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dujylyn View Drop Down
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    Posted: 24/February/2005 at 11:31pm
well, feelin lonely here, i returned to university as a mature married student. 2 years into my studies, my spouse passed away...there iwas raising 4 teens and just kept on going to classes. well,i did it, got that degree. now, i occasionally get it out and consider whether it would be better sauteed or baked. i searched and searched for that wonderful job. in the meantime been a truckstop waitress, a dollar store clerk, even had the audacity to live on my credit cards when times were lean. yeah, it caught up with me. finally filed for bankruptcy, a last desparate measure. i knew my student loans were not included, although my trustee said that there is legislation pending to give individual consideration to bankruptcy student loans claims. aybody know what is happening with that?
in the meantime, i have been released from bankruptcy 6 months ago and have gotten some pay up phone calls. NSL is still strangely silent. i owe a staggering 60,000 and it is overwhelming. i have a reasonably good job now but it is temporary (filling in for someone on leave)and am just catching up after years of struggling. my payment offers are laughed at, don't even cover the interest. any ideas? (aside from faking my own death)
if you cannot be a good example, you will just have to be a horrible warning
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 25/February/2005 at 1:15am
Alexa McDonough has submitted a private members bill to change the 10 year rule to 5 years for bankruptcy.

How long have you been out of school.

Your trustee was not technically correct in saying that there is new legislation in the works. It has been recommended but no new laws other than the private members bill has been put forth.

The Canadian Federation of Students has challenged the constitutionality of the 10 year rule barring discharge of student loans from bankruptcy. A decision on that court case is due any day now...

Mark
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Post Options Post Options   Thanks (0) Thanks(0)   Quote dujylyn Quote  Post ReplyReply Direct Link To This Post Posted: 25/February/2005 at 6:31pm
thanks for clarifying the legislation concerning bankruptcy, mark. i assume you will share the news on this website when the cfs challenge decision is made? altho i am not sure how excactly this decision will effect me. does it mean student loan bankruptcy will be considered on an individual basis, no matter how much time has elapsed since graduation? I graduated in 2002 so the 5 years is still a little out of reach. 2 years of potential hell. i know it sounds like i simply don't wanna pay but not true, just can't find the 800/month they want. is it better to make an offer in writing, no matter how much below their expectations? better to hide out and say nothing?
if you cannot be a good example, you will just have to be a horrible warning
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Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post Posted: 26/February/2005 at 12:17am

Better to pay what you can afford, and ignore their laughter. I don't know a single soul who can afford payments like that.

I wonder if the Powers that Be that lurk on this site realize that the first reaction people have when faced with ridiculous monthly payments like this is PANIC. They consider hiding and running away because they have been led to believe it's ALL or nothing.

Most, if not ALL, of these people ONLY have loans this big because they had families to support! And the kids don't disappear after graduation!!!

Come on, how many of YOU can afford an extra $800 a month loan and raise children???

That was the thing that disgusted me most about the Harris regime: taking away mother's allowance from students and forcing them into ridiculous debt loads.

The people who can afford it the least are being forced to pay the most.

And that's my early morning rant...Time for me coffee...

Poly

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lola View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote lola Quote  Post ReplyReply Direct Link To This Post Posted: 26/February/2005 at 4:23am
Does anyone know if there are any kind of hardship concessions in
relation to student loans? Sounds like the loss of a spouse & raising
4 kids should qualify. Or am I being a Pollyanna in thinking that the
powers that be give a s#!t about that?
Lola
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Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post Posted: 26/February/2005 at 4:28am

Hi, Polly...

Poly

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lola View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote lola Quote  Post ReplyReply Direct Link To This Post Posted: 26/February/2005 at 1:20pm

Thought so.
Lola
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 26/February/2005 at 2:53pm
Depends which province you are from. People who declared bankruptcy are now supposed to still be eligible for Interest Relief...

check the links to provincial programs on the "Provincial links" menu item on the main page...

http://www.canadastudentdebt.ca/provincial.html

Mark

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 09/March/2005 at 5:01pm
"Depends which province you are from. People who declared bankruptcy are now supposed to still be eligible for Interest Relief..."

I declared bankruptcy in November of 2001, knowing full well that my loans would not be discharged (other debt was from a thieving, immoral ex hubby...don't get me started)....I was told specifically that I would still be eligible for interest relief and, in fact, was encouraged to declare (by the lovely people at the student loan centre) as it would 'free up' some of my resources for focus on my student debt.

Bullsh*t. All of it.

I wasn't until AFTER I declared bankruptcy and called to inform them of my change in status that I was told I was no longer eligible for interest relief.  As I'm sure most of you already know, DO NOT BELIEVE A WORD THEY TELL YOU. Do your research, ask questions, and then ask the same questions again (this will be difficult!! I actually did call several times before I filed the papers with my trustee and spoke with several different people who all told me the same thing....and, surprise surprise, they were all wrong). 

