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rtgurl View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote rtgurl Quote  Post ReplyReply Direct Link To This Post Posted: 08/May/2009 at 9:20am
I sure do need some help. I recently returned to school. Sent in my paperwork in August 25th, 2008 The day I started. Sent in the paperwork to the address I was told by my School. Called CIBC student loans to let them know it was coming and could they please let me know if it isn't received. 2 months later I recieved the paperwork back stating my loan was over 10 years old so I needed to send it to a different place, but they did not provide that information. So I called CIBC student Loan centre to ask where to send it to specifically. Sent it via registered mail to the address they gave me. Then they told me they couldn't do anything because the paper work was in my maiden name. I had, when I was married (10 years ago), faxed to them a copy of my marriage licensce and drivers licensce showing the name change.
 
So I fax back the papers and the change of ID, only to be told the papers are more than a month old so I need to get new ones. We are now in January. SO I go to school get new papers and another copy of my ID change only to be told that I need to have them faxed by the school and have the school call. GO in again get it all together, have the school call then fax and wait to call as they say it take about 3-4 business days for the faxes to catch up. call back and get told everythingis good that the loan is in intrest free status and that it is back dated to when I started school and that I will not have to worry about any back payments only the interest that accrewed will be tacked on to my loan. No problem I say, take down the lady's name and write it all up on the papers that I received.
 
Now it is February and I receive a registered letter (unsigned for) in my mailbox along with one at my parent's home. Stating that my loan is in serious arrears. SO yet again I call and ask what I need to do to rectify this situation and am told I need to resend everything via fax to a specific department and provide proof of name change AGAIN!!! Get it sent in call them back after 4 days, yes they have received everything and all is good.
 
Today I received a letter from a collections agency about my loans. I am not sure what to do. I ABSOLUTELY do not want to deal with them and yes I have the money to pay it out but we were saving that in case my hubby gets laid off again (was laid off for 3 months starting in January). I called CIBC student loan centre and was told I had to call a different number, that they could do nothing for me because it was sent, without warning, to the collections agency. So I call and keep getting a number to leave a message at. SO I called CIBC again and asked to speak to a supervisor and they refused to send it further. I told them that I want to speak to a manager or supervisor again they refuse. Dealing witht them over the course of the last 10 months has been absolutely horrendous.
 
I have paid more than my monthly minimums and was able to pay my provincial loan off 2 years early. Have only missed a few payments by a day or two over the course of 10 years and am looking to get my loan into interest free status again as I have another 2 years left in my program. Just so ya know, I only owe $1277
 
I need help in knowing what I can do about this
 
Please help us!!!
 
Cheers :)
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Farah View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Farah Quote  Post ReplyReply Direct Link To This Post Posted: 08/May/2009 at 2:07pm
Does anyone have a feedback for me.
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insanous View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote insanous Quote  Post ReplyReply Direct Link To This Post Posted: 11/May/2009 at 5:39am
The rich get richer and the poor get poorer!
 
I think the problem is that we under value ourselves. If you finished school, which put you $40,000 debt, don't take a $2000 a month job, and have to pay $800 a month in loan repayments! We're worth so much more. We should be making $6000 a month and these little debts wouldn't be a problem. If the jobs not there then create one or sponge off welfare, work under the table, do what you gotta do and tell the government to *BLEEP* off! :) Don't give in and compete with your brothers and sisters and make all jobs worthless.
 
I think what we really need is some new laws on minimum wages. Any technical job that required schooling should have a much higher minimum wage where the person clears at least 3k a month. Otherwise, we just all compete for the jobs and the employers (the rich) get away with murder! Not to mention all the unqualified people they probably hire for cheap just to get even richer!
 
Maybe it's college graduate must be paid minimum 3k a month, university 4k a month, and depending on degree, like masters, 5k a month, phd 6k a month, etc..
 
It just makes sense. Times have changed and laws need to change with them. There must be a reason for having a minimum wage in the first place. And I'm thinking the same reason makes it logical to have several minimum wages since not all jobs are the same!
 
