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sunflowerkissed View Drop Down
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Joined: 28/July/2017
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    Posted: 28/July/2017 at 7:34pm
Hi there. I know someone who just received a "demand letter" from a 16 year old student loan. I believe it's from "Revenue Services BC". It's from a RBC loan and states that she repay loan immediately or they will garnish wages. It had the name of her employer on it but it wasn't clear if they are really going to. It stated that it will take 30% of her net income. She thinks that they are going to start garnishing right away and thinks that her employer received such a notice. It's strange. I'm trying to help her but I heard that you have to be taken to court before any garnish can happen and aren't the loans too old?? She can't afford them at all. Please help
 
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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: 30/July/2017 at 9:15am
You have to read the BC Financial Administration Act, which will illustrate the power of the BC government in that regard. They do not have to sue to enforce payment against BC borrowers. 
 there is a limitation issue then it should be investigated and an argument presented. If it is not statute barred then you can rest assured that they will figure out a way - if there is a way to force repayment. 

If your friend stands to lose a significant amount of income in an enforcement situation then it would be best to start negotiating, especially if the debt is legally recoverable. 

There is only so much I can offer you without knowing a lot of historical information that would be instrumental in putting puzzles together - and identifying opportunities. As a service provider, mediator, and interventionist for student loan borrowers (US and Canadian) I need to know what went down over the course of this 16-year default period. 

At this juncture, your friend has to make a decision it would seem. If there is a threat of wage attachment by the BC government (through Rev Services BC), then finding out if it is a "real" threat or not is important. In my professional opinion and experience, if the BC government is sending anything in writing to this effect to a borrower and/or employer, it is not something one should ignore. 
The Canadian Financial Wellness Group (CFWG)



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sunflowerkissed View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sunflowerkissed Quote  Post ReplyReply Direct Link To This Post Posted: 30/July/2017 at 11:21am
Thanks so much. I'm good at doing such research. I will look at the information that you specified. I appreciate your fast response and the valuable information on this website. I went into default myself 12 years ago. At that time student loans wanted me to quit school and start paying them as soon as I got a job above minimum wage. I sent a fax applying for interest relief and they claim it was never received. Four months later, they sent it to the federal collections branch. I decided to work full time and attend school full time for rest of my degree. I felt hooped and it took me an wxtra year to finish. best decision because I would have never been able to pay the amount owing at the time. $10,000 of interest later, I'm still paying it off and didn't qualify for any reduction. I have $9000 left. Can't wait until it's done!

If you have anything further to add about my situation, please let me know. I would be happy to partake in any service for more advice on this too.


Thanks again
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