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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Geroge_1981 View Drop Down
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    Posted: 24/May/2017 at 4:07am
Hello,
 
I have a student debt around $30k. 90% of it was borrowed prior to 2004. It has been in collections for about 10 years and stopped showing up on my credit report after 6 years. My credit score is really good since that's been off. Up until a couple years ago I was unable to afford payments. I tried interest relieve and all that stuff but was always given the run around. I got frustrated and didn't pay(my fault). Last year they called and I thought it was about an income tax issue and gave them my employer information. they contacted my employer and said they would take wages. I arranged a payment plan (very minimal) and have been paying that since.
 
I was hoping I'd be one of the lucky ones that would get relieve and this would go away. Wishful thinking I know.
 
My question is, my loan is old, is there any type of buyout? They have taken my income tax every year since 2005. The small payments I can make just cover interest. I'd just like this debt to be gone.
 
Thanks.
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 24/May/2017 at 5:49am
There is no requirement for them to accept less. It is something you have to approach them about and demonstrate why they should reduce and settle it. 

You can ask them, and they may agree without any paperwork if the offer is good enough, or they may require a lot of paperwork from you. each case is unique. 


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 Geroge_1981 Quote  Post ReplyReply Direct Link To This Post Posted: 24/May/2017 at 6:36am
Ok, thanks for the update. I've left it for so long as I am still ticked off about the way I've been handled. They seem to leave you alone if you make any type of payment. Saying that, I don't want to see this debt continue to grow. I have mentioned I'll file for bankrupt(which I wont do) and that normally gets them to accept any type of payment.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Geroge_1981 Quote  Post ReplyReply Direct Link To This Post Posted: 24/May/2017 at 6:37am
One more thing I forgot to ask. Does years matter? I mean this debt is now 13-15 years old. Is there any way to fight off interest? They have probably collected 15k from me in taxes/gst ect.
 
Thanks.
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If the loan is active then it continues to grow. The interest accumulation is what the system seems to value most. It is a business, sadly enough. They hug those loan contracts closely and pull them out only to rub them in your face when you ask them to stop charging interest. 

Do years matter in what regard? 


Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Geroge_1981 Quote  Post ReplyReply Direct Link To This Post Posted: 25/January/2019 at 1:08pm
Just an update. I was making payment until I got laid off then found a new job. They continued to complain about the amount I was giving. My employer got a phone call yesterday. She refused to give them information over the phone so they are sending a letter.
I called hem this am asking about a buyout option as I just came into a little bit of money (roughly 25% of what I owe) the lady at the collections said I had to send a written later to Collections Litigations in Ottawa with an offer. So I went a step further and called the CL office. I spoke to a lady there who said I would indeed need to write a letter, explain my situation but not in too much detail along with my offer. She told me that they then take my file (so no garnishing will happen while they are working on it) and that I would need to provide a few years back of tax returns. So I've written a small letter with the amount. Hopefully they accept or at lest negotiate with me.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 25/January/2019 at 4:38pm
If you are dealing with CLAS then it is very clear you are being sued by feds. They wouldn't have carriage of the file otherwise. I would be interested to see if they accept 25%. I am doubtful on the first round. 
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Geroge_1981 Quote  Post ReplyReply Direct Link To This Post Posted: 27/January/2019 at 1:59pm
I was told to reach out to CLAS as the collections office told me they don’t do buyouts and that they only arrange payments. Sorry, I should have been more clear. I don’t expect them to take that offer. As you’ve said they are a business and have already gotten 50% of what I originally owed them by previous payments and them taking my income tax returns.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 27/January/2019 at 2:57pm
Wel they do compromise if the case warrants it. Everything is based on an individual setting with this type of thing and not group or empirical substance. They are programmed to say ih uh no, we don't do this. However, I do this for people and get great results when there is a case for it. But - you must have a case for it, and it must be demonstrated properly in order to gain their trust and pass the tests of good faith in your approach. 

If you want me to do an examination for you, and determine strength of your case, I can do this. It will take a bit more than an hour and the cost of this is only $80.00 CAD. Then, I can introduce you to a settlement officer at the government level - or if you want, I can get involved and mediate/negotiate on your behalf. Cost is very small for this, and there is no commission or fee based on a percentage of financial benefit. Hourly is the way to go. 

If you want to book in just write to admin@solvestudentdebt.com 


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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