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 - Stat Bar
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedStat Bar

 Post Reply Post Reply
Author
blue_martian View Drop Down
Newbie
Newbie


Joined: 08/September/2005
Points: 1
Post Options Post Options   Thanks (0) Thanks(0)   Quote blue_martian Quote  Post ReplyReply Direct Link To This Post Topic: Stat Bar
    Posted: 08/September/2005 at 7:24am
Hi all,

I'm new here and was hoping someone could explain to me what "Stat Bar" is.  A friend of mine said it's when you haven't made a payment on a debt in 10+ years then you can declare Stat bar?

Thanks for any info


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: 11/September/2005 at 3:42am

Statute barred in respect to student loan or other debt means that no activity or proceedings can be taken to recover money owed toward a debt once the prescribed limitation period has expired.

There are different limitations that are in force regarding student loans and traditional debt.

 1. Life of the debt (Provincial Limitation Of Actions Acts and Federal Statutes such as Bill C 38 and the New Budget Implementation Act)

 2. The reporting of a debt persuant to credit bureaus

Johnny

www.cfwgroup.ca

www.cfwgroup.ca/forum

 3. Bankruptcy and insolvency (section 178 of the BIA)

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
NotScared View Drop Down
Newbie
Newbie
Avatar

Joined: 04/March/2007
Location: Canada
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote NotScared Quote  Post ReplyReply Direct Link To This Post Posted: 04/March/2007 at 3:24am
Hi Johnny,
 
I read on a site that the statute of limitations in Ontario on credit card debts is 2 years if last transactions on the account was after January 1, 2004. Is this correct? 
Money does grow on trees.
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: 04/March/2007 at 5:15pm
Incorrect - but close.

December 31, 2003.

Johnny
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
pauldcl View Drop Down
Newbie
Newbie


Joined: 21/May/2010
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote pauldcl Quote  Post ReplyReply Direct Link To This Post Posted: 21/May/2010 at 1:42pm
How does stat barred work with interest relief? E.G. I graduated 2002, last interest relief was in 2006. ARC Recovery threatened to sue I sent them a letter stating it was stat barred. All was quiet for like six months. Then Metropolitan starts up again threatening to send the acct back to CIBC,but offered to settle for 17K. Im totally broke and already being garnished by the feds on another student loan. Should I worry? Am I truly doomed? Is it all a bluff?
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.