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 LockedCIBC - Paid off, but in collections?!?!

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LTeeple View Drop Down
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    Posted: 20/December/2004 at 10:23am

What a great forum. I wish I knew about this forum 2 months ago...

Here is my history:

Prior June 10, 2004: Made regular payments of approx. $33/month on my CIBC student loan (Obtained thru OSAP, August 2000). Never late at all. Not even by a second.

June 10, 2004: I realize I have less than $200 owing on my CIBC student loan. I contact a CSR requesting information in how to pay it off. I was advised to send in a fax with my student loan account number, and the sentence 'I authorize CIBC to debit $287.60 from my account on file, the remaining balance of my CIBC student loan account'.

October 20, 2004: I receive 2 envelopes from CIBC - both containing identical letters dated September 17, 2004 stating I had NOT paid, and I was in jeopardy of being sent to collections.

October 30, 2004: Approx. 12:30 noon, I went into a local CIBC branch. As the fax had been bungled, I insisted on speaking with a real person. The person brought my account on her screen, and gave me the most current oustanding balance. I paid cash to her, and received a receipt in turn. She assured me it was paid off.

November 26, 2004: I received a letter from a collection agency (NOR-DON) dated November 23, 2004. This letter stated that I had $213.30 owing, and the agency was acting on behalf of the Ontario Management Board Secretariat. I had 30 days to act before the claim would be registered with the credit beaureau. I promptly called the CIBC student loan centre and was flat out told that no, I never did make a payment. I assured the CSR that I did, and had a receipt in my hand (called a Student Loan Accelerated Deposit slip). The CSR again said no, I never paid. I demanded to speak with a manager.  The manager told me the following:

  • CIBC received my fax request to have the remaining amount debited from my account on June 11, 2004
  • CIBC attempted to debit my account on June 11, 2004, but the attempt was declined
  • Because I waited until October 30, 2004 to pay, my account was in 'Transit' - to be sold back to the guarantor (I assume Ontario Management Board Secretariat).
  • Suggested I call the Ontario Management Board Secretariat.

December 2, 2004: I called the Ontario Management Board Secretariat, who told me that since I paid off my account, and the government paid off my account, that I should call CIBC Student Loan centre back. Obviously something was amiss, because my loan was paid off twice.

December 2 2004: I went in to my local branch of my regular bank to do an investigation for the payment (Dated June 11, 2004). My bank has no record of an attempted authorized debit from CIBC since my last regular payment of $33 in May, 2004, nor do they have any record of any NSF charges that would've ensued from a non sufficient return.  My bank CSR and I speculated that perhaps CIBC attempted to debit from an incorrect bank account.

December 3 2004: Called CIBC Student Loan centre, and spoke with a new CSR. This person was empathetic and understanding. She assured me that she would initiate a dual investigation:

1) Investigate the failure of CIBC to debit my account for the amount outstanding as per my instructions sent via fax June 10, 2004.

2) Investigate why I am in collections, if I paid off account October 30, 2004.

I got off the phone with this person feeling better.

December 13, 2004: Received a letter from CIBC dated December 7, 2004 stating that after investigating my account, CIBC has found no error on their part, and I am to proceed to work with the collection agency to pay off the amount 'owing'.

Today, December 20, 2004: I again called the Ontario Management Board Secretariat. I was once again told that this is CIBC's issue, and I will not get help from them. I was given the CIBC Ombudsman phone number (long distance, I might add).

I called the collection agency, to ask for a reprieve while I try to find out what is going on. I had to leave a message on a voicemail.

I went into the CIBC branch to talk to a real person again. The gentleman I spoke to was baffled, apologetic, and assured me he will get the situation rectified. I sat with him in his office while he made some phone calls. I almost felt bad for him, as he was getting the exact same runaround I have been getting.  He obtained a copy of all my documentation, and assured me it will be cleared up by end of day. I have yet to hear from him.

--------------End of story. So far... ---------------------------

I feel victimized by CIBC's lack of understanding of my situation, lack of communication, and poor record keeping. I have been called a liar by 2 different CIBC CSR's, and a CIBC manager. I am also deeply annoyed that CIBC received my payment in full, and then 2 days later, collected the full payment from the Ontario Management Board Secretariat.

I have invested approximately 6 hours in my own time for investigations into this matter, and as well, have dealt with undue stress. I fear that my credit will be blemished (which will affect my standing with an extremely competetive job application, and will affect my goal of purchasing a home).

