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 LockedCan the bank seize money from other banks

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Poohat View Drop Down
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    Posted: 25/July/2006 at 3:11pm
Can Scotia bank seize money from another bank? I havent used scotia bank in ages ...but I am worried they could seize money from my other bank/s ...is this possible?
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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: 29/July/2006 at 1:23pm

Not without a judgment certificate, an execution order, and knowledge of the particular bank account to anchor the order.

Johnny

www.cfwgroup.ca

 

 

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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BigFatherA View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BigFatherA Quote  Post ReplyReply Direct Link To This Post Posted: 03/August/2006 at 4:23pm
But they can hose any Scotia account you may open while they still have the loan.  That's why I have ZERO accounts with the Royal Bank. . .
BigFatherA
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non carborundum illegitemi est
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Honey Bee Quote  Post ReplyReply Direct Link To This Post Posted: 06/December/2009 at 4:38pm
Originally posted by Johnny Johnny wrote:

Not without a judgment certificate, an execution order, and knowledge of the particular bank account to anchor the order.

Johnny


I completed my degree at Queens in 2003, then went to the USA and lived there until recently.  I never made arrangements to repay OSAP, and I haven't paid anything towards this debt (approx $20K).  I recently returned to Wawa, Ontario and intend to live here again for a few years at least.

I am wondering, if I set up a chequing account, can OSAP or the Canadian government, or a related collection agency take the money out of the account without my permission for repayment? 

I ask because I had an account with HSBC and one day, shortly after I had moved to the USA, they paid the entire balance of my account to OSAP (around $300) without asking my permission.

Obviously my US accounts are beyond their reach, but for practical reasons I will need a Canadian bank account again.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 07/December/2009 at 7:16am
Not unless they have a judgment in place, and know where your accounts are.
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 BigFatherA Quote  Post ReplyReply Direct Link To This Post Posted: 17/December/2009 at 8:40am
It seems that might not be true for US accounts (at least in some states) and some debts.  Currently its second mortgages but who knows what the future will bring?

http://www.silive.com/news/index.ssf/2009/12/homeowners_are_getting_hit_a_s.html


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