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 Lockedgetting another student loan after bankruptcy

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    Posted: 03/June/2015 at 5:57am
just wondering if anyone has any experience getting a second csl loan after a defaulted loan was dischard in bankruptcy   id like to get financing to finish my degree  ... the rules seem sketchy on the one hand i obvioudly fail a credit check ..but technically i already had one done 10 years ago ... the whole point of bankrupcy is to get A FRESH BSTARt so i hope they dont descriminate based on old discharged loans
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 03/June/2015 at 7:59am

The fresh start is a myth for most people. Unless you have strong financials, but if you did then bankruptcy wouldn't have been filed. If a person suddenly becomes financially strong post bankruptcy then credit can simply be bought back for a price.

The identity you assume as a bankrupt will follow you around for a long time to come despite what those who support bankruptcy say. Financial an government organizations are able to store information about you as a safeguard to them in case you decide to approach them again in the future. There area lot of people who have run out of creditors to approach for new credit after not one, but two and sometimes three prior bankruptcy actions.

Bankruptcy is a paradox. On the one hand, there are people who "use" it to "get out" of debt quickly  without any thought of it being a last resort. On the other hand, there are people who "need" it to get out of debt, and either avoid credit prospecting and acquisition all together in the future; or seek only what is required for the purpose of necessity rather than it's luxury.

Even people with derogatory credit can obtain a secured credit card for use. I see both sides of the spectrum daily and it fascinates me what things motivate people to go bankrupt without even giving it a second thought.  

Most people who go bankrupt don't have the desire to have credit.

When you apply for credit or financing of any sort I do believe there is a box you have to check "yes or no" with the attached question "Have you ever been part of any bankruptcy proceeding?". This shifts its paradox to the extent of a person's moral obligation to be truthful (or not). The fact that bankruptcy activity is stored by the two sectors I mentioned is something every bankrupt should be aware of. It';s not a question of honesty and integrity. It is a matter of risk and the financial and government communities manage risk in the most unusual ways.


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 docsis4 Quote  Post ReplyReply Direct Link To This Post Posted: 03/June/2015 at 8:32am
fyi 

after making some calls  cslp has a 3 year rule after date of discharge before a person is eligable to get whats called a "clearance letter" so no federal loan for me.. i believe nova scotia loans are not as strict
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Post Options Post Options   Thanks (0) Thanks(0)   Quote secondchance Quote  Post ReplyReply Direct Link To This Post Posted: 01/February/2018 at 5:51pm
Originally posted by Johnny Johnny wrote:

The fresh start is a myth for most people. Unless you have strong financials, but if you did then bankruptcy wouldn't have been filed. If a person suddenly becomes financially strong post bankruptcy then credit can simply be bought back for a price.

The identity you assume as a bankrupt will follow you around for a long time to come despite what those who support bankruptcy say. Financial an government organizations are able to store information about you as a safeguard to them in case you decide to approach them again in the future. There area lot of people who have run out of creditors to approach for new credit after not one, but two and sometimes three prior bankruptcy actions.

Bankruptcy is a paradox. On the one hand, there are people who "use" it to "get out" of debt quickly  without any thought of it being a last resort. On the other hand, there are people who "need" it to get out of debt, and either avoid credit prospecting and acquisition all together in the future; or seek only what is required for the purpose of necessity rather than it's luxury.

Even people with derogatory credit can obtain a secured credit card for use. I see both sides of the spectrum daily and it fascinates me what things motivate people to go bankrupt without even giving it a second thought.  

Most people who go bankrupt don't have the desire to have credit.

When you apply for credit or financing of any sort I do believe there is a box you have to check "yes or no" with the attached question "Have you ever been part of any bankruptcy proceeding?". This shifts its paradox to the extent of a person's moral obligation to be truthful (or not). The fact that bankruptcy activity is stored by the two sectors I mentioned is something every bankrupt should be aware of. It';s not a question of honesty and integrity. It is a matter of risk and the financial and government communities manage risk in the most unusual ways.



Johnny, I see you are pretty much the only person who uses this forum, rather than the multitudes who come here seeking answers to questions. 

Your answers are generally the same: lots of preaching about how bad it is to declare bankruptcy, and no response to the actual question. It makes me question if you have a alterior motivations. Is this your personal platform? Are you hoping to get business here? 

You've been on this board long enough to post 5000+ times -- do you honestly have no knowledge about anyone getting a student loan after discharging their previous loans? I mean, there must have been people posting in here about it? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 03/February/2018 at 4:45am
If I remember correctly, the student loan act and regulations do not allow anyone to get loans after bankruptcy, unless you rehabilitate the loan by paying it back in full plus interest.  But then, if you could do that, you wouldn't have gone bankrupt.

I haven't seen any posts here on the site that indicate that someone got a new student loan after going bankrupt. If some one has, please post here and let us know how you got it....

PS: John is the most knowledgeable person providing advice.... he has done so freely for years as a volunteer.  We need to thank him not criticize, although I do understand your concerns.... 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 04/February/2018 at 6:57am
SecondChance

You Wrote 

'Your answers are generally the same: lots of preaching about how bad it is to declare bankruptcy, and no response to the actual question. It makes me question if you have a alterior motivations. Is this your personal platform? Are you hoping to get business here?"

Bankruptcy is a LAST resort. Therefore, it should be treated a a last resort. When is a last resort for someone, and of great benefit then I recommend it. 

I not preach. I simply post signs going up that crappy mountain that say 'watch your step'. 

What do you mean by'personal platform'. I spend time here periodically to help and guide people. If people want to hire me to do things for them then that is up to them. I spend time here on my own dime, and do a crazy amount of pro bono work for people who cannot afford to pay for help. 

You asked 

'do you honestly have no knowledge about anyone getting a student loan after discharging their previous loans?'

Here is what i would like to ask that you do. Call Service Canada and ask them this question, then come back and post you are told. 
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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