This is my situation as of now....

I graduated in 1997 with an undergrad degree in sociology (or "applied bartending", as I like to call it).  I did start making repayments as I had a decent job and was able to. It was a crappy job, though (call centre!!)--add to that a crappy marriage, and.....long story short, I got a divorce and moved to the city where I'm originally from to 'start over'.

Because I wanted to get a leg up on the million or so other people with the same degree, I decided to take a post-grad course at the local college in 2001...I had to withdraw from that, however, because I couldn't come up with the tuition.  I was enrolled for all of two hours, literally.  What they don't tell you, however, is that the 10 year bankruptcy rule, as it stands now, means that ANY enrollment turns back the clock on your loans.....ie, I graduated in 1997, so my '10 years' would have been in 2007....because of my two hour enrollment (I'm not kidding....I got to school and realized there was no way I could pay tuition without help), the 'bankruptcy clock' has been turned forward....so now, my 10 years is up in 2011!!!!

After struggling with the evil-ex's debt load, I decided that it would be to my benefit to declare bankruptcy...I was underemployed (waiting tables) and was having a terrible time keeping my head above water (no kids, thank God--I think I was making something like $600 per month, including tips).  My loan repayment stopped when I filed the paperwork for the bankruptcy (it effectively sends you into non-repayment/interest relief status for about 9 months) and I was able to catch up on everything.

Now, it seems my student loans are being held by CBCL, a company I have never heard about (they were held by a different company before, I think....it might have even been the originating bank, but I honestly don't remember). They're using very official sounding language (i.e. debt owing to the crown, acting on behalf of the Government of Canada, blah blah blah) and asking me for my financial information and proposed repayment.  Unfortunately, I am currently unemployed and collecting EI (actually, I do have a part time job waiting tables, but it's only once a week and it's for very little money....I work at one of the concert venues in town and it's more for the perks than the money).  I have been looking for something permanent, but unless I want to work in a call centre (NO NO NO NO NO NO), it's waiting tables or Timmy's, and I'm overqualified for Timmy's (I actually applied, that's what they told me!).  Eventhough I don't have a full time job, I am of the firm belief that one should not have to sell one's soul to the corporate machine in order to be employed...too many people do that, and I see how unhappy they are!!!  Why should we being forced to hold jobs that are low paying, spiritually devastating, and have no future?  Part of me thinks I should suck it up and find something, anything.....but would I not, effectively, be giving up my freedom? Is that what they want from us? I digress...

So...I have this letter, and no clue what I should do.  If I fill out the financial info, are they going to actually look at it and understand that I'm not in the position for repayment?  Or are they going to look at it, disregard it, then take me to court?  Can they garnish my EI? Who is this company, anyway?

Anyway, thanks for any advice/comments, etc.

the Morrigan


PS...As it stands now, my degree hangs on my wall. It's very pretty. Should be, it cost me $60 000.  Since I've never actually gotten any use out of it, I'd be more than happy to return it to the original institution!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 09/March/2005 at 10:12pm

 

 Mad,

 From what you have described, there is absolutely no avenue of execution against you what so ever. As for the financial questionaire, and you are experiencing financial harship, I will help you if you would like. it would take me 6 minutes or so. This way, you don't have to worry.

 They will garnish your E/I. The CSLP is not built that way regardless orf what a collector tells you.

 The business psychology of collections is not very complex to understand. Collectors are trained to use creativity in words, language, and approach in ordeer to capture control of the entire situation, and instill enough fear into your mind that will motivate you to act. These things you are being told ie: litigation, garnishment, court, etc., they are all "fear installation tactics" used by collectors so they can complete their mission - that is colelct money. The more people they motivate to pay, the more commission they and the agency earns.

 Your debt is described as debt owing to the Crown. By sending in your financial statement and substantiating your hardship, then you are acting in good faith. There is nothing that the colelction agency can do other than to place your account on a hold desk until it is time to review it again after 6 months. If you situation is still dire, then the process is repeated.

 I can help you greatly, and can also destress you about this if you would like.

 

John LeBlanc
The Canadian Financial Wellness Group
 
Tel: (902) 464-8727
 

 

 

 

 

 

 

 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Johnny Quote  Post ReplyReply Direct Link To This Post Posted: 09/March/2005 at 10:15pm

 

 Missing word ....  They will NOT garnish your E/I.

 It is an amazing 3-letter word in your case! +

 

John LeBlanc
The Canadian Financial Wellness Group
 
Tel: (902) 464-8727
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 10/March/2005 at 3:17pm
lmao...I nearly freaked.  Thanks for clarifying!