If anyone has any further suggestions, I deeply appreciate it.

------------------------------------------------------------ -----

Thank you for your time.

Have a great day!
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polyhymnia61 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post Posted: 20/December/2004 at 2:44pm

Welcome. You are in good company, LTeeple. I worked for them for 11 years and I was STILL called a liar. So it ain't you.

But you've come to the right place...I'd contact Johnny, considering you've jumped through all the hoops yourself and gotten nowhere.

Look on the main page for the CWG link...

Poly

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Post Options Post Options   Thanks (0) Thanks(0)   Quote kwelmm Quote  Post ReplyReply Direct Link To This Post Posted: 20/December/2004 at 3:20pm

LTeeple,

It's definitely not you!!  poly is right!

I can empathize with you--I have also been assumed a liar.  It seems the banks and the government and the lawyers are never wrong .

It sounds like you have worked very hard at solving this and Johnny can help you out if you want.

 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote LTeeple Quote  Post ReplyReply Direct Link To This Post Posted: 21/December/2004 at 5:08pm

--------------------UPDATE---------------------------------- -

I got a hold of the collections agency, NORDON yesterday.

I was told that I need CIBC to 'recall' the loan. Question: What is a loan 'recall'?

Haven't heard any resolution from the CIBC personal banker yet. He is definitely trying for me. I figure he's getting the exact same runaround I have been. Poor guy, I almost feel bad for him!

Thanks for the empathy, above posters. I appreciate it. Right now, I'm gearing up to buy a home, and I fear that my credit will be affected. Since CIBC won't admit that they lost the final payment (TWICE!!) then I fear I'll end up paying the money to protect my back. That is just not fair!

I have to say, after reading everyone's difficulties, I sincerely feel embarassed to post my measly problem here! I pray for a resolution to all you who are suffering.

Have a great day!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kwelmm Quote  Post ReplyReply Direct Link To This Post Posted: 21/December/2004 at 5:15pm

I believe a loan recall means that CIBC can have the loan taken out of collection status and dealings are back with the bank.

I could be wrong though....I'm hoping not . Could someone else verify???

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 21/December/2004 at 5:30pm

 

 That is what recall is. The lender would recall it from the collection agency.

 If it is discovered by the lender that errors have occured which resulted in the account being closed off and defaulted, then they must recall the loan. Otherwise, it would be an offense. The trick is proving it as everyone is aware. The other reason would be rehabilitation or reconciliation.

 Johnny

 

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 Islander Quote  Post ReplyReply Direct Link To This Post Posted: 21/December/2004 at 5:46pm

Getting an erroneously listed account recalled happens. Comets are seen in the night sky.

The events occur with approximately equal frequency and are cause for fear and trembling or joy and exultation because of their rarity and therefore cosmic significance.

CIBC must 1) actually believe a client. 2) spend time money and energy investigating on their behalf. 3) find their own error. 4) admit their error. 5) do something about their error.

It is a very rare planetary alignment under which all of those conditions can exist. It happens, but never more than once in a generation or two.

Sue the mother f*ckers.

What? Me, worry?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kwelmm Quote  Post ReplyReply Direct Link To This Post Posted: 21/December/2004 at 5:55pm
  My side hurts from laughing so hard, Islander.....stop.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post Posted: 22/December/2004 at 2:52am

Hey, Islander...I DID receive sign once that monkeys DO have the ability to fly out of my back passage...

...A letter of apology from the CIBC offering to recall all my loans!!! So, it CAN happen, LTeeple...

And, BTW, don't be embarrassed. It's not the amount of money involved that counts, it's the PRINCIPLE. Your problem is as valid as anyone else's...

Poly

 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Islander Quote  Post ReplyReply Direct Link To This Post Posted: 22/December/2004 at 2:56am

And a Child was born unto a virgin mother....

I guess it's the time of year to believe in that sort of phenomenon.

What? Me, worry?
Alfred E Newman
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Post Options Post Options   Thanks (0) Thanks(0)   Quote LTeeple Quote  Post ReplyReply Direct Link To This Post Posted: 22/December/2004 at 12:27pm

... But wait! There's More!

Yes that's right, the saga continues...

I called the collection agency today to let them know that I am actively working with a CIBC personal banker on this matter. The lady was rude, belligerent and basically not very helpful until I flat out told her I was looking for information ONLY. She was giving me some schpeal about 'You have no idea how many ppl I deal with who claim it's not their fault, ...' blah blah blah, yadda yadda yadda. I heroically supressed the urge to say that you chose the line of work lady, enjoy.

