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 LockedJudgement. what can i do?

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seanjohn View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote seanjohn Quote  Post ReplyReply Direct Link To This Post Topic: Judgement. what can i do?
    Posted: 16/April/2015 at 12:24pm
This message is for Johnny and will like anyone knowledgeable to please chime in too.

I just found out that a judgement was entered into my credit report 3months ago. It was for my federal student loan.  I am hoping to clear up the balance in 3months and through getting some equity from my property. I just have a few questions
1. Is it possible to get some credit repair expert help remove the existence of the judgement from my credit report by arguing i never received any letter from them. 

2. If i can't remove it from my credit report and i get to have it showed as paid, how damaging is it to my credit report and is there anything i can do to get my score up? Or will it be a problem for few years?

3. It was mentioned that it is possible to claim the interests i paid on the loan claimed on my income tax,  how true is that? Is it possible to request a statement of the interests i paid or can i just back calculate the interest?
                 Thank you guys 
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SFA View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SFA Quote  Post ReplyReply Direct Link To This Post Posted: 18/April/2015 at 8:10pm
The judgement reporting under public records will continue to report for 6 years from filing.
If you settle the judgment it will still continue to report for the 6 year timelimits.

Judgements are renewable. So if you do not settle and the 6 year anniversary comes the CRA can file to have the judgement renewed for another 6 years. Judgements never go away.

You can contact the NSLS and ask how to proceed in regards to stating you we're never served. It won't prevent the
judgement reporting though. 
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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: 19/April/2015 at 12:09pm

As long as the disposition shows "settled" then it is less risk to you.

Renewal periods vary depending on the applicable legislation. I have seen federal judgments live for 10 years without renewal.  

Judgments go away the moment a satisfaction document is presented.

If you reside in Ontario then they do not have to serve you like they do in other provinces (hand delivery requirement).

NSLSC has no jurisdiction or responsibility for a federal loan once it has been returned to the government. Legal action and the governing body of that is Justice Canada, and CRA Legal Services. They would be the ones to issue you a detailed statement of account. They are located on Heron Road in Ottawa. Easy to find.

If the government has hired a private law firm to represent them (which they do almost in every case except for in Alberta); then they have to provide you with a detailed statement of account if you require one.

 


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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seanjohn View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote seanjohn Quote  Post ReplyReply Direct Link To This Post Posted: 19/April/2015 at 12:56pm
                  thank you Johnny and SFA for the awesome input.  I am based in Manitoba.  I was not served directly. I believe I must have been sent some letter indicating the legal action but not 100percent sure.                            Would i be able to fight off or  better still ask nicely for them to waive the legal fees they must have added to the student loan total . 
                   Can you please also let me know about claiming the interest they have charged over the years on my income tax. That before or even after the Judgement last year december.
              thanks guys!
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