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 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 have been forced to cancel programs and layoff hundreds if not thousands of full-time and contract instructors.

Again, the Liberal government has messed up the education environment.


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    Posted: 20/July/2010 at 9:05am

Many people have older CIBC student loans that are assigned out to various collection agencies. A lot of these loans are statute barred and it is important that you know that. These collection agencies have been given a sweet deal by CIBC for recovery and it is half of whatever they collect. That's right. Agencies in charge of these loans are Accounts Recovery Corporation, Global Credit, Collectcom Credit, NorDon, and CBV collection Services. ARC and CBV have a very large share of these accounts. Collectors handling these files tend to be very slippery and aggressive in ways.

In certain provinces they aren't even allowed to contact you for payment. The important thing is to know your rights and benefits.
 
Johnny
 
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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