2unrelated topics, confusion
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Forum Name: Describe your Debt Load!
Forum Description: Post stories of your debt and how it affects you and your family
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=2946
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Topic: 2unrelated topics, confusion
Posted By: dujylyn
Subject: 2unrelated topics, confusion
Date Posted: 23/August/2005 at 12:00pm
hi one and all, have not been here since the "cat food lookin good, bankruptcy discussion". it took 8 weeks after i was laid off to get my EI rolling and I am just starting to catch up on regular bills, never mind the mind boggling 60,000 student debt. When i was layed off I told the 3 collectors that i am currently unemployed and will contact them when i am able to make a payment arrangement but i suppose they believe phoning me daily will miraculously change my financial situation. so, i simply do not answer their calls.
Yeah, yeah i know, burying my head in the sand won't fix it (as tempting as it is) so here's the plan....i deal with one of these bozos (oops, i mean collection agents)per week. this is all i can handle. i am fine on the phone but majorly depressed after each conversation. currently 2 down and one to go. 1)BC Rev Services sent a financial statement and offered to "set the loan aside" until i am employed again, altho interest will continue to accrue. okay...seems fine, do i really have to put my bank account info in there tho? scares me more than a little. 2)Fed Credit (Royal Bank)....want me to borrow 20 bucks from friends or family to make an immediate payment, said no, poor me, i have no friends or family but will send you 20 mid sept when i am caught up. they have not called since (excuse me while i find some wood to knock on)3)next week....
okay, i need some feedback, support, comments. am i on the right track? I figure my budget allows about 75.00 a month for all of them, assuming nothing goes wrong...certainly makes payments minimal but something nonetheless. it is the only way i can think of to stop this overwhelming hopeless drowning feeling. is doing this going to make things better or worse when i return to work? is there no clear cut route thru this maze?
on another note, how come no one ever discusses loan remission? i went to all the loan workshops before i began my education. the understanding was that if i kept my end of the deal (timely and successful completion), i would be entitled to loan remission. in other words, there would be a cap on the amount i ended up owing. Well, i kept my part but 2 years into my degree, loan remission was abruptly pulled. What to do? stop going to school before the degree is done and get no remission because i have not completed? or finish 2 years at full price and at least recieve remission for the years before? i chose to graduate...come what may and here i am.....
i know that i am not the only student to be caught in this loan remission bind. is there any possibility that this issue could give students some legal leverage, misrepresentation of educational amounts that we would owe or something?
my advise to all others out their wandering this maze: maintain and nurture your sense of humour at all cost.
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if you cannot be a good example, you will just have to be a horrible warning
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Replies:
Posted By: dujylyn
Date Posted: 25/August/2005 at 8:10am
okay, so my post was boring, same old, same old....blah, blah, blah...guess the only people who want to talk to me are collection agents
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if you cannot be a good example, you will just have to be a horrible warning
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Posted By: nago
Date Posted: 06/October/2005 at 7:03pm
1) dont give em any info especially your bank account info
2)pay what u can afford
3)how bout interest relief ?
4)borrowing can help u later on... i borrowed 200 bucks a month when i
had no income just to keep my loans --then i applied for debt reduction
and got over 20k knocked off my loans
5)debt reduction might help ?--read section on debt reduction i posted
a million times there when i was going through the same hell as you
evad.gov.bc.ca ->debt management tools
6)document everythng stay organized and photocopy anything u send in
7)or contact john leblanc he is a master
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Posted By: dujylyn
Date Posted: 07/October/2005 at 6:02am
Thanks Nago,
Your 1, 2, 3 format is very comforting...makes it seem possible to get through all this. Recently, i have gone through a time of feeling hopeless but am feeling stronger again. many thanks to the supportive members of this site.
1. never have given them this info. one agent said, "we can find it all anyways" I said, " go for it, it will give ya something to do, besides calling people". However, there seem to be contrasting views on this site about this. when is this refusal "non-compliance" ? can it come back to bite you?
2.I continue to do so, despite complaints that it is not enough.
3. interest relief is not an option because I filed for bankruptcy 2 years ago... have checked into changes and I do not fit into my provincial time line for regaining interest relief.
4. I am assuming you mean keeping your loans from collections. it took a long time to find my loans after release from bankruptcy and by that time they were in 3 different agencies.
5.debt reduction: applied for and got provincial loan remission for hte years before they pulled it but will head directly to your postings and see what i can glean.
5. great advise
6. definitely consider it
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if you cannot be a good example, you will just have to be a horrible warning
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Posted By: administrator
Date Posted: 07/October/2005 at 6:19am
Dont just consider it... do it....
Trust me on this one! Time and time again I hear "If only I had called Johnny sooner!"
It will only take a few minutes and he can fill you in on what he can do... the phone call costs pennies...
Mark
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