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.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Observer Quote  Post ReplyReply Direct Link To This Post Posted: 31/July/2005 at 1:52am

Quicksilver

go to www.cfwgroup.ca John LeBlanc, he can help you with this. Or cast around on this forum for more info.

By the way Collectcorp and other agencies use what I call "psycho social terror attics". Very effective on people who do not know the game or their rights.

From your post the collector broke several rules and regs knowingly. However that being said you were obviously unprepared for this, the collector sensed this and proceed to escalate the terror, I think they could give lessons to some of the world terror organizations.

Stand firm and give the terror nullifier John LeBlanc a call or email him.

  

Retired Collection and Credit Executive
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Quiksilver Quote  Post ReplyReply Direct Link To This Post Posted: 04/September/2005 at 11:38am

I went to Royal Bank to ask them maybe pull the loan back into their own collection office so I can work something directly with them. They tried to contact CollectCorp themselves and left a voicemail and to this date I guess they're still waiting for an answer, because RBC said they'd get in touch with me as soon as they heard back from them.

I am not holding on to much hope but can anyone educate me here? to their best knowledge/experiences/understanding what are my options here? I clearly do not have the entire sum ready to be handed out here. I am willing to propose a payment schedule that would take about 2.2 years to pay off ($200 a month x 26 months) but looks like no one is at the other end of the 'bargaining' table.

Meanwhile, it appears that they have tracked down my father's phone number as now that I think of it, his new number was never given to RBC after my parents moved out in November of 2004.

I lost this guy's extension at Collectcorp so I can't call him back directly given Collectcorps shady phone system with no operator line.

Should I go back to Royal Bank and work something with them directly? What are my options here?

Please Help

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 05/September/2005 at 6:25am

The RBC does not recall accounts that are assigned out to third parties unless the account there was some recognized error at the bank's level that warrants the recall, or if that third party agency has done something bad enough to cause the bank problems, which would result in the return of that file.

all you can do is go to the RBC and ask t5hem to remove the account from third-party collection and recovery. The best case outcome would be yes. The worst case would be no.

You wrote:

"They tried to contact CollectCorp themselves and left a voicemail and to this date I guess they're still waiting for an answer, because RBC said they'd get in touch with me as soon as they heard back from them."

To enlighten you aboout how the RBC interacts with their assigned agencies .. this is not how they do it. This line that they have given you regarding their results is nothing more than one large - and very methane enriched cow patty. The Royal Bank tells the agency what to do. Collectcorp does what thew RBC tells them to do when it involves one of their accounts. If the RBC says to Collectcorp, "CLOSE THAT FILE", Collectcorp does so without question.

Collectcorp has a client services rep who is the only one who deals with RBC. Each major client of Collectcorp has a liasson or "client Services Rep" assigned to manage and maintain that business relationship.  

Complaints:

If a complaint is lodged, and is serious enough to warrant an investigation of the notes on that particular account, the RBC may be waiting for them to repsond. However, if the complaint does not hold merit, or can be dismissed without incident, then your account will remain with Collectcorp until the RBC says otherwise.

Just remember onew thing:

RBC, CIBC, and Bank of Nova Scotia DEPEND on Collectcorp - and several other collection agencies, to recover their losses. THey are going to try to protect their best interests. Their best interests are: 1) their accounts receivable management and recovery, and; 2) the agencies that they desperately "seem" to need in order to get that job done.

Johnny

www.cfwgroup.ca

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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Quiksilver Quote  Post ReplyReply Direct Link To This Post Posted: 05/September/2005 at 4:53pm

So Johnny,

You are basically saying that I am stuck with Collectcorp and deal with them to what seems to be a stalemate?

I mean I offered a payment plan and they seem intent on collecting the full amount. According to this fellow at Collectcorp, he said that Royal Bank refuses to take partial payment and that the whole amount should be paid in full.

