report.  They were about to put it on again, when I was finally able to qualify for a lower interest consolidation loan and pay the Ontario portion in full.  Actually, I paid it with my credit cards and then consolidated the credit card debt.

If there is an Ontario Loan official on here reading this, please read this key point.   By letting me repair my credit, I suddenly found myself in a position where I could pay you back, despite my loan being in default through no fault of my own!   If you destroy a person's credit, you keep them locked in a state where they will likely not be able to pay you back!
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Johnny View Drop Down
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Points: 5902 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 13/November/2017 at 9:52am
It is punishment, and a clear example of how a government is able to dole it out with tremendous ease. This "human" responsible for the creation of this policy represents one of the broken components of one government sector. This is also another reason why Canada and provinces have to really pay attention to who it is that they are hiring and bringing in. but, really, do they care? Not really. People who owe money to government and are not paying for whichever reason are looked upon as toxic to the system. So, they adapt to that way of thinking and become toxic that group of people.  
The Canadian Financial Wellness Group (CFWG)



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Royal-NCO View Drop Down
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Joined: 17/March/2010
Points: 241 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Royal-NCO Quote  Post ReplyReply Direct Link To This Post Posted: 13/November/2017 at 10:31am
Self-destructive punishment.

Locking me in a state where I had bad credit meant that I couldn't move in my career.  My education was useless because my bad credit wouldn't allow me to be employed in my intended industry.  Not only did the government deny itself the money owed, it denied itself years of income tax from me.  People who are forced into this state, often suffer from major depression, which has its own set of negative consequences which are all typically harmful and expensive to society.

Of course, the system won't take responsibility for itself.  It would rather blame the deadbeat former student, and then file many articles in one (or a few) of the major media outlets, complaining to the general public about how many billions of dollars it had to write off.

I would love to know the real truth about the status of the student loan system.  How many truly run from their debt, and how many are unwitting victims of administrative foul-ups?
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