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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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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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Post Options Post Options   Thanks (0) Thanks(0)   Quote westcoastdee Quote  Post ReplyReply Direct Link To This Post Posted: 19/April/2019 at 1:04am
Hi!
Just found this site and I was hoping I could get some clarification.
After checking my credit on credit karma I saw a $20,000 debt which looks like a student loan that went to collections in 2017. I havent been to school since the late 90's and from the looks of things I stopped paying in 2004. 
Am I correct to assume that any ontario student loan can be collected at any time no matter how old and even though I have had no communication with any collectors?
Is it a good or bad Idea to get an equifax credit check??
Thanks!

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 26/April/2019 at 7:39pm
There are exceptions for Ontario student loans, and limitation issues are quite complex. Assuming anything is never a good idea when it involves Ontario student loans - or federal for that matter. 

If you are looking for coaching and advice about how you should approach this situation it is not something that can be done on a public forum. If you want to book 30 minutes ($30.00 CAD) or an hour ($60.00 CAD) to speak with someone, you can send an email to admin@solvestudentdebt.com to book an appointment for a time that works for you. 
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 LisaSSD Quote  Post ReplyReply Direct Link To This Post Posted: 29/May/2019 at 1:41am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pseast Quote  Post ReplyReply Direct Link To This Post Posted: 31/July/2019 at 8:02pm
Hi there,

Federal statute of limitations on student loans: 6 years

I am curious about the limitations on Federal student loans. If I have been out of school for 7 years does that mean it is past the statute of limitations?

I hear I can now apply for bankruptcy or file a consumer proposal now that I am 7 years out of school. But do I need to wait another 6 years for it to be past the statute of limitations?

"Income tax or GST rebate seizures are not admissions of liability." In other words not considered acknowledgment, right?

Thanks for the help.
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