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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Forum LockedNCO Suing aggressively

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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Topic: NCO Suing aggressively
    Posted: 13/September/2005 at 3:04pm
Thanks to John for this info - Mark

Hi folks,

NCO financial Services (Vancouver Office) is suing people on a regular basis for the Royal Bank student loans. If you are in no position to pay these loans in full, or meet the demand(s) that the colletor(s) is pitching at you, simply subsantiate it. Make your repayment offering. If it is refused, make sure that you record this activity.

If the Royal Bank is convinced by the collector's notes that you are non-compliant and legal action is their only recourse, that could mean trouble. For those of you who are dealing with NCO in Vancouver, pay close attention to the collector you are dealing with - and record any abuse that may occur.

Collectors are out for the almighty commission dollar. They are always going to do whatever they can to capture it.

Just be cautious, know your rights, and make sure that record actions and/or conversations with any abusive or rule-breaking collectors.

Johnny
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samantha View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote samantha Quote  Post ReplyReply Direct Link To This Post Posted: 13/July/2007 at 12:21pm
Hi:
 
We received a call from NCO today. I was informed that they were preparing the paperwork to submit it to CIBC so they can sue  my husband.
 
What brought all this "suing" talk on, was that on the first conversation that we had with them, we told them that we wanted a written break down of all of the amounts given to my husband under the federal loan.
 
On the first phone call the woman said to me. "You need to talk less and listen more, we do not have to prove anything to you, you know how much you owe. The only way that you're going to get that (break down) from us is if we sue you". The she started screaming like a little girl and when I kept repeating the same thing, "we want a written break down of all the amounts", she hang up on me (that's OK, I didn't want to talk to her anyway!!!).
 
The second guy that just called me said the same thing, that basically the only way I'm getting the break down is if they sue me. He is the one that told me that they were preparing the paperwork to send it to CIBC so they can start suing. (I wonder if he screams like a little girl too).
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 13/July/2007 at 12:50pm

This is really bad behavior by a collector. All they have to do is send you a breakdown of what you owe. It takes minutes (if that). What you have described is common. I would pay close attention to this because people have been describing the same pattern or behavior regarding other collection agencies, and you should do things to prevent this threat from materializing.

 
If you need help, let me know.
 
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 OrlosGirl Quote  Post ReplyReply Direct Link To This Post Posted: 30/August/2008 at 10:44am
Which NCO is dealing with your CIBC loan?  Mine is being dealt with in Edmonton.  They broke the law, lied to me and were very abusive.  They've convinced CIBC National Collections that the only route is to sue me.  I've only had one conversation with them and it was horrible.
 
I'm not going to step back and let them bully me into doing what they want.  They messed with the wrong person this time because I used to work in Canadian collections and I know the laws.
Trying to do everything He tells me. (John 2:5)
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 30/August/2008 at 1:20pm

Maybe you should request their written request fro permission to sue. They have to give a reason to the bank as to why they are requesting it, and why the bank should allow it. This would be really interesting to see.

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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