I have a ten year old Canada Student Loan currently assigned to a collection agency. Although I have made payments I still owe approximately $5000. I have offered to make a lump sum "settlement" payment of $3000 which they have refused claiming they can only accept payment in full. Is there a statute of limitations regarding how long the Government and/or collection agency can sue me for the remaining money? Is there any precedent for Human Resources Canada accepting a settlement?

You would have to look at your provincial legislation for the statue of limitations rules in your province.

If you can't make a deal with the collection agency, go back to Human Resources Canada to see if they will accept an offer of less than 100%.

Shane Brenneis
403.296.2975
sbrenneis@moneyhelp.ca