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.


  New Posts New Posts RSS Feed - If you file for bankruptcy b4 10 years...
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedIf you file for bankruptcy b4 10 years...

 Post Reply Post Reply
Author
mark35TO View Drop Down
Newbie
Newbie
Avatar

Joined: 09/December/2005
Points: 12
Post Options Post Options   Thanks (0) Thanks(0)   Quote mark35TO Quote  Post ReplyReply Direct Link To This Post Topic: If you file for bankruptcy b4 10 years...
    Posted: 09/March/2006 at 12:28pm

I want to get an answer to this question, hopefully somebody knows...

I found out that legally I didn't wait 10 years to file for bankruptcy (I left school in May/early June 1995, have a diploma dated June 15 1995, filed for bankruptcy on June 20, 2005 when I legally had to wait until July 1st according to OSAP), and still owe my C.S.L.   I wasn't told by my trustee about this and I raised hell when I did find out that they screwed up. 

Now I have to appeal to have the loan included, but when I demanded that the trustee firm pays for my legal costs, they said "but it would have gone to a hearing anyway because they would have opposed your discharge regardless of the filing date."  Is this true and would it have cost less if they had signed the papers after the 10-year waiting period?  The trustee is paying for my costs but they are laying a guilt trip on me....does anybody have experience with this crap?

Thanks.

 

 

Back to Top
Sponsored Links


Back to Top
Hunter2 View Drop Down
Groupie
Groupie


Joined: 23/October/2003
Location: Canada
Points: 197
Post Options Post Options   Thanks (0) Thanks(0)   Quote Hunter2 Quote  Post ReplyReply Direct Link To This Post Posted: 10/March/2006 at 2:56am
Mark
My understanding is that the feds will oppose any discharge even after ten years. That way they are recouping some of the money and sending the message that student loan debt is not disposable. If you check out http://www.canlii.org and look up student loan bankruptcy it will display the type of conditions on that you are typically set. In my opinion they are generally fair and include things like stopping interest, making payments income contingent, and setting an amount payable over a set period of time rather than "forever". I do not know how one goes about having a hardship hearing without claiming BK though. Perhaps John can help explain that.

However, do not let the trustee guilt you . They should know their job better than this. Before encouraging people to claim BK only to leave them hanging in the wind? If they knew the feds would oppose the discharge in the first place then why did they not tell you that??????. I mean really if you were aware would you have bothered? The feds would have opposed the discharge regardless of the date set and they should know that. Dunwoody is culpable in the advice they gave. It was incorrect on two counts. Both in terms of the date declared and the unconditional discharge.

You are owed this minimal help from them and in fact may very well set precedent for this type of proceeding. I actually think they are more responsible for the fact that they did not inform you that your student loans were not going to be discharged without a hearing.The date screw up is negligible because the feds would oppose discharge anyway. I think they are concentrating on that aspect to try to make you feel "guilty" like you somehow owe them when in actuality they owe you some help for allowing you to claim BK without doing their job properly and filling you in on the likely opposition to your discharge!
GRRRRRRRRRRR
Good Luck.
Back to Top
mark35TO View Drop Down
Newbie
Newbie
Avatar

Joined: 09/December/2005
Points: 12
Post Options Post Options   Thanks (0) Thanks(0)   Quote mark35TO Quote  Post ReplyReply Direct Link To This Post Posted: 10/March/2006 at 11:41am
Great information in your statements and the website provided....Thanks.
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.