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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kitty View Drop Down
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Location: toronto
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kitty Quote  Post ReplyReply Direct Link To This Post Topic: i just GOT SERVED!! ack! what to do now?
    Posted: 19/January/2018 at 7:54am
Hi all

Im so glad I found this forum.
I graduated in 2006 and everytime i did my taxes my refund went to paying back my student debt.
In 2013,I had to move in with my mother for a year.
Then was hired as a sessional instructor in another province for 2 yrs.
Came back to ontario (for another adjunct position) and was recently served court papers for the remainder of my loan.

Im thinking of claiming bankruptcy (as we know adjunct teachers get paid in peanuts)
Though I don't know where to begin to initiate process and do I contact those who served me,or should i get a paralegal (I can't really afford this)

Where do i begin? What do I do now?

any help would be much appreciated

thank you


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secondchance View Drop Down
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Joined: 31/January/2018
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Post Options Post Options   Thanks (0) Thanks(0)   Quote secondchance Quote  Post ReplyReply Direct Link To This Post Posted: 31/January/2018 at 11:46am
I bankrupted my student loans and I live in BC where things might be different, but the first thing is that you need to contact a bankruptcy trustee. 

Try to find a small, family-owned trustee company, rather than going for the big companies. The reason being that your trustee isn't really on your side. They get paid more money depending on how many assets you own, or how much you eventually have to pay back (which you might need to if your debtors think they can get money from you). If you are in the Lower Mainland (Vancouver), I can refer you to mine, who is a very nice man and his son. 

The big companies give their junior trustees the student loan cases because there isn't a lot of money to be made, which means you'll have an inexperienced trustee who probably won't know what they're doing. 

Once you contact a trustee, you will talk with them and determine whether you should go in the direction of a bankruptcy, or a 'consumer debt proposal' which, if you have steady income, might be a good idea. 

If you file bankruptcy, it doesn't mean it's all over. Some things are over: the collections agents will stop calling you immediately. I'm not sure, but I'm pretty sure that any lawsuits regarding your loans will be dropped until the outcome of your bankruptcy. 

What might happen though, is that your debtors will decide that they don't want to let you bankrupt your student loans. If you have a record of paying your loans in the past, or a moderate income, they probably will try to fight. In that case, your trustee will be responsible to negotiate a deal with your debtors. This will most likely be significantly less than your actual debt, which you will pay over the course of 2 years. 

I hope that helps. Good luck!
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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: 04/February/2018 at 7:01am
Very poor advice. 
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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