There's gotta be some way to deal with these a-holes and make them understand that I truly want to get rid of this debt but to pay the amount in full is definitely a non-starter in negotations for me.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 06/September/2005 at 12:13am

 

 What I am saying is that there is no harm in trying to get the bank to remove it from the agency. The reality is that the bank(s) do not really become involved again once they have assigned an account out to a third-party agency.

 "I mean I offered a payment plan and they seem intent on collecting the full amount."

 Collection agencies handling bank risk and/or shared student loans are instructed by these banks to collect the balance in full. Remember, this is not the CRA/CSLP or Provincial guaranteed student loan portfolio. Collection agencies treat bank risk student loans no different than traditional written off debt.

Payment plans are not what collectors have in mind. They donot make very much commission from smaller payments being made. hey go for the whole amount - or a larger sum of money so they can earn.

The unfortunate thing is that the commission incentives drive collectors to break the rules. If a collector wants to earn then he or she has to collect a lot of money. Of course, rules are going to get broken.

It is difficult for people to deal with collectors because they will always use whatever tactics are at their disposal to either motivate or entice you to pay the debt in full. These tactics are designed to break you down. They target your self-esteem and emotions. This is why people require professional assistance.

If you want your problem solved, I would be more than happy to fix it for you.

Johnny

www.cfwgroup.ca

www.cfwgroup.ca/forum

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Quiksilver Quote  Post ReplyReply Direct Link To This Post Posted: 08/September/2005 at 5:27am
Originally posted by Johnny Johnny wrote:

 

 What I am saying is that there is no harm in trying to get the bank to remove it from the agency. The reality is that the bank(s) do not really become involved again once they have assigned an account out to a third-party agency.

 "I mean I offered a payment plan and they seem intent on collecting the full amount."

 Collection agencies handling bank risk and/or shared student loans are instructed by these banks to collect the balance in full. Remember, this is not the CRA/CSLP or Provincial guaranteed student loan portfolio. Collection agencies treat bank risk student loans no different than traditional written off debt.

Payment plans are not what collectors have in mind. They donot make very much commission from smaller payments being made. hey go for the whole amount - or a larger sum of money so they can earn.

The unfortunate thing is that the commission incentives drive collectors to break the rules. If a collector wants to earn then he or she has to collect a lot of money. Of course, rules are going to get broken.

It is difficult for people to deal with collectors because they will always use whatever tactics are at their disposal to either motivate or entice you to pay the debt in full. These tactics are designed to break you down. They target your self-esteem and emotions. This is why people require professional assistance.

If you want your problem solved, I would be more than happy to fix it for you.

Johnny

www.cfwgroup.ca

www.cfwgroup.ca/forum

Hi Johnny,

I have sent you email about this. I need all the assistance I can get.

Thanks!

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 08/September/2005 at 6:40am

Hi Quik,

I am going through approximately 90 emails from today. which one of these was from you? Call me to discuss the matter at hand, why don't you. You can reach me at 902-464-8727 for most of the day.

Johnny

www.cfwgroup.ca

www.cfwgroup.ca/forum

 

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Quiksilver Quote  Post ReplyReply Direct Link To This Post Posted: 08/September/2005 at 11:08am
Originally posted by Johnny Johnny wrote:

Hi Quik,

I am going through approximately 90 emails from today. which one of these was from you? Call me to discuss the matter at hand, why don't you. You can reach me at 902-464-8727 for most of the day.

Johnny

www.cfwgroup.ca

www.cfwgroup.ca/forum

Hi Johnny,

Unfortunately, I lost my cell phone this week and I don't have a land line (yet) I just ordered one so something like this doesn't happen again; therefore I am unable to give you a call right now.

I sent my email on Tuesday. Perhaps there is a more direct email address I should use? PM maybe?

