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 - Student loan, credit card loans, all in default.
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedStudent loan, credit card loans, all in default.

 Post Reply Post Reply
Author
cremedelacreme View Drop Down
Newbie
Newbie


Joined: 15/August/2011
Points: 1
Post Options Post Options   Thanks (0) Thanks(0)   Quote cremedelacreme Quote  Post ReplyReply Direct Link To This Post Topic: Student loan, credit card loans, all in default.
    Posted: 15/August/2011 at 5:26am
Hi,  

I am inquiring in regards to outstanding debts that I have from the CRA due to my student debt from 2005 to 2008.  The total is now around $13,000.00 and I am working 7 hours per day, 5 days a week, and can barely even survive on it due to bills that I need to pay.  I am a making a monthly payment on this $150.00 per month.  This is not my concern though.  My concern is that unbeknownst to me, NSLSC sent off my loan to the CRA without any sort of indication, and it shows as an R9 in my credit file (sent to collections).  I was unable to pay my loans for a while because I was only working 20 hours per week, and was not making enough money at the time.  While my loan was still with NSLSC, I had applied for interest relief status, and had faxed it, although when I called NSLSC when I found out that they had transferred my loan to the CRA, they indicated that I did not send them those forms.  I have also told them, that they did not send me any sort of correspondence letting me know that my account was being transferred to the CRA.  They told me that it was no longer their problem, and I will need to speak to a CRA representative.  I was wondering how I can take this off my credit report?

During university, I was diagnosed with an anxiety disorder and found it difficult to even get in the bus to go to classes due to severed anxiety.  At that point, I had 3 credit cards, and a part-time job that I eventually lost due to a lay-off.  Those cards remain unpaid to date, and they have been passed on to collection agencies I believe, although there has been no contact between myself and those agencies.  Those accounts are in R9 status as well, and I really would like to get my financial life back on track, within my means financially, and clean up my credit as soon as possible.  I had a credit card protection insurance with MBNA (a $2000 balance), and when I had notified them that I couldn't pay my bills because I was laid off, they indicated that the protection did not apply to me.  I am not sure if I had credit card protection with the other two credit card creditors (TD - a $500 balance and RBC - a $1000 balance).  I am not sure because I basically gave up at that point. The six year statute of limitations will end sometime in March next year for two of the creditors, and one will end in 2013.  

I am not sure what services you offer, but I would like to know if I can fix these things as soon as I possibly can.  I would also like to know what you charge with your services.  I would really like to get my credit back up to par because I would like to buy a house one day, and rebuild my credit.  With the money that I make, plus the amount of bills that I pay now along with living expenses, I don't even know how I can manage paying these past due balances. Please help!    
  


Back to Top
Sponsored Links


Back to Top
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996
Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 17/August/2011 at 12:06pm

Do you have any proof that you did submit the relief request forms? Fax transmission report perhaps?

If you want analysis and advice that will help you approach this matter more productively, and determine what course of action you shouls actually take, our fee for that service is $125.00 tax included. If you require me to speak on uyour behalf and communicate with them to detemrine what their error is/was, and how to go about addressing it, cost depends on how much of my time you require.  I really can't see the cost of this being over $300.00 really.
 
Now the approach you should take should be an aggressive one. What you are describing is something that I get a sense of "hardship" from. Contextually, what you have written, to me it seems as though you are in fear because of this. If this is true, then you can't live being fearful - and leave this unaddressed.
 
I can show you how to deal with this to get a decent result, and potentially greater benefits should your situation be something that paints a portrait of hardship.
 
Johnny
 
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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.