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 - Filing Taxes/Defaulted 10yr Loan Question
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedFiling Taxes/Defaulted 10yr Loan Question

 Post Reply Post Reply
Author
rollothehorse View Drop Down
Newbie
Newbie


Joined: 20/May/2014
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote rollothehorse Quote  Post ReplyReply Direct Link To This Post Topic: Filing Taxes/Defaulted 10yr Loan Question
    Posted: 20/May/2014 at 8:43am
Hi there,


I had a BC & Canada Student Loan back in 2004-2005 for just under 10,000. It's been almost 10 years and I never made a single payment on my loan. I've been working non-stop, full time, often two jobs at a time, and have never been in a position to start paying it off. It's been a few years since I've heard from any Collections Agencies about my unpaid loans, and since I don't own any significant assets or use a credit card, this has never really affected me. I've also NEVER filed my taxes. This is due to a number of reasons, with details which I won't bore you with. 

I've always know that there is a 6-year limitation period that bars the Government from collecting loans after this period has expired, which in my case, it certainly has. 

What I would like to know, is that since I'm currently in the process of filing my taxes for the first time, and all my back taxes dating back to 2001... will the Government still have the right or the capability to garnish my Tax Return or GST rebates? I am owed a lot of money from the last 3-5 years specifically. I don't want to file if it's just going to be tacked on to a mountain of 10-year old interest for a debt I have no intention of ever re-paying. What are my options?

Replies from people who have first-hand, legal, factual information only please. 

------

"However, the department has previously said that more than 98 per cent of the loans written off by the government are dropped because of the expiry of a six-year limitation period between when the borrower last acknowledged a loan and any legal activity by the Crown to recoup that debt.

Once this period has expired, the Crown no longer has the authority to collect the debt.

In an attempt to collect the debts before the government is legally barred from doing so, the Canada Revenue Agency will send monthly statements and collection letters, recoup income tax refunds and refer accounts to the Attorney General of Canada, which could potentially garnish wages or seize assets."

http://o.canada.com/news/national/student-loan-writeoffs-reaches-540-million-with-another-44000-going-unpaid 



Back to Top
Sponsored Links


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.