Anyways, just wanted to give my opinion. Don't flame me if you don't agree with it! lol
 
 
 
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Madmorrigan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 12/May/2009 at 6:46am
There are at least three minimum wages (though, I agree, the whole system needs to be looked at again):
1. Student minimum--if you're under 17.
2. Server minimum--most people don't realize this is less than regular minimum because servers are expected to make tips....though not all do.
3. Regular minimum--for everyone else.

This doesn't take into account the employment agencies that pay minimum, but charge their clients (the companies they send the contract workers to) almost double.

I just read the Finance Dept's release of public servant salaries over $100 000...the guy that runs the hospital I work at made $719 000 last year--but closes beds on a regular basis because there's "no money"....perhaps if they didn't pay you quite so much, Cliffie. Oh, and he has a BSc and an MBA. There are people on this board who are better educated and can't even feed their kids.

Today, I am thoroughly disgusted.
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insanous View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote insanous Quote  Post ReplyReply Direct Link To This Post Posted: 12/May/2009 at 11:13am
Acutally, now that I've thought about it some more, there's no reason why everyone is Canada shouldn't be rich. There's no law against it! There should actually be laws to insure it!
 
Think about it! If we had a minimum wage of $20 an hour that would make sense.
 
Our time on this planet is so precious and we give it away everyday likes it's nothing. We have a limited time with friends and family and we should make the most of it. With the technology we have, and the vast resources of our country at our fingertips, there's no reason that we can't all be rich.
 
A person who takes time out of their lives to deliver you food, to make you food, to clear your table, to answer calls for a company deserves so much in my opinion. Just as much as a lawyer or doctor. Perhaps they in turn do deserve a little more taking the time spent in school. And we should probably be paying people to go to school, not the other way around!
 
And yes of course this will reduce jobs. We won't get the manual labour factories setting up shop in our country and personally I don't want them! Bring in factories with high tech and automated robots which many are already! I'm sure a few highly paid workers won't affect their bottom line versus transportation costs.
 
And yes many small business might go under a lot. But we don't need a McDonalds on every street corner! We're rich remember, we have vehicles!
 
And the government has to be smart and realize that less jobs means more support. Change welfare to a proper support system. Meaning if you don't work and get rich on your own then the goverment supports you well with all it's resources. You may not be able to afford to have people do things for you like pay a delivery driver $20 everyday for his services but you should be able to afford food, comforts, a home, all from assitance because we've designed it that way.  
 
So guarantee everyone gets $1600 a month. If you work, you're guaranteed $3200 a month. If you go to school it's paid for, plus $1600 a month, plus you get 6k a month once you start working!
 
Make it illegal to have salaries, contract delivery drivers, all the BS ways employers get around paying people.
 
Doesn't anyone see it's time for change?
 
The government has the power, it's just not weilding it right, it has no vision.
 
We need vision I think.
 
Pass this along to any politician you know please!
 
 
 
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Jafe View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jafe Quote  Post ReplyReply Direct Link To This Post Posted: 17/May/2009 at 7:13am
Hi Everyone,

I have found alot of usual information on here and just wanted to run my situation by here and see if any advice is available.

My wife is not currently working (stay at home mom) and I have been making the monthly payments on her student loan for some years. A couple of years ago, due to her at home business she tried to start, we ended up in credit counseling and they suggested to her to just declare bankruptcy since it was the best option and every asset is in my name alone. We did this and the CIBC student loans were not outside of the 10 year period, so they remained intact. CIBC student loan center put the loans on hold until the bankruptcy was discharged. Several months after discharge, they contact us about the payments and we started making $200 a month payments to them. At about Christmas time (dec 2008) I was off of work for a couple of weeks without pay due to work being slow, so we go behind on bills. This is when the payments to her student loan mostly stopped. Now after 4-5 months of partial or no payments, CBV collections from Alberta has sent us a couple of letters.

