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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panthers View Drop Down
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    Posted: 06/March/2005 at 7:56am
Hi all, I am in a bit of a mess i think, I don't know.  I finally decided to go the consumer proposal route.  I have $65000.00 in debt.  My trustee said i would offer the 4 creditors 49% of the total.  The payments would then be $700.00/month for 4 years.  He said i would be clear of the debt and get a certificate when it is completed.  Now none of these debts were student loans or anything.  They were just regular unsecured loans and a few credit cards.  Can the bank come back after i complete the proposal and ask for the balance.  I was told no by the trustee, that once they agree to the proposal thats it.  Is this true.  Is it really that simple?  Did I make a mistake?  Im 28yrs old, figure I have enough time to start over.  The reason I went to this extreme is because I missed a lousy 2 payments on my amex and they fired it off to collections.  They screwed up my credit rating for 6 years anyway.  For me to pay $65000.00 would take me 12 years at $1100.00 a month. (so the trustee figured it out as)  Did i make a mistake, seems like the other posting here tell me that consumer proposals are just a farce and serve only the trustee's.  HElp!!OuchCry
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panthers View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote panthers Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2005 at 11:00am
Johnny if you are there, do you have any insite into this?  Im afraid i may of made a mistake or not????? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote panthers Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2005 at 1:41pm
Johnny, do you know if there is any banks that have a regular debit card , but carry the visa logo on the card.  It debits your regular bank account, but acts like a visa??
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Post Options Post Options   Thanks (0) Thanks(0)   Quote panthers Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2005 at 1:44pm
Also if you pay monthly payments to your trustee, why does this not get recorded to the credit bureu??
remember to "govern yourself accordingly " Ill tell them that when the proposal is approved!!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2005 at 2:28pm

 

 Panther,

 I have absolutely nothing to do with bankruptcy. What I do is provide stress relief, education, and financial wellness. What bankruptcy does is complicate the hell out of things for most people. People are starting to see the huge clutter and obstacles that bankruptcy leaves behind for them to try and hurdle. As long as the bankruptcy administration remains inthe hands of the private sector, it will always be this way unfortunately.

 My services are not non-profit counseling/debt-pooling, OPD, bankruptcy, consumer proposals so there ar enone of these derogatory comments that you are referring to. What I do is solve the financial problem(s), minimize your stress, and clear you a productive pathway to recovery. It is that simple - and is explained well on my site www.cfwgroup.ca.

 I had also responded you a post of yours in another thread somewhere.

 

John LeBlanc
The Canadian Financial Wellness Group
 
Tel: (902) 464-8727
 

 

 

 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote panthers Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2005 at 2:49pm
Hi johnny, you misunderstand me. I didn't mean you as per say when i posted i meant generally if a person pays to there trustee eg (consumer proposal) why dosn't it get reported to the credit bureau as a payment.  Your cool man, just generalizing ..
remember to "govern yourself accordingly " Ill tell them that when the proposal is approved!!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Agent007 Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2005 at 3:16pm
Originally posted by panthers panthers wrote:

Johnny, do you know if there is any banks that have a regular debit card , but carry the visa logo on the card. It debits your regular bank account, but acts like a visa??

Visa/MasterCard debit cards are not issued in Canada.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2005 at 3:29pm

 

 Actually, Beemo has a Mastercard product like that. Or, they did as a 2 years ago. I have seen cases where people had these accounts.

 

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