About six minutes, you say?  Can we do it through email?  I only have a cell and it doesn't have a LD plan (I'm in the 519 area code).  I'd definitely appreciate the help!

 the Morrigan
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 10/March/2005 at 3:24pm
Oh, and what you said regarding the psychological scare tactics that collection agencies use is sooooooo true.  Have you ever noticed that they always make you call them by their last names? Mr/Mrs. So and So....that's totally a psych out--for most of us, the use of last names is an automatic gift of respect and understanding of authority.  I like to turn this little game around on them...I use their first names without their permission (Hi, this is Mrs. Edna Smith from blah blah blah, you owe us money.....Edna!! Great to hear from you)....but more effective, I've found, is insisting that they call you by your last name--it screws with their heads....tee hee.  : )
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Mrs. D Quote  Post ReplyReply Direct Link To This Post Posted: 06/April/2005 at 1:13pm

Ok i'm lost!!! I filed Bankruptcy in 1998 i know i'm discharged this year.

but i know that by student loan will stay

does that mean that i have 3yrs to go before it's gone ( mind you this is news to me :)

i have been paying these people forever it seems like there's no end

but if anyone  tells me that it true i would party all weekend long ( mind you i would continue my payments until then

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Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post Posted: 06/April/2005 at 1:40pm

Gone? We-eeell...three years before you can apply to have them discharged...

And the courts will look at your financial history, your income, your potential to pay it all, etc...and may discharge them, discharge them conditional on a settlement or make you continue paying.

Personally, I think we deserve to enjoy our lives regardless, bollocks to what the collectors think. So party on, Mrs. D!!

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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post Posted: 06/April/2005 at 3:24pm
WHAT THE HELL!!!
THERE ARE PEOPLE WHO HAVE STUDENT LOANS AND ARE ENJOYING LIFE!!!!

Just kidding, I am on your side. Tee - hee - hee
I am just thinking of what the collectors would say to that.
They would have everyone eating KD if it were up to them.

What you are eating, and you have student loans!!!

I remember the one woman telling me that I should not have a dog because this is money that I could be sending them.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post Posted: 06/April/2005 at 3:42pm
I should have told her to drop by and visit our pooch.
She loves company.(and she loves to pounce on people).

Picture this:
one 70 pound shepherd husky full of P*ss and vinegar coming at you, salvating at the mouth and her tail wagging 100 miles per hour.

PRICELESS!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote dujylyn Quote  Post ReplyReply Direct Link To This Post Posted: 07/April/2005 at 8:24pm
hi everyone, i am happy to see the discussion continues...been offline for awhile, the ancient computer finally crashed and burned. since i last wrote (way at the top of this page) i have heard from all the collectors who have my loans. Apart from the royal bank, all of them were in collections before i could even contact them to find out exactly what i owed them. while their may have been an interest relief option (i am in BC and the rules have changed)it is definitely too late if you are in collection status and that, i have learned,happens pretty fast and with no consultation after bankruptcy discharge. My BC direct loan went into collections while i was still in bankruptcy.no one seems to have a viable explanation of why that happened.their comment is "oh well, just pay".

so, enough blather, here's my quandary.i am still working in a temporary position, making not bad money. it is ending in may or june. altho i am looking for work, i am not finding that jobs are plentiful here and i may end up on ei soon. the collection agents are asking me to fill out forms that say where i work, address, phone # of employer, etc. do they think i'm nuts? i guess they can find out if they try hard enough but i don't want to voluntarily give them an opportunity to call and harass me at work. also, if i make a payment agreement on this income, i will probably not be able to keep it up in the near future. also, i am salting away every spare dime i have now because frankly, i have had enough of this starving stuff.
so, what to do? stall until i am unemployed? stop answering the phone? continue to be "non-compliant" about divulging my employer? what if i refuse to talk with them and send them each, say, $20/month? i don't know....is there freedom after education?
if you cannot be a good example, you will just have to be a horrible warning
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kwelmm Quote  Post ReplyReply Direct Link To This Post Posted: 07/April/2005 at 8:31pm

The freedom comes when you deal with the loan issues...and not run from them.  I chose to ignore them for a while and it produced nothing but negativity. 

I don't want to sound all hum-drum....just telling it like it is.  If you are unemployed for a period of time...just be honest about it.  If you are not honest...and are considered to be frustrating the system...then you will have accomplished no good.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote dujylyn Quote  Post ReplyReply Direct Link To This Post Posted: 08/April/2005 at 1:16am
me frustrating the system? what about collectors calling me at work? one of the reasons that i filed for bankruptcy in the first place is that collectors tricked my sweet little daughter into telling them my work number. they called there daily and harassed both my employer and me. do you think for some reason these agents are above doing the same at my present employment if the least little thing goes wrong in my 'dealing with it'? i have no problem being honest and open about being unemployed..no job to lose. yes, i will be laid off but am hoping for a good reference and possibly re-hiring at a later date.not all employers are willing to put up with this crap. and yes, i am tempted to run and hide but realize that is unrealistic.what i really need are practical ideas of how to protect myself while dealing with it.
if you cannot be a good example, you will just have to be a horrible warning
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