On Friday, my wife called the CA and they told us that there is no option for payment plans, that has passed, we must get a loan, refinance the house, ask all friends and family to pay it off. We were scared at first. After calling back and telling her that we would talk to the bank on Tuesday about options, she asked for a good faith payment. I am currently not making as much money due to work being slow with the current automotive sector and economic conditions, so money is tight. We offered $50 good faith payment and she said she wanted $360 then said how about 1/3 of that, ($120). My wife said we would try to make that payment.

Based on the fact that she is not employed, the threat of legal action is false. The fact that I am the only name on the mortgage and the vehicle, they cannot get anything there. I also read on here they cannot ask us to ask family or go into further debt to pay this off. Especially with here bankruptcy, she cannot get money if she tried right now. The loan amount is about $10,000 left owing. She has also been out of school for just over 10 years now.

So here are the questions:
Should I send the good faith payment?
Should I just call back and tell them that we will negotiate payment terms only?
Should we seek help before dealing with CBV at all or try and see what they suggest?


Any help would be appreciated, as the threatened date to act is Now wednesday. (I found this stressfull, until I read here and found out that is a common tactic). I want this to go alright and do not want to start off on the wrong foot with these people.

Thanks
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old hippy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote old hippy Quote  Post ReplyReply Direct Link To This Post Posted: 17/May/2009 at 11:50am
Hey Madmorrigan,
 
Small world - sounds like we could be at the same hospital, in the same town.  I go through hell every time my contract comes up and have to listen to the spiel about "not enough money in the budget" - at the same time, there are more over-paid managers and directors than there are worker bees.  And an awful lot of people that have relatives in the right places if you know what I mean....
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CONFUSED73 Quote  Post ReplyReply Direct Link To This Post Posted: 31/May/2009 at 3:29pm
I recently was served with a document to appear in court for an order for leave to issue a writ of seizure and sale to be filed with the sheriff in my county.  My student loan is from August of 1992.  The amount was for 3346.00 and since with the intersest the attorney general has filed requesting...I am not sure because it does not indicate it on the paper work.  I am afraid because I do not want to do.  I would like to offer payments of some kind but do not have much to offer and am not sure what to do.  PLEASE help!  My date for this action is set for June 12 and the paper work that the lawyer sent does not indicate what I am suppose to do.  I was not even served the original paperwork back during the initial file in 1996 to my knowledge.
What are my options here.
 
Thanks
Confused Very Much and Concerned!
CONFUSED
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Johnny View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 02/June/2009 at 2:58am

If you want some help with this, call me privately.

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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mike harris View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mike harris Quote  Post ReplyReply Direct Link To This Post Posted: 17/March/2010 at 3:10pm
hey there. I graduated from an ontario university in June of 2000, am I able to file for bankruptcy on an ontario student loan which is now being dealt with by Total Debt Recovery?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote blackcat Quote  Post ReplyReply Direct Link To This Post Posted: 18/March/2010 at 10:42am
If your end of study period is 7 years old then the loan can be discharged with bankruptcy. Your end of study would be the end of the last month you were in school and received the OSAP or any benefit of it. Like say you went back to school 5 years later and were actually paying the old loan then got payments deferred due to being a full time student again, even if no new OSAP is given the deferrment resets the clock.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mike harris Quote  Post ReplyReply Direct Link To This Post Posted: 18/March/2010 at 12:58pm
thanks. that made my day.
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Madmorrigan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2010 at 1:16am
Not so fast....I know this has been discussed ad nauseum, but I believe that your "end date" is the last day you attended school, regardless of whether you received OSAP/Student loans:

http://www.bankruptcy-canada.ca/student-loans/2009/12/seven-year-period.html
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Post Options Post Options   Thanks (0) Thanks(0)   Quote blackcat Quote  Post ReplyReply Direct Link To This Post Posted: 21/March/2010 at 12:25pm
I went back to school part time in 2006 and still attend with no student loans. Every year I claim education amounts on my tax return so it's no secret. My end of study date is still 2001. The person I talked to who gave me this date specifically told me that it was when I last attended school while receiving a loan and that it would only change if I had received another student loan or had payments deferred for being a student again. Since this is their job I should hope they know what they are talking about.
Anyhow, my date did not change, so I do believe this is how it works.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote grasshopper Quote  Post ReplyReply Direct Link To This Post Posted: 21/March/2010 at 5:15pm
I find the response interesting.  It seems that there is contradicting information and I would be interested to know whether anyone else has gotten similar information from student loan representatives.  My understanding was also the same... that if you went back to school the bankruptcy qualifying period begins again at time zero regardless of whether you have received another loan or not. 

