Collection Agencies - student loan - Canada

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RE: student loan

Postby ChrisLong » Thu Jun 06, 2013 11:18:18 PM

You know what I can tell you, I am more and more coming to a thought that it is better to postpone my higher education. I am not talking about refusing from it at all, but I guess it is going to be wise to simply wait until I have at least half of a required amount. Because as far as I see, Student Loans (even in Canada) are such a big problem for everyone. I am currently investigating a lot of info on this matter and all I get to read is unsuccessful stories for most of the part. And this is very sad as I get more and more confused. I do not really know what is cash advance precisely, but looks like this service is way more reliable anyways!
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RE: student loan

Postby jennyarnol » Tue Aug 28, 2012 04:21:08 AM

Stafford loans are long-term, low-interest loans regulated by the federal government. They are given to students and must be repaid with interest following the completion of their education term.
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RE: student loan

Postby christinag » Wed Apr 27, 2011 03:57:06 AM

Why don't you get help from financial assistance?
Student Loan Guide - > Student Loan
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RE: student loan

Postby footloose » Wed Mar 09, 2011 04:45:09 AM

As I stated in a previous post, if the Canada Revenue Agency is going to withhold future income tax refunds and your quarterly GST payment, then cease making any further payments to NCO Financial. Having said that, be aware that the CRA could also garnishee your salary or wages, but this is not their normal practice. Garnishment procedures are usually only made where the taxpayer has a very large unpaid income tax liability, not an unpaid student loan.

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RE: student loan

Postby CHARM082 » Tue Mar 08, 2011 06:53:04 PM

thank you. In reference to contacting revenue canada, when i tried to contact revenue canada about my student loan, they re-direct me to call NCO financial. When i first receive a call from Nco i was given the option to fill out the repayment form, and based on my income I was advice to paid $40.00 a month, Which was paid, the next year, i was told that the government no longer offered the repayment option instead they will hold my refund.

Each year, when income tax is due. I received a letter from revenue canada, stating that the my refund may be withheld, if payment is not make, yet the government take my refunds, and i am still paying every month, So confused. please advice
kk
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RE: student loan

Postby footloose » Tue Mar 08, 2011 04:48:49 PM

The program that you are referring to is called the Repayment Assistance Plan.

Here is the website

http://www.canlearn.ca/eng/after/repaymentassistance/rpp.shtml

And yes, if you are paying down your student loan each month, the Canada Revenue Agency can withhold both your income tax refund as well as your GST quarterly payment cheque. If this is causing you financial hardship, then cease making your monthly payments. The downside risk to this is that the CRA may ( not will ) garnishee your salary or wages.

Contact your local CRA office and set up an appointment to discuss your situation. See if they will agree to unfreeze your income tax refund cheque together with your GST quarterly cheque in return for you making monthly payments. If they won't accept your offer, discontinue making your monthly payments.

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RE: student loan

Postby CHARM082 » Mon Mar 07, 2011 08:46:34 PM

Thank you very much. I believe at one point for student loan, you could have filled out a financial assessment application, so they can access the size of your family, in order to determine the monthly payment that should be made for your studdent loan.

Plaese advice, if you're paying on your student loan every month, can the govenment still hold your taxes refund?
kk
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RE: student loan

Postby footloose » Mon Mar 07, 2011 05:35:28 PM

Contact the Canada Revenue Agency for a status update on your student loan. As long as there is an outstanding amount, don't expect a tax refund anytime soon.

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student loan

Postby CHARM082 » Mon Mar 07, 2011 04:41:46 PM

i got a student loan back in 1998. I was on interest free for 6 month, i would normally applied and the application for interest relief would be approve. My last application, i sent in to cibc was acknoweldge,, but and for some strange reason i did not get a reply from cibc. Things got really hectic for me, i moved from my mother address,forgot about my interest relief application, cibc did not send me any correspondence about the application, my address ddid not change, even though i moved. About in 2004 i got a call from a collection agency stating that i owe money for my student loan. i made arrangement with them to start paiding them. Payments were been made, as agreed, until one day i call the collection agency to find out that the peson that i made the arrangement with no longer work there, they had no idea about my payment. I spoke to a supervisor and he ask me to stop the monthly payment from my bank, and hopefully i will received a call from the agency who is taking the payment. no one call me, then i received a letter from canada revenue that my tax may be with held, i contacted nco financial they told me that they were instructed by the government to hold my refund. I start payiing them $80.00 a ,month but they still keep on taking my refund, for 2 years know. The money that the student loan gave me back in 1998, i am paying back way mopre that waht they gave, please advise how i can keep some of my refund back
kk
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