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Statute of Limitations & Bank Risk Student Loans

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bladerunner View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bladerunner Quote  Post ReplyReply Direct Link To This Post Posted: 14/January/2018 at 12:40am
The cra-rso for most provincial debts owed to the crown can be collected using that program indefinitely, but not for federal student loans it ends after 6 years.  I think like you said in another post a while back that someone will have to challenge that in court to set a precedent and get it changed. Only bankruptcy or a consumer proposal can stop the offset of refunds at this time I believe.
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iihonest View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote iihonest Quote  Post ReplyReply Direct Link To This Post Posted: 25/January/2018 at 2:41pm
Hi, I have a 10 year old student loan from bc and Canadian govt. I have no way of paying the loan back. I have considered bankruptcy since my credit rating is so low due to the loan. Its not the option I would like to go I had to do that years ago and with my financial situation looking grim in the future I contacted both the cbv collections for provincial loan and the Canadian govt. They are both sending me forms to fill out one for hardship (Canadian) the other from CBV is financial report. If I fill them out and return them then I am claiming and restarting the 6yrs from what I am understanding.  If I dont do anything about these loans my credit score will always stay horrible :S suggestions pls. I acknowledged a payment in 2012 on the bc loan however this is year 6 in may if that makes a difference. I am at a loss at what to do I am in such a bad spot and would just like to clear this up to get a little bit of credit and maybe reducate myself with the potential to actually work;S suggestions welcome. thank you in advance
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Post Options Post Options   Thanks (0) Thanks(0)   Quote tlg Quote  Post ReplyReply Direct Link To This Post Posted: 26/January/2018 at 6:37pm
Bladerunner: the article you refer to entitled "A Question of Fairness" written by the Saskatchewan Ombudsman refers to overpayments collected by the Ministry of Social Services from Income Assistance clients. It has nothing to do with Student loans let alone RSO, and that link is https://www.ombudsman.sk.ca/uploads/document/files/a-question-of-fairness-en.pdf. Please try to post accurate information and if there is a direct link to an article, share it in your post. There is too much confusing information for overburdened people out there already. Thanks.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bladerunner Quote  Post ReplyReply Direct Link To This Post Posted: 29/January/2018 at 6:19pm
If you read what I wrote, you would see that I stand it was a article that was written about social services by the Saskatchewan ombudsman, as it had to do with the car-rso program also.  As we are talking about the Car-rso program which applies to all crown debt, but each department has different rules and acts regulating them.  As far as the student loan program goes the Cra-rso program cannot be used after the SOL has expired, but not so for other crown debt, I hope that clears thing up for you.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bladerunner Quote  Post ReplyReply Direct Link To This Post Posted: 29/January/2018 at 6:26pm
Also a large portion of the article is about the Car-rso program the ombudsman even states that he finds the legality of using the Car-rso program after the sol expired as questionable and says its trying to collect debt through the back door when it can't through the front.  Thats why I brought up the article, because the ombudsman has the power to give advice to change legislation to law makers, which it does at the end of the article whether they heed that advice is up to the government.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bladerunner Quote  Post ReplyReply Direct Link To This Post Posted: 29/January/2018 at 6:27pm
CRA_RSO I don't know why it keeps changing to car-rso sorry.
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