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Post Options Post Options   Thanks (0) Thanks(0)   Quote maleks Quote  Post ReplyReply Direct Link To This Post Posted: 16/December/2005 at 3:01am

Hi guys,

This man from Collectcorp keeps calling me (up to 6 times a day) and I know that this debt she says I owe is not mine, and i have already told him that.  Although I have already dealt with an identity theft in the year 2000, and this was already corrected(a police report was produced) now this Collectcorp company has been hierd by The Scotia Bank to collect money from me that i do now Owe them,  I have already called the poilce over this, but they won't do anyithing unless they got some proof that its harrassment.  The calls from collectcorp are getting more and more rude. I am not sure where to go from now with this.

Thanks for your help!

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Originally posted by maleks maleks wrote:

Hi guys,

This man from Collectcorp keeps calling me (up to 6 times a day) and I know that this debt she says I owe is not mine, and i have already told him that.  Although I have already dealt with an identity theft in the year 2000, and this was already corrected(a police report was produced) now this Collectcorp company has been hierd by The Scotia Bank to collect money from me that i do now Owe them,  I have already called the poilce over this, but they won't do anyithing unless they got some proof that its harrassment.  The calls from collectcorp are getting more and more rude. I am not sure where to go from now with this.

Thanks for your help!

Tell them you are disputing the amount owed.  There should be paperwork to fill out.  Record your conversations with them.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote maleks Quote  Post ReplyReply Direct Link To This Post Posted: 16/December/2005 at 10:02am

I am disputing the amount owed..its not even mine!! and they wont beleive me on that.!

 

what do you mean there should be paperwork to fill out?!! from my side or the collectcorp side?

thanx!

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 17/December/2005 at 4:26am

Contact the ministry of your province. The department you are seeking is the business and consumer services area. Simply lodge a complaint and explain that the debt is not even yours. They will have to invstigate it and resolve the issue.

Johnny

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote RJW24 Quote  Post ReplyReply Direct Link To This Post Posted: 20/December/2006 at 8:59am

Hi everyone, i am new to this forum but I am not afraid to express myself with regards to Collect Corp or any other collections agencies. I received a call from CollectCorp at work with regards to an outstanding Canada Student Loan and CC wanted to settle at just over $9000 and close it by this coming Friday. How was I able to get the funds in time? I was not able to at all. Family refuses to help and friends were unable to.

I then began stressing myself out over this until I began speaking with people on the phone and in person. One person told me that so long as I will make an effort to pay and continue payment, they cannot do anything at all. i mentioned to CC that I was willing to pay them a certain amount a month and they told me they are not a financial institution to accept such payments on a monthly basis. Wrong answer. I began doing more research and lo and behold, they are a payee on my bank's payee list if I wanted to pay them monthly.

I have kept track of everything I have done thus far and today, CC mentioned to me that they have spoken with my bank with regards to repayment on my loan and I can do so, provided I make my first payment this month. I called my bank and they told me that in no way have they spoken or contacted CC and vice-versa.

Everyone knows collections agencies will do anything to get, I call it rape, money from you, but just be firm, but better composed than them and you will end up top in the end.

Trust me, I have dealt with agencies before and I have mentioned to them I will pay them a certain amount and they have accepted it... Collect Corp is no different.

Just for the record, I have even told CollectCorp not to call me at work and they did, so that tells me they want to get under my skin. I have even called the Ministry of Government Services and an agent with them told me that should the calls continue, then I can file a formal complaint through them and they will take care of them under the Collections Agency Act.

For myself, I know a lot of people in Ottawa, most of them lawyers, so I would be all set should anything happen.

Don't let them intimidate you by telling you they will sue you or take you to court. It will cost them far more money to get you in a courtroom and getting judges, lawyers and the appropriate paperwork, than it will to make monthly payments.

Stand tall and don't let them push you around, you have rights. You want to know anything more, contact me.

RJW
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Nightmare Quote  Post ReplyReply Direct Link To This Post Posted: 18/January/2007 at 4:55am

 

How can you speak to these people???

 

I explained to them that if they do not stop harrassing me and my family I will get the authorities involved.  All he could do is hang up the phone on me!!
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1.) Just let them know you are only able to pay a certain amount and that amount only.

