In 1999/2000 I recieved a Student loan from the province of Alberta to attend school. In March of 2000 I was in a debilitating accident and had to stop attending. Up till 2006 I was a stay at home mom, and not able to pay off my loan. Since 2007, when I started working, Alberta Student Loans thru NCO has put a lein on my Revenue Canada benefits, including GST and any Income tax rebates I may receive. I still have my 3 children to support and I do work, but is there someway I can stop them from taking these moneys directly from Revenue Canada? also, its important to note that last year someone made a mistake and I did receive my income tax refund.
Statute of Limitations?
posted by Questions @
1 Expert Comment:
At January 11, 2010 |
1:48 pm
, Bart Goth, Trustee in Bankruptcy Said...
The Statute of Limitations only really applies if there is no action being taken by your creditors. By actively pursuing these outstanding amounts they ultimately preserve their collection rights.
So at this point if you wanted to stop them from seizing these benefits you would have to:
a) arrange a repayment plan directly with NCO;
b) obtain a consolidation loan to pay the amounts off and then continue making payments on this loan;
c) file a orderly payment of debt with moneymentors; or
d) investigate the filing of a consumer proposal or a bankruptcy.
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