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 LockedBankruptcy led to massive increase in debt size?!

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    Posted: 04/February/2014 at 7:01am
Hey Folks!
 
I have been having issues finding answers and how to fix my situation.
 
-Due to illness/work issues I was forced to stop going to university in 2007.
-Between 2007 and 2009 I had a lot of issues finding work and I chose shelter/food over paying my student loan.
-My debt went to the CRA.
 
I found a great job but was illegible with debts.
-Went through a personal bankruptcy in 2009 with 6,000 in personal debt, and 15,000 in student loan debt (combined federal and ontario loan)
 
I attended full-time school again 2010-2011.
Discharged from bankruptcy in 2009 and discharged from the court in 2012 (full 24 months according to BDO Dunwoody)
 
According to BDO the CRA was not allowed to contact me during the time BDO holds my financial file. Thus for ~2year9months the CRA was accumulating interest on my federal loan without contacting me. I was not made aware of this until the bankruptcy court released me in 2012 and let me know my federal debt went from $9,000 to $26,000!!!
 
So I am here after my bankruptcy with more debt than I went into it with. I knew at the time I would have to pay down my student loans and paid off my Ontario ($6,000) in 2012 [As soon as I was made aware]
 
I have no idea where to turn to fix this issue. I hope there is a clerical error to collecting interest without notifying me. That to me sounds like robbery.
 
I want at the end of the day to not have to pay interest in the 15,000 dollar range I had no idea I would be charged without notifying me.
 
Does anyone out there have any idea of a law firm, agency, etc I can call to help? Google hasn't led to many options.
 
 
 
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Radagast View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Radagast Quote  Post ReplyReply Direct Link To This Post Posted: 05/February/2014 at 1:12pm
AFAIK they can't charge interest during a bankruptcy in Ontario. Of course student loans seem to be an exception in every other way, so....
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 06/February/2014 at 8:54am
A 9000 dollar federal loan would not amass that much interest in just a couple years. Not even in combination with the Ontario portion.  There is certainly something wrong with that figure, unless you have other student loans outstanding that you are unaware of.

Oh, and Rad, the federal government can continue to charge an Ontario resident interest daily.  Provincial (OSAP) may not be able to, but the feds will and can. 

If you want some intervention work done here we can help you get the accounting sorted out, and help you get to where you need to be with it, depending on what your desired outcome is. If it is possible then we can help. 

If you have a case then we can work with them (governments) through an intervention and mediation to reduce the debt load for you.

 Also, for instance, if you case is a matter of hardship with extenuating circumstances and you are unable to repay it in any capacity then we can assist you with an intervention and mediation to appeal for it's removal from active recovery.

We have many clients (current and former) who have obtained these benefits.  Some of them you can find in the Recommended Advocates Forum and on our Facebook page "The CFW Group".

If you would like to book an assessment and analysis appointment you can do so by visiting our site and send us a message using the contact us page. Just specify that you want to book an appointment to determine strength of a case for debt reduction and hardship evaluation.

I hope this helps.

 
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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fromabove View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote fromabove Quote  Post ReplyReply Direct Link To This Post Posted: 07/February/2014 at 7:06am
I am extremely interested in these services.
 
As far as BDO would tell me as soon as I was discharged from bankruptcy interest began accumulating on my Federal portion of the loan.
 
They were not allowed to contact me until my file was released from the courts 2yr later.
 
 
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 10/February/2014 at 8:05am
You sent me a private email and I responded to you. Correct? 
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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