by overdidit » Wed Apr 14, 2010 07:04:49 AM
Hello one and all,
I have a big Quebec outstanding student load of approx. +30k. The loan was taken out in the mid 90's. I have since then paid back some of the loan on an on and off basis depending on my financial situation. The last payment I made must of been early 2000 or so. I had health issues around that period and my finances have been a disaster since .
About 6 months ago, out of the blue, IQOR called and left a msg. Well, after reading up about them on the internet and not having funds to give, I still haven't called them back. Now, of course, they call several times a day which is annoying.
I checked my credit and it hasn't been affected in any way since this all started half a year ago. Is this because I haven't spoken to them?
I have been a resident of BC for the past few years and since I incurred this debt in Quebec, can IQOR come after me? Is this why there is no report on my Equifax credit? Or do IQOR deal only with TransUnion?
And, if so, can they somehow take my house which is in both my wife's and my name...
Any chance of this debt getting written off somehow?(deadbeat question but I had to ask)
I have very little to no means of being able to make payments right now.
Will they take whatever I offer and have to be content with this until I can do better?
I'm married and can a collection agency come after my wife somehow?
Last but not least, will they perhaps come to an agreement on a payment of 10-20 or whatever cents on the dollar payment in one lump sum?
I realize that some of you will give me flak for asking some of these questions but sometimes not only does life force one to do things they are not proud of but the left curves come too quickly one after the other...
I have heard that student loans have a very high rate of defaulting in Canada and do they fall in a different class vis-a-vis collection agencies...are there some hard numbers I can find somewhere?