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Canada Studen Loan - 1984

Printed From: CanadaStudentDebt.ca
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=6548
Printed Date: 27/March/2026 at 3:58am
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Topic: Canada Studen Loan - 1984
Posted By: Pavel84
Subject: Canada Studen Loan - 1984
Date Posted: 06/November/2012 at 8:18pm
Looking for a bit of guidance.
 
I originally had a loan in 1984 for about $4000.
 
This loan went into default and a Judgement was issued in '89.
 
Over the years I have attemped to settle this, but each time I had to deal with a different agent who gave me different rules that they said I needed to follow. The last one, ageed to a series of settlement payments and would send me a discharge letter. After a series of payments and no letter, I was told that the agent was no longer there and also had no authority to make such an agreement. Eventually I just gave up. This was about 15 years ago.
 
Since then, every year I lose my Income Tax rebate to pay this loan wich was judged at 13% (the rate then). I now have monthly interest of about $50 and over the past 25 years have paid back more than $30,000.
The loan office only contacts me at tax time to inform me that my income tax rebate will be diverted or to notify me of a new "fee" or "interest" that has been added.
 
I recently contacted the canada loan office and was told that I still owe more than $5000.
 
How do I approach this to:
 
1. Have the old debt gone.
 
OR
 
2. Get the interest reduced to a minimize the amount that continues to accrue.
 
Thanks for your insights,
 
Pavel
 
 



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