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 LockedTD BANK beyond unreasonable

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freddyzappa View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote freddyzappa Quote  Post ReplyReply Direct Link To This Post Topic: TD BANK beyond unreasonable
    Posted: 04/June/2005 at 1:10am
Just to pass along opinions.

I have been dealing with three large banks Royal, CIBC and TD BANK.

I have run into finanical trouble due to health concerns.

All Banks were duly notified of the problem and were told that all accounts were very likely to go into default because of the health concern.

I was surprised that CIBC were reasonable on this. ROYAL Bank were exceptionably reasonable.

Reasonable in this case just means they hold the defaulted loan a little longer before sending it into collections. Reasonable also means when it does go into collections it is flagged appropiately so that collections companies are aware collection is unlikely and to only pursue the matter "lightly"

That's right, reasonable is really to not harass people that have health concerns.

THIS IS WHAT I WANT TO PASS ALONG ...

TD BANK ... even though they were informed like all the other banks, they still sent everything into collections, with the kill switch on. This resulted in about 200+ calls a month for the past five months. They get away with that number of calls because they consider every separate defaulted loan a separate item and farm them out to separate collections. This means each "collection item" can legally have at least one call every day.

I know TD BANK is the people causing all the collections calls, because ROYAL and CIBC did not even bother to sent theirs to collections yet.

When dealing with TD BANK, remember that someone will get "screwed", either you or them. Make sure it is them.

The only real power I have is to pass this story along to as many people as possible.

The story is TD BANK ACTIVELY chooses to harass people will beyond what is considered reasonable, EVEN WHEN they know there is no way the person is able to pay because of health reasons.

If you choose to bank with TD BANK, I suggest you consider other options.
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