"I would dare anyone to say that to [sic] these families faces. These are hard working people who are losing their jobs to a cheaper work force, AND a cheaper dollar. It's all about global competition. To say that these people are irresponsible for not paying their bills would be completely insame!

I hope that the creditors, credit bureaus, mortgage companies, car loan companies that have supplied credit to these Nova Scotians have special sympathy and patience for their situation."
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Are you kidding? I can see iQor, Inc formerly CBCL - Canadian Bonded Credit Limited - Now Iqor Collection Agency and Total Credit Recovery smacking their lips (or beaks) already. That is if they can get there before the Natale Law Office does.
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Amy K Posted - 5/10/2007 8:02:00 AM, discovervancouver.com

My brother just recieved a letter from Natale Law Office. They are saying he owes $850.00 to scotiabank. Which he does not. We took the letter to the bank and they are going to look into this matter. We live in Nova Scotia and they said if he dosen't pay it in 10 days he will have to go to small claims court in Ontario...Good Grief doesn't this lady have anything better to do with her time.

The facts as you've presented them appear implausible. You don't go into collections over one missed payment and a number of things have to happen before that. Perhaps, the $257 payment includes some retro payment adjustment. You won't lose your truck unless they take you to court and that would take along time. More likely, the government might put a lien against your income tax and GST refunds, since it's only $4500. That used to be a Deanna Natale specialty. Collection agents and lawyers will always bluff and bamboozle you. Maybe if you paid a $100 off for 2 more months with agreed arrangements for an increased scheduled after that, it would prove satsfactory.

Nonetheless, if you can't make the 257 a month now, how will you be able to "pay it off in full" in a couple of months.?

Whatever the case, you need to talk to someone who has practical experience daeling with student loans which no one on this site does. Perhaps Johnny over at the canadian financial wellness group can help you for a small fee or least give you some free advice. All in all, it doesn't sound like your situation is too bad, but it does need to be addressed. (Some of the people writing into their student loan forum owe 40, 50 , 60 or even 70K.)

Sorry, I can't be more specific but sometimes stuff like this has to be worked out in negotiation, and it's impossible to say what the other side will accept. Just be firm and don't let yourself be intimidated.

Being hounded by a collection agent every day? You lucky son of a gun. Wish I were in your position, but no such luck.

Ray

I have a collection agent phoning me evryday nearly over a Royal Bank student loan. I was making payments but when I switched accounts with the automatic withdrawl the bank screwed up and took my payment from someone elses account for the one loan, now they have me in collection. The agency has never sent me a letter, has thretened that i will lose my truck, etc. She asked me to make her a reasonable offer, I thought $100/month just for a couple months till i could pay it off in full. She told me that's not good enough the minimum is $257 or something. I am sick of dealing with her and now she said she will get a lawyer to sue me for the $4500 i owe them