Anyways, they told me that it's up to CIBC to pay the gov't (Ontario Management Board Secretariat), who in turn will cancel the collection action. The Ontario Management Board Secretariat will be the ones who will have to remove the derogatory remark on my credit history regarding this issue (I feel a BIG fight over this one..).

I got home from work today, and there was a letter waiting for me from CIBC National Student Centre. It's a cheque for the FULL AMOUNT I paid in October (when I originally THOUGHT I had everything paid off!!). There is NO letter of explanation, just the words 'Returning payment to student'. I believe they are trying to absolve themselves of the responsibility of the mistake.

I am NOT cashing the cheque. I am taking this in to the personal banker, and telling him that it is CIBC's responsibility to clear this up, as the mistake was theirs. I really love how there is no explanation. They are really passing the buck here, and I am DISGUSTED. In a sense, there is a marginal victory for me, as they acknowledge (thru the cheque) that they DID receive money.

Any other advice is, as always, greatly appreciated.

Cheers



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Have a great day!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Islander Quote  Post ReplyReply Direct Link To This Post Posted: 22/December/2004 at 12:56pm

Photocopy the cheque front and back. Take the above posts to a law student, paralegal, lawyer or Notary and have them redrafted into affidavit format. Swear the oath. Tape every conversation with the CA and make a record of the time and dates of the calls.

You have a lawsuit here.

'tis the Season to be litigious!

What? Me, worry?
Alfred E Newman
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BigFatherA Quote  Post ReplyReply Direct Link To This Post Posted: 23/December/2004 at 9:12am
An interesting season, all. 

BTW:  Islander:  Comet Machholz will be visible in the northern sky over the beginning of January (at least away from city lights).  On January 7 it will make a conjunction with the Pleiades.  Which is Old Calendar (Orthodox) Christmas! 

Merry Christmas to all!

BigFatherA
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Post Options Post Options   Thanks (0) Thanks(0)   Quote whereto? Quote  Post ReplyReply Direct Link To This Post Posted: 27/December/2004 at 7:40pm
I got mine recalled from the royal, but it was a royal pain in the arse....not something to bet on.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Islander Quote  Post ReplyReply Direct Link To This Post Posted: 27/December/2004 at 11:03pm

Interesting indeed!

Big Father, I wish I could see the Northern Sky from the Southern Hemisphere. Appropriate for the Epiphany!

Although perhaps more typical of the way God treats his children, the death count is at 7,000 and climbing for the victims of the Christmas tsunami that devasted the Sumatran coast and caused damage throughout the archipelago. Mostly children, beacause the first place hit was an orphanage and a pediatric hospital.

Is God telling us that he doesn't approve of Islam? Surely there's a kinder way.

What? Me, worry?
Alfred E Newman
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Post Options Post Options   Thanks (0) Thanks(0)   Quote KimM Quote  Post ReplyReply Direct Link To This Post Posted: 28/December/2004 at 6:02am
glad to see you are still alive islander...I think one of your luckier moments
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote BigFatherA Quote  Post ReplyReply Direct Link To This Post Posted: 28/December/2004 at 12:20pm
Glad to hear you are still with us.

We live in interesting times indeed.  The count (Dec 28) is over 20 000, and Canadian Forces are airlifting aid to Sri Lanka, plane is being loaded at CFB Trenton as I write this. 

Jakarta is only at 6° S.  Most of the northern hemisphere is visible to you.  Face due north on Jan 7, at 8:45 pm standard time.  You will find the Pleiades and Comet Machholtz about 2/3 up from your horizon to your zenith (the point directly overhead).  And no, I don't necessarily believe that comets are portents of doom.

Remember: we are promised a soft landing on the other side, not a smooth ride on this side.  Prayers go out tonight
BigFatherA
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Islander Quote  Post ReplyReply Direct Link To This Post Posted: 28/December/2004 at 3:20pm

Actually because I'm in the Sulawesis until the 6th, I'm on the other side of the equator. I'll give it a try.

The 7000 I was talking about were just the ones in the vicinity of Aceh on Sumatra. Sri Lanka took a lot higher casualties.

It isn't pretty here, I assure you. A lot of death. Mass children's graves and because of the heat and humidity, many will be buried before they are identified.

God sure has a sense of humour.

What? Me, worry?
Alfred E Newman
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