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A few questions...

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badhairdaylady View Drop Down
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    Posted: 30/March/2017 at 10:44am
I have a few questions regarding student debt:

1.  What is the definition of statutes barred?  If I haven't made a payment since 2010, does that qualify, however, if they take my income tax and have me fill out a financial questionnaire does that qualify?  Do I need to disappear completely?

2.  How do I go about appealing the decision on my hardship assessment?  

3.  When is it ever right for a gov. office employee to tell a borrower to take out a bank loan to pay down the interest or to buy lottery tickets and hope to hell I win so I can pay off the loan?

4.  Why won't these officials give clear answers.  I've been trying to find out their definition of hardship criteria and no one will answer this and get quite angry when I insist!  If they don't have answers they're quite quick to pass the buck onto another gov. agency who absolutely don't have the answers!
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Johnny View Drop Down
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Joined: 05/November/2003
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 30/March/2017 at 1:27pm
An informal appeal for hardship is something you do. They do not help you do it, and in almost all cases, they discourage borrowers from doing it even though it is their right to be heard. The Canada Student Loans Program is a business and it pays hundreds of millions of dollars to one third-party business to manage the program's accounts and borrowers. It is not in their best interest to help you despite the heavily reliance they have on saying they do. 

The statute of limitations is a law that, when it applies to you, the debt can no longer be recovered by legal process and recovery. 

If you meet the criteria for a reading of your proposal and demonstration then they have to do take it into consideration with fairness. The criteria is just that - hardship with extenuating circumstances that illustrates your inability to pay - and will continue to impede your ability. It is a very comprehensive and time consuming ordeal.  The only way for me to determine if you meet certain or all criterion is to do a thorough assessment and analysis. That takes anywhere from 45 minutes to 2 hours, depending on the degree and scope.    

My company serves as a resource for student loan borrowers in making these approaches, and mediation. I am up to my waist in these types of cases because of the number of people in hardship that the governments and banks want to press down on. 




The Canadian Financial Wellness Group (CFWG)



www.cfwgroup.ca
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badhairdaylady View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote badhairdaylady Quote  Post ReplyReply Direct Link To This Post Posted: 30/March/2017 at 2:13pm
Well I'm at a point where I think I'm going to disappear.  I've had it!  I'm not likely to ever pay this loan, I can't even cover the interest.  My teeth are all falling out, maybe I should send them a pic!  I work part time, max 28 hours/week, low wage, I make 1300 or less a month.  I've lived without heat most of the winter trying to save on costs and because I have $85 extra a month, they want it.

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Johnny View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 30/March/2017 at 2:34pm
If you are prepared to put the time in it and push your way through their bureaucracy to have a voice they will listen.  
The Canadian Financial Wellness Group (CFWG)



www.cfwgroup.ca
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