Canada Student Debt http://www.canadastudentdebt.ca/ This is an XML content feed of; Canada Student Debt : Last 10 Posts Thu, 17 May 2012 14:08:28 +0000 Tue, 15 May 2012 17:08:39 +0000 http://blogs.law.harvard.edu/tech/rss Web Wiz Forums 10.03 30 www.canadastudentdebt.ca/RSS_topic_feed.asp Canada Student Debt http://www.canadastudentdebt.ca/forum_images/web_wiz_forums.png http://www.canadastudentdebt.ca/ Urgent Help needed - Post here! : Student Loan-Resolved!!! http://www.canadastudentdebt.ca/forum_posts.asp?TID=6437&PID=34313&title=student-loanresolved#34313 Author: paulalynn
Subject: Student Loan-Resolved!!!
Posted: 15/May/2012 at 5:08pm

Yup...Finally!  After years of fielding calls from collection agencies, opening registered mail threatening wage garnishments, etc. I finally contacted Johnny!  I had a bankrupcy in my past and hadn't made payment on the student loan in years.  I had a feeling it was stats barred but, like I said the threatening mail & annoying calls continued.
 
I called Johnny and the calls stopped.  I was very impressed to hear this guy "in action".  I was part of a conference call with him a couple of times and he knows his stuff!!!  I heard from him today...and it's officially over! 
 
I know most people tend to come to sites like this when they're in the middle of problems and not usually to report the positives but I felt I had to let people know there is a light at the end of the tunnel; just don't wait as long as I did.  Contact John LeBlanc at CFW Group! You'll be glad you did!
 
]]> Tue, 15 May 2012 17:08:39 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6437&PID=34313&title=student-loanresolved#34313 Bankruptcy and Proposal Info and Issues : Who do I ask, and where do I ask http://www.canadastudentdebt.ca/forum_posts.asp?TID=6435&PID=34311&title=who-do-i-ask-and-where-do-i-ask#34311 Author: Johnny
Subject: Who do I ask, and where do I ask
Posted: 14/May/2012 at 9:27am

If you want to open up your accounts you contact CRA Legal Services and Department of Justice. If anyone at the federal government level says they cannot find any file it would mean that you never had a Canada student loan. As for your Ontario student loan, unless it is VERY old then there are no limitations that bind them from recovering it. Asking them will likely generate a response like" No, there are no limitations". same with any government collection center because they are trying to get people to pay them and not arm them with information that would otherwise restrict them even further from recovering it.

What you are asking for help with is something you should seek professional assistance with.
 
 
]]> Mon, 14 May 2012 09:27:17 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6435&PID=34311&title=who-do-i-ask-and-where-do-i-ask#34311 Urgent Help needed - Post here! : Help-Advice needed http://www.canadastudentdebt.ca/forum_posts.asp?TID=6436&PID=34310&title=helpadvice-needed#34310 Author: Johnny
Subject: Help-Advice needed
Posted: 14/May/2012 at 9:20am

Originally posted by MA07385 MA07385 wrote:

Today I get a new letter from new collection agency saying I owe 15,000$ for scotia student loan.  If it's not on my credit report, should I care?
  
 
Yes, you should care but it depends on your intentions I guess. Suddenly ignoring it because of a dissatisfaction or debate over the interest issue was not the right way to handle it.
 
If it is statute barred then there are ways to address that, especially while in dispute. However, if there is no dispute, and you owe the money, and you are able to pay, and you do not want to pay, then this is what the financial and government communities call frustrating the system. Unless you are not receiving any benefit at all from the education you acquired.
 
If Scotiabank told you that the debt belongs to the agency that is untrue. It is merely assigned to them to collect it. 
 
What is it that you want to do with the loan at this point?   
]]> Mon, 14 May 2012 09:20:25 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6436&PID=34310&title=helpadvice-needed#34310 Urgent Help needed - Post here! : Help-Advice needed http://www.canadastudentdebt.ca/forