Ontario Student Loan Default from 1996 -- Question re Statute of Limitations
This was back when the bank would take the loan and it was funded through the government (two parts to loan, federal part and provincial part).
Long story short, I defaulted on about 7k owing for the federal portion of the loan. For several years collection agencies called me. After awhile the calls stopped. I called one of the collection agencies around 98 - 99 and they said that the loan had been recalled by the bank.
Around 2005 I tried to track down who I needed to pay spending hours on the phone. Nobody could find any record of the loan. Not on my credit bureau, not through National Student Loan Centre, various government departments, I even called ScotiaBank with the loan number and they couldn't find it (I think that I got the loan in the year just before they changed the whole OSAP system to one integrated loan done through the government instead of the banks.)
Finally I gave up and figured as long as it's not hurting my credit score who cares.
Has the statute of limitations passed on this debt? I know 10 years needs to go by from when you were last in school, however I returned to college in 2005 for one year.
Just worried that one day in the future I'm going to get a call "You owe us the original 7k + god knows how much interest".