Alberta & Canada student loans, Statute of limitations?
Is there a statute of limitations for Alberta/Canada loans? Taken out in January 1999, last payment made September 2005, still owing amount monies.
Please advise.
The statute of limitations on provincial or student loans are supposedly 10 years minimum but some say they are forever collectable. I learned this the hard way.
Once they go into collections at HRSDC they will start sending you monthly statements with fields that show the total existing debt, minimum monthly payment and interest rate and amount.
If the minimum is too much for you to pay, call the number on the statement, I believe it's in Edmonton and make arrangements to pay.
If you do not pay it, all things taxable will have a lien on it. GST rebates, tax refunds, you name it. They'll get first pick.
It cannot be included in a bankruptcy.
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The statute of limitations on provincial or student loans are supposedly 10 years minimum but some say they are forever collectable. I learned this the hard way.
Once they go into collections at HRSDC they will start sending you monthly statements with fields that show the total existing debt, minimum monthly payment and interest rate and amount.
If the minimum is too much for you to pay, call the number on the statement, I believe it's in Edmonton and make arrangements to pay.
If you do not pay it, all things taxable will have a lien on it. GST rebates, tax refunds, you name it. They'll get first pick.
It cannot be included in a bankruptcy.
References :
November 22nd, 2008 at 1:40 pm
I had an Ontario/Canada student loan in 1972. In 1989 I bought a house and my student loan came up as a lien against the new property — so that’s 17 years……..
References :
November 22nd, 2008 at 1:58 pm