2.) You have the right to tell them not to contact you wherever you are and should they violate that right, take actions against them whether through the Government of Ontario or even a lawyer
 
3.) Most of all, keep records of EVERYTHING that has been done between you and them. Collect Corp says they do not accept payments online because they are not a financial institution but that is not correct at all. Think about it, your cable company, utilities companies, etc... are not financial institutions either, but yet you can still pay them via online banking.
 
All in all, just be firm, with them and don't let them intimidate you, because the minute they hear fear in your voice, then they jump all over you. Also, just make sure any mail you send to them is registered mail so at least you get a signature from it to ensure it was received and signed for. Canada Post handles all this also.
 
Seek legal action as a last resort. I have already told Collect Corp that they are liars and that I was not going to tolerate anything from them, and once I told them I was going to do and that was final, there was nothing more they could say.
 
Remember, to them it is all about the commission. They could care less about the loan you have to repay, they just want their commission. So if you make monthly payments, that cuts into their commission badly. If you can only pay $200 a month like I am, they will only get about $10.00 from it because half of my payment goes towards interest on my loan, so think really hard about it and if they say they are taking you to court, just reiterate to them that if they are willing to pay $15,000 - $20,000 to waste some judge's time for something you are prepared to do but in a smaller scale, then go ahead.
 
just remember though to document everything and keep it as evidence of your conversations and correspondence with them in case they DO decide to take you to court. If a judge sees that you are making an effort to make the appropriate arrangements and they are not willing to work with you, the judge in most cases from what i understand will side with you.
 
Be strong.
 
RJW
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Post Options Post Options   Thanks (0) Thanks(0)   Quote WannaBuyAHouse Quote  Post ReplyReply Direct Link To This Post Posted: 21/February/2007 at 1:37pm

Has anyone had any luck with CollectCorp making a deal with them that you will pay off an agreed on amount, providing they remove any and all entries into your credit history at any of the credit reporting agencies?

I read somewhere this was a good way to get away from them if you are able to, but like to know if anyone has any experience with this first.
 
Thanks
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Nightmare Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2007 at 1:36am
In December Collectcorp had contacted me to advise me that they were liquidating their files and where willing to drop my loan from $5000 to $3000 as long as I paid the full balance of $3000. (At that point I was jobless and had no support from family and friends.
 
Now that i have found a job I had contacted Collectcorp and have advised kthem that I am ready to settle for the amount that was agreed upon $3000. They have advised me that the sett;ement has gone up to $4500.
 
I have advised them that I do not want to pay them for I did not obtain the loan from them plus I do not want tem to oreceive a commission off me for the harrassment that they have caused.
 
I have also notified Collectcorp that should I pay the balance it will only be for $3000 as previously discussed and it will be made out to my financial institution that I originally received the loan from.
 
FC
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Southpa Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2007 at 8:16am
To Nightmare,
 
If ANY agency offers you a reduced payment option over the phone DON'T TAKE IT.  Make sure they are willing to put said agreement in writing beforehand.  Whatever you receive in the mail regarding this agreement should be accompanied by the signature of the general manager of the company and be on their official letterhead.  Then take it to a lawyer and have him confirm that you have been offered a binding agreement that your loan will be paid in full after the transaction is completed.  I would not trust these b*st*rds as far as I could throw their momma.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2007 at 11:03am
Night,

Collection agencies do not have going out of business sales. Business has never been better with that industry.

Collectors fish for money in the most creativve ways. What youhave described is common. WEhat they do is tell that they "have good news" for you, and that they will reduce your debt to some ridiculously low amount. While you are out frantically trying to find it, they are frantically tring to figure out a way that they can get this money from you if their client (your lender) does not authroize as a settlement.

Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 22/February/2007 at 11:04am
Also, a lot of bank risk loans that are floating aroundf in collection agencies are ancient, thus being statute barred. This is also somethign to take into consideration when these wild offers are tossed around by collectors.

Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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