I have a student loan. about 7800 dollars....14 or so years…

Hello,

There is no Statute of Limitations (SOL) for Student Loan Debt in Ontario (or Nova Scotia for that matter) for Provincially Guarenteed debts. The other limitation periods are as follows:

Making a payment is acknowledgement. Income tax or GST rebate seizures are not admissions of liability. Submitting their financial forms is acknowledgment, and so is anything issued to them by you in writing, whether it contains a promise to pay or not. a Bankruptcy assignment is acknowledgment, and so is any communication in writing or through disbursment by the trustee.

An action commenced by the department of justice is a forced acknowledgment and is commenced by the Attorney General's office to prevent a limitation period from disarming the Crown from taking action in the future (providing the action is taken prior to passing of the prescribed limitation period).


Limitation periods:

Federal: 6 years

Provincial guaranteed loans:

BC: 6 years
AB: 6 years
Sask: 6 years
Man: 6 years
Ont: No limtations binding the government of Ontario from recovering money owed
Que: 5 Years (10 years if final demand document is signed and issued by representative of the Minister of Finance)
NB: 6 years
PEI: 6 years
Newfoundland: 6 years
NS: No limtations binding the government of Nova Scotia from recovering money owed
NWT: 6 years
Yukon: 6 years


The SOL is a benefit to the borrower where the lender (or any of its agents or assigns) does nothing on the debt for the entire limitation period commencing from the last communication or action of either lender or borrower (meaning from the last time you made a payment or when they made any attempt to communicate with you about the debt). The statute of limitations, where it applies to an individual and a specific debt, restricts the lender from taking any "actions" and "proceedings" from recovering the debt.

The definition of action is the act or process of doing something. It is synonomous to "work", activity" or "doing". If the law says "NO ACTIONS" then that means "NO WORK", "NO DOING", and of course "NO ACTIVITY". But not everyone in the financial community follows the law.

The 'clock' as it were starts from the last attempt not from when the loan was first made.

At this point you're going to need to retain a local lawyer to look into the details of your case and see if this happens to be a Federal rather than a Provincial student loan and if, by any chance, that Federal 6-year period may have passed. From what you've indicated, however, it would seem you're on an Ontario loan.

Contact the Law Society for a referral to a local lawyer who can look into the particulars of your case. Their link is here: LINK.

Regards XXXXX XXXXX wishes.