This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their upcoming changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities can't plan. I've heard of courses being cut because the government has no process in place for universities to send the newly required acceptance letters to the government.

This means that students who have been accepted can not attend courses that start in the summer 2024 semester. With cut sections, current Canadian students will have trouble getting courses, and may have to switch to part-time which changes their enrollment status and might trigger repayment of their loans or ineligibility for funding. I've seen this before. It wreaks havoc on the student loan borrowers.

Again, the Liberal government has messed up the education environment. Will the new system needed in a rush for the acceptance letters be the new Arrivecan scandal?

I call on the government to implement a slower phased in approach and delay the requirement of the acceptance letters until a process is in place to submit these letters.


  New Posts New Posts RSS Feed - Collection call for loans from 2004
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedCollection call for loans from 2004

 Post Reply Post Reply
Author
sfk2k View Drop Down
Newbie
Newbie


Joined: 25/June/2018
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote sfk2k Quote  Post ReplyReply Direct Link To This Post Topic: Collection call for loans from 2004
    Posted: 25/April/2019 at 12:14am
Hello all,

I hope Johnny can give some feedback on this.

The Background

I took OSAP loans (Federal around $14K/Provincial around $4K) from 98 to 2004. After graduation, I had to move out of Canada, but now I am back after 14 years. I had filed my taxes till 2003, but nothing in between since I was not here and had no income/assets in Canada. Now that I am back, I am looking to settle, job/house/taxes everything.

Current Status (2019)

Having arrived just two weeks ago, I got a call from someone claiming to be from the ministry of finance and that I owe something to them. I did not know who they were or what it was about, they asked me for my DOB, which I refused to give, after which they hung up the phone. Later on, some Indian lady called from the same number and left a message that she was from TCR and it was urgent. Which means the first guy was lying through his teeth. I searched around and found out that they collect Ontario Student Loans.

The Credit Report
Now on my TransUnion report (Credit rating over 700), both Federal and Ontario portions are listed as "Transferred" in 2006. There is a collections entry for 2017 from FINAN DEBT REC (around $4k ad $3k, numbers that are completely different from the original amounts). Again, I had no contact with them since I was not here.

The Question
From what I understand, my provincial portion was transferred to FDR in 2017, and since they could not collect, it is now transferred to TCR. I will make a settlement on that, once I get a job and settle down, probably installments. But for now, My question is:

1). If I ignore their calls and refuse to own the debt (till i get a job), what action can they take against me.

2). Can they freeze my bank account without notifying me first, since that is all I have with me right now (my life savings to survive the first months).


I know they will call again....

Regards

Back to Top
Sponsored Links


Back to Top
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996
Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 26/April/2019 at 3:21pm
If you would like coaching and Advice you can schedule 30 minutes if you'd like. Contact Lisa at admin@solvestudentdebt.com to schedule in. Cost for half hour is $30.00 and the full hour is $60.00. This is a special rate and is on until May 31 for Coaching and Advice.  
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.