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 - General Advice please
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedGeneral Advice please

 Post Reply Post Reply
Author
AyumiChan View Drop Down
Newbie
Newbie


Joined: 19/September/2012
Location: Kitchener
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote AyumiChan Quote  Post ReplyReply Direct Link To This Post Topic: General Advice please
    Posted: 19/September/2012 at 12:04pm
Hello all,

Brief description of my situation:

I took out a loan for college in 2008, left college in 2009 for personal reasons. I was eventually contacted by the CRA and I set up a payment plan with them, they were very understanding of my financial situation as i explained it to them (Live alone, my parents are in brazil, pay my own rent etc)

I am wanting to get back to school very badly, so I contacted the CRA and they told me I had to pay X amount + all outstanding interesting for my loan to return to OSAP, and then I would be able to apply to college for a new loan. Up to here its all good.

I then started receiving calls from this strange number, these people that identified themselves as "government of Canada" EOSNCN. This is where I learned that my original loan is actually split into 2 different parts (Federal & provincial), and that these people were calling me to collect the provincial part of it. The problem with these people is how rude and un-cooperative they are, they "demand" exorbits amount of monthly payments, even after I told them about my financial situation. I offered to pay them 100 a month, they said its too low and I told them that 100 is how much I am also paying the to the Federal portion of my loan, she proceeded to call me a liar and that she would send a sheet for me to fill out about my income and etc and that they would do an assessment of how much I should be paying.

My questions are:

1) If i can realistically only pay them 100-125 a month, can they ask me to pay something like lets say 300-400, even after I've sent them the papers filled out? If I refuse to pay the monthly amount they suggest, but they wont accept my suggestion, what can they do?

2)I now know the procedure for returning my federal part of the loan to OSAP so I can apply for school, but what about this provincial portion? Do both Federal & provincial have to be returning to good standing for me to take out another loan to apply for school? If so, how do i do it(Provincial)?

3)In this paper they have sent me to fill out my financial information, do they have the right to ask for my SIN number?

And last but not least, my main goal here is to somehow deal with all this in a manner where I will be able to return to school, but I have to deal with this first( CRA & now EOSNCN). What steps should I take?

Thanks in advance,

Any help is highly appreciated
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: 20/September/2012 at 7:16am
Hey Aym,
 
1. They will always ask for the most money they can secure from you. Traditionally, loans in default carry a requirement to pay back over a period of 7-10 years, depending on the state of your financial posture. If they set a payment plan up that you cannot afford then you simply can't afford it. They have only two choices and they are to either accept a smaller payment or pass it off to whomever else in the system for procurement.
 
Now, if you refuse to pay what they reuqire and you have the ability to do so then that places you atgreater risk of them just suing you. However, if you cannot pay it and can demonstrate that then they will accept lower amounts from borrowers. The problem is that they do not make the task or experience very easy for you I'm afraid. This is part of a service I provide and it is certainly a busy one!
 
2. THe student loan system as a whole will not grant you any further funding unless your prior student loans are in good working order.
 
3. If this is the federal governent;s financial information form then the answer is yes. Your account # is actually your SIN followed by two capital Y's (111-222-333 YY).
 
EOS (Nordon Collection Network) is handing the OSAP ortion of your student loan. So, you have to deal weith either them or the Ontario COllection Management Unit based out of Sudbury, Ontario. If you want to know what the requirementds are in order to secure more funding they will tell you. I do not know how far you will get with EOS because they are debt collectors and do not get involved with inverstigations that do not earn them their commission. YOur best bet is to approach the MTCU (ministry of training colleges and universities) or the CMU in Sudbury.
 
Dealing with CRA is sometimes easy, depending on who you connect with. In other cases, people leave the concersation frustrated, angry, and fearful because of negative/threatening discourse and unfriendliness. It is common in the debt recovery sectors in every financial environment.
 
If they set the standard that interest must be cleared first then they will not bend. It is certainly a better option than having to pay the entire loan out with interest though, which is the way it used to be some time ago.
 
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
AyumiChan View Drop Down
Newbie
Newbie


Joined: 19/September/2012
Location: Kitchener
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote AyumiChan Quote  Post ReplyReply Direct Link To This Post Posted: 20/September/2012 at 11:18am
Ok, so as long as I pay them what I can actually afford then I will ok.

Now like I said, EOSNCN has sent me a paper to fill out(financial questions like income) ; as a collection agency, can they legally ask me for my SIN number?

*EOSNCN is collecting the provincial part of my loan

Also, Am i able to legally record the calls? if so, Do i have to let them know? are they admissible in court should the need arise?

Thanks in advance once again
Back to Top
AyumiChan View Drop Down
Newbie
Newbie


Joined: 19/September/2012
Location: Kitchener
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote AyumiChan Quote  Post ReplyReply Direct Link To This Post Posted: 20/September/2012 at 11:37am
Ops, let me slip in a couple of more questions:

In this paper for financial assessment:

1. Can they ask me for my employers number? (I DO NOT want them calling it, are they even allowed to?)
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: 21/September/2012 at 5:25am

In Canada, you can record a call with another party. Only one party has to approve of it. As freaky as our laws are here in Canada, as long as you agree to it and do it then you do not have to notify the other party.

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
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: 21/September/2012 at 5:27am
Originally posted by AyumiChan AyumiChan wrote:

In this paper for financial assessment:

1. Can they ask me for my employers number? (I DO NOT want them calling it, are they even allowed to?)
 
If you do not want to put that # in then exclude it. Hey want to know everything in those statements you fill out though.
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.