Collection of Old - Stats Barred - Loans - Statute of Limitations question

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Statute of Limitations question

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Category: Immediate Attention and Info!
Forum Name: Collection of Old - Stats Barred - Loans
Forum Description: Post questions about old loans and Statute of Limitations Issues
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=6322
Printed Date: 27/March/2026 at 3:45am
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Topic: Statute of Limitations question

Posted By: AcadianMan
Subject: Statute of Limitations question
Date Posted: 26/December/2011 at 5:25am

My wife had a student loan from 2000 that she was unable to pay. 2010 she started working at CIBC and thought nothing of the loan because it had been so long. She worked there for 2 months with no problems, then her account was suddenly frozen. CIBC refused to release the funds unless she made payment arrangements with CBV. She was forced to make the payments while she worked there. She no longer works there, but is receiving calls from the collection agency.

Does this restart the Statute of Limitations on this loan? The way I see it is, they basically extorted the payments from her.

Definition - "Extortion (also called shakedown, outwresting, and exaction) is a http://en.wikipedia.org/wiki/Crime" rel="nofollow - criminal offence which occurs when a person http://en.wikipedia.org/wiki/Unlawful" rel="nofollow - unlawfully obtains either money, property or services from a person(s), entity, or institution, through http://en.wikipedia.org/wiki/Coercion" rel="nofollow - coercion ."

Could someone please give some clarification on this.

Thanks.

Replies:

Posted By: SolveStudentDebt
Date Posted: 27/December/2011 at 2:22am

If tyour spouse made a voluntary payment that the student loan would survive any limitations that were previously in place. When the bank arbitrarily takes money that is not an acknowledgment and does not disrupt any limitations in place.

Extortion is not the case because there is a debt, and the bank had legal right to seize any money in a bank account in the name of the debtor. The best way to have handled this was to use the limitation issue as the argument. THat would have remedied the problem.

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