I have read the link posted above and also looked up some of the information regarding student loans and bankruptcy.  It seems that the representative from CSL was in error.  However, I would be interested to know if there is some rule exception or other that they based their response on.

On a similar note, I have recently (2009) had the CRA take two years of refunds as payment towards my student loan debt.  I was wondering if anyone knew how this "payment" towards my student debt might affect my ability to qualify for bankruptcy?  I don't remember but I think I recall something about a payment also "re-setting" the clock back to zero?

Kind regards,
Alex
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Madmorrigan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 22/March/2010 at 11:45am
Alex....the tax return claw backs are not 'voluntary' payments, so they do not reset the clock. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mike harris Quote  Post ReplyReply Direct Link To This Post Posted: 22/March/2010 at 2:57pm

I did a five month course in 2006 with no payments deferred from my OSAP debt, but I did get a $400 loan for tools for the apprenticeship program I took. I graduated from Uni. in 2000, can I or can I not file for bankruptcy??

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Post Options Post Options   Thanks (0) Thanks(0)   Quote blackcat Quote  Post ReplyReply Direct Link To This Post Posted: 22/March/2010 at 3:02pm
That link up there is the bad information, the answer is too simple. The link below says another thing, and is also too simple.
http://www.bankruptcy****/studentloans1.htm
:Student loan debt will be eligible for discharge in bankruptcy if seven years have passed since the former student ceased to be a full or part time student.   The Court has interpreted the meaning of “ceased to be a full or part time student” in section 178(1) (g) to not include periods of time when the bankrupt was a student but received no student loans.  (Re Ledoux, 2005 SKQB 75, 8 C.B.R. (5th) 225) "


I think it confuses people because the answer doesn't simply come from whether you were in school or not. You attend school a couple of years with OSAP then don't for 2 but your payments are deferred the last 2 years so of course your end of study period is at the very end of school.

If you go back after a few years off and notify the student loans centre so that you benefit from interest relief while back in school, it extends your end of study even if you did not get a new loan.

If you got student loans then defaulted, they went to collections, and you just ignored them then went back to school without notifying the student loans centre because why would you? You wouldn't qualify for any perks of interest relief, or deferred payments. The end of study period does not get extended.
It even says on the Canlearn site for end of study period that you have to notify them to extend your status as a student.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fed-Up Quote  Post ReplyReply Direct Link To This Post Posted: 23/March/2010 at 2:49am
Originally posted by insanous insanous wrote:

If you finished school, which put you $40,000 debt, don't take a $2000 a month job, and have to pay $800 a month in loan repayments!
 
 
And what if that $2,000.00 a month job is all that is available? Not for anything but I can't remember anyone ever telling me that my BA is useless and not worth the $50,000.00 in loans to get (I was initially in the HBA program and graduated with a BA, went to school for four years and three summers). No one has even told me what I could do with my useless BA work wise, hence why it is useless.
 
What the problem is.... when you default, they keep you there. They report you as a bad debt on your credit file so you can't even get credit if you don't have any. It is difficult for most to get out of default.
 
They way they have math and science etc as mandatory courses to graduate in high school, in your final year, you should be required to take a course that teaches you how to budget, how to manage money etc.... as well as the in's and out's of the options for paying for a post secondary education.  Perhaps then we will know what we are getting into at 18 (or older) where student loans and a post secondary education are concerned, that we will be better prepared for what lies ahead.
 
Meh just my humble opinion.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 23/March/2010 at 12:03pm
Fed up...I whole heartedly agree; if one is (un)lucky enough to get a student loan, there should be a mandatory course in money management before the funds are released.

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