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 LockedMTCU now assigned to Collections

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mikes View Drop Down
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Joined: 19/July/2017
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mikes Quote  Post ReplyReply Direct Link To This Post Topic: MTCU now assigned to Collections
    Posted: 19/July/2017 at 4:11am

I checked my credit on creditkarma.ca and a recently opened June 1 2017 collections from FDR collections shows $5,167 from MTCU.  I believe this debt to be from 2001 or 2002.   My credit score was 618 and dropped to 594 when this happened.   1.  Is this legal for FDR collections to start a new open date on this old loan?   2. Can this new open date stay on my report for 6 more years and effect my credit score negatively each month?   3  How do I remove this information from the report?  Do I contact the collection agency and remind them of statue of limitations?

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KimM View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote KimM Quote  Post ReplyReply Direct Link To This Post Posted: 23/July/2017 at 4:01pm
Me too. I am in Ontario. The loans are from '90's-2001. Mine is around $20000 and my credit rating on kremitch karma went down 58 points. Would like to know more about this. Thanks
Nehemiah 5:7 Then I consulted with myself, and I rebuked the nobles, and the rulers, and said unto them, Ye exact usury, every one of his brother. And I set a great assembly against them.

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KimM View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote KimM Quote  Post ReplyReply Direct Link To This Post Posted: 23/July/2017 at 4:35pm
At the same time trans union posted this to my account they also reactivated a monthly credit report I cancelled last year.. I had to call them to cancel it and filed a complaint to my credit card company. Looks fraudulent to me. And I have said before, there is a lot of hand holding and scare tactics which i suspect begets kick backs. Just saying eh?
Nehemiah 5:7 Then I consulted with myself, and I rebuked the nobles, and the rulers, and said unto them, Ye exact usury, every one of his brother. And I set a great assembly against them.

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a.j View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote a.j Quote  Post ReplyReply Direct Link To This Post Posted: 01/April/2018 at 2:02pm
Hey, same thing happened to me.  Verbatim:  

I checked my credit on creditkarma.ca and a recently opened June 1 2017 collections from FDR collections shows $6255 from MTCU.  My debt is from 1995-1998.  I haven't lived in Canada for 8 years.  Before I left, I did my taxes and naturally that went to the student loans which were from Ontario.  I am guessing that is considered acknowledgement of the debt.  Regardless, I don't believe there is any statute for limitations in Ontario.  Did you ever find out answers to your questions?

1.  Is this legal for FDR collections to start a new open date on this old loan?   

2. Can this new open date stay on my report for 6 more years and effect my credit score negatively each month?   

3  How do I remove this information from the report?  Do I contact the collection agency and remind them of statue of limitations?

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Post Options Post Options   Thanks (0) Thanks(0)   Quote A.C Quote  Post ReplyReply Direct Link To This Post Posted: 07/August/2018 at 2:18pm
FDR Collections can always collect on a debit from MTCU - MTCU is Ministry of Training, College and Universities. There is no statute of limitations on student loans.

It can and will stay on your credit report (Trans Union) after the 6 years. It will negatively affect our credit IF you made contact with the debt collector. OR if you are going to get a loan and they run a Trans Union it will just show the status and any lender can use that to determine the risk on you paying back the loan you are trying to take out. If you didn’t make contact and If you get an equifax report, it will not show after 6 years.

If it is a Student loan - which is what MTCU is - there is no statute of limitations and for you to call would be acknowledging the debt.

Hope that helps!
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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: 14/August/2018 at 11:52am
Very old Ontario loans may have a limitation period. It all depends on when the loan was taken out and when it defaulted. If it defaulted on or about January 1, 1998 there could be a limitation period. 

Calling them by telephone does not constitute acknowledgement (as an admission of liability of guilt) that would disrupt a limitation issue. 

Lastly, any creditor or member of the credit bureau can report a debt indefinitely that carries no limitation period that prevents then from recovering it. 

 
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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