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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hanjai View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hanjai Quote  Post ReplyReply Direct Link To This Post Topic: OMTCU, Equifax, Date Of Last Activity
    Posted: 17/March/2016 at 10:08pm
Studied from 1995-2000, financed via OSAP (Scotiabank), never made a payment. The OMTCU portion of my OSAP loan recently (Jan 2016) turned up on my Equifax via NCO. The only negative entry on my report. Equifax Date Of Last Activity (EDOLA) is Jun 2011, when NCO was given my debt for collection. 

Investigation (numerous phone calls to Scotiabank, OMTCU and Equifax) revealed that the debt had been given to 2 other collection agencies prior to NCO getting the debt 2011, as I was curious why it showed up now. I last checked my Equifax 2 years ago and it was not there.

Applying for a mortgage soon. Mortgage broker says all debts showing on Equifax need to be paid prior to application.

1) If left unpaid, with no payments, until 6 years after the DOLA, will it drop off my Equifax completely (or will lenders forever be able to see in any way/ any type of entry that I have this unpaid debt)?

2) Considering I have made no payments, is the DOLA: 
a) when the loan first went into default, or 
b) the date the 1st or 2nd collection agency received the debt (unclear if they reported it to Equifax), or 
c) when the current and 3rd collection agency NCO first reported the debt to Equifax, or
d) other? Please explain.

3) Assuming  the answer to 2) is either a) or b) how do I go about getting it removed from my Equifax, and how long can I expect it to take?

Just want to give Johnnie (moderator) some props- I read all the threads I could find in relation to my questions and found your responses very helpful!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 18/March/2016 at 10:52am
You contacted me privately through Facebook or our website if I recall. 
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 hanjai Quote  Post ReplyReply Direct Link To This Post Posted: 18/March/2016 at 6:43pm
Actually no we have never been in contact, a google search brought me to threads here you comented on. Yesterday was my first time here so I registered :)
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2016 at 4:32am
Can you elaborate on why you made no payments?  Are you in a financial position to make payments?

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 20/March/2016 at 7:09am
Ah. I was curious because there was a person with a similar issue inquiring. 

For some student loan borrowers there are no limitations that bind the Ontario government from reporting the Ontario student loan to the credit bureau. This is if the new implementation to the Ontario limitation of actions and proceedings legislation applies to yours.  That implementation occurred in 2004. So, if your loan entered into default before this then you would have an argument to make.  

The Ontario government collection staff simply tell everyone there are no limitations at all.  They are programmed to tell anyone who inquires this line. However, if a loan became due and payable in default either before the coming into force of that change in 2004 then one could argue that the prior limitation period applies. No government or creditor is going to do the work for you and arm you with information or tools that prevents them from recovering a debt, or reporting it. The onus is on you to investigate and bring a case that proves otherwise. 

If the prior limitation law does not apply to you then the debt can be reported to the credit bureau for as long as the debt is outstanding, and for the prescribed period of time described int he credit reporting law in Ontario. 
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 hanjai Quote  Post ReplyReply Direct Link To This Post Posted: 24/March/2016 at 4:32am
 Thanks for your response Johnny! Further described my situation in response to your and  administrator's posts, with some questions at the bottom:

Credit was perfect up to now, always being approved, paying cc's/ lines of credit/ cell etc on time. Fact that it just showed up on Equifax in Jan '16 is why I'm now aware of it- NCO didnt report it despite having the file since Jun '11. Would have paid it off before '14 if I'd been aware of it when I was able to work, but things are different now. 

Assumed parents paid it before they passed. Not in a position to make payments without getting a mortgage first. House I'm buying has rental suites- enough additional income to start to pay off this student debt (may apply for hardship). Down payment locked in a trust that can only be used to buy a house. I'm physically unable to work, w just enough income for rent/ food/ utilities. 

Therefore removing this Equifax entry long enough to apply for the mortgage will ultimately allow me to pay the student debt back, get additional therapy and have a better quality of life. 

Does Equifax remove this type of unpaid public record 6 years after the Date of First Delinquency?

If yes, and the 6 years has passed, how can I compel Equifax to remove it?

How long will it take?

Interpreted Limitations Acts (1990 & 2002) that no limitation apply to my debt; could it be re-reported to Equifax at any time if removed?
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