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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 100354
Experience:  Lawyer
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In 1998 my student loan with cibc nsc was sent to

Customer Question

in 1998 my student loan with cibc nsc was sent to collections, i tried to call for an explanation but no one would help. In 2007 i did freedom of of information and found out i had not made a mistake and the error was student loans. It has taken me 8 years but i have been able to get acknowledgements from cslp, osap and cibc saying they made a mistake. I have been offered a settlement, can i sue for emotional distress, ruined credit and the fact i never got to go back to school???
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

Are you saying that they are prepared to pay you back all that you paid them and fix your credit rating but they are l not acknowledging that you were harmed because your credit rating was hurt for seven years and because you could not obtain another loan to go to school?

Can you prove that you would have gone to school had you been able to receive a loan?

Can you prove that you were denied loans, credit cards or mortgages because of your credit rating?

Also, can you explain to me why you let this go for seven years?

Customer: replied 1 year ago.
Credit was ruined so I did not try to apply for a mortgage. I was denied credit cards. Also cards I had when this happened were cancelled. I was also on a one year break from school, so was unable to go back to finish my last year
Customer: replied 1 year ago.
We have not discussed damages, out took a long time to get them to admit they made a mistake and to get each government to make the corrections. I tried to talk to someone there when my loan was claimed but they only referred me to collections. Collections did not care and just wanted money.
Customer: replied 1 year ago.
for a long time they refused to pay back my $7000., but have now offered me a deal that they want signed by this Friday, they sent me the offer last week
Customer: replied 1 year ago.
in 2007, when they admitted to the mistake they amended my credit and i bought a house 6 months later. at the time cslp and osap refused to recall the loan even thru cibc nsc admitted to the error. I was advised by cibc executive customer relations that they would fix my credit and not too worry about the loans as no one would come for them. In 2012 i got another letter from collections saying i owed thousands of dollars and then i again contacted cibc nsc and demanded my loans be recalled. It has taken 3 years to get everything done
Expert:  Debra replied 1 year ago.

I am so sorry to hear that.

They are scared you are going to sue and that is why they want you to sign by Friday.

But you cannot sign until you see a lawyer face to face. It may be hard to sue. It will be very expensive, could take years etc. But if you retain a lawyer to threaten to sue them I would suspect their offer will go up quite a bit.

It would be well worth your time to see what they do when given a demand letter for a more substantial sum from a lawyer.

They won't give you what you ask for but they may give you enough that you will feel it is somewhat fair.

Customer: replied 1 year ago.
what kind of lawyer do i need?
what kind of costs are involved for an initial meeting?
how much for a demand letter?
when you say the offer will go up what kind of range can i expect?
Expert:  Debra replied 1 year ago.

You should see a civil litigation lawyer.

You can contact the Law Society and use their Lawyer Referral Service. You will be given the name of a lawyer and can consult with the lawyer and the first half hour will be free.

The number is:

1-***-***-**** or(###) ###-####(within the GTA)

The letter would be a couple of hundred dollars I would think.

I cannot really advise about the range as you need a lawyer to review the details to determine how you suffered essentially.

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