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 - Very Old Loan
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedVery Old Loan

 Post Reply Post Reply
Author
BigMama View Drop Down
Newbie
Newbie


Joined: 24/June/2005
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote BigMama Quote  Post ReplyReply Direct Link To This Post Topic: Very Old Loan
    Posted: 24/June/2005 at 9:34am
Hi people,
    I just happened upon this message board thru google.  I received a call today from a place called collect corp, unsure of what the heck it was about until I used my trusty search engine. 
    I had a student loan about 19 years ago.  I claimed bankruptcy about 12 years ago, mostly because of the harassing phone calls from the collection agency for the loan.  (I was raising two kids, only working part-time and they weren't happy with the $50 dollars a month I was sending).  Anyway I haven't actually talked to anyone there yet, but after visiting here I'm sure it must be about this student loan.  A loan that I am absolved of through the magical powers of bankruptcy and the horrible things it did to my credit.  Does anyone have any thoughts on this?  Oh, and by the way, I negotiated my loan at CIBC who I see mentioned at this forum a lot.

Back to Top
Sponsored Links


Back to Top
administrator View Drop Down
Admin Group
Admin Group
Avatar

Joined: 25/January/2003
Points: 1798
Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 24/June/2005 at 11:14am
If you declared bankruptcy 12 years ago, and the loan was included in your bankruptcy, then the loan should have been discharged.

HRDC and others have had a habit of ignoring the rules on pre 1998 discharged student loans. (laws changed in 1998 but that does not affect your discharge.

It might also be an ontario "reassessement" that they are trying to collect on which they apparently have no right to do. Be careful that you "don't acknowledge the debt" Search under "stats barred" and also the "OSAP repayment forums"

Your best bet would be to contact your old trustee or talk to Johnny at CFWGroup.

Mark
Back to Top
BigMama View Drop Down
Newbie
Newbie


Joined: 24/June/2005
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote BigMama Quote  Post ReplyReply Direct Link To This Post Posted: 24/June/2005 at 3:17pm
Thank you for the info, I'll be sure to cover all my bases.
Back to Top
Joan View Drop Down
Newbie
Newbie
Avatar

Joined: 18/October/2005
Location: Canada
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote Joan Quote  Post ReplyReply Direct Link To This Post Posted: 18/October/2005 at 2:43pm
Hello
I just found out about your site in our local newspaper. I don't have the student loan, my son does. It has gotten to the point with him where he is being treated for depression by our family doctor. I am not sure of exact dates but his student loan is 10+ years old. He has paid on it when he was financially able but he is not right now because he is not financially able. They have called other family members and said demeaning things about my son and has even left "nasty" messages on his sister's answering machine for him. $15,000 is the amount they want in lump sum. If he had that amount he would be making his payments. Can you declare bankruptcy? I'm worried about his well being.

Edited by Joan
Back to Top
administrator View Drop Down
Admin Group
Admin Group
Avatar

Joined: 25/January/2003
Points: 1798
Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 18/October/2005 at 10:37pm
I would suggest you contact John Leblanc at CFWGroup.ca

The loan might be "stats barred" if there has been no payments or acknowledgement of the debt for over 6 years. I would refrain from corresponding with the collectors until you talk to John.

If it is not stats barred, then John can intervene with the collectors... There is a fee, but its worthwhile.

Could you let me know what newspaper the website was featured in?

Thanks
Mark
Back to Top
administrator View Drop Down
Admin Group
Admin Group
Avatar

Joined: 25/January/2003
Points: 1798
Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 19/October/2005 at 3:13am
To declare bankruptcy on a student loan, the student must have not been a part-time or full-time student for 10 years.

If your son took a part-time course the clock would have been reset.

If he has not been a part-time or full-time student, regardless of whether he took out loans, then the loan could be discharged.

There have been many cases reported on this site of collectors still coming after people despite the discharge of the loan through bankruptcy, even though the government has no right to do so.

As mentioned above, the loan might also be stats barred. Best to check with John at CFW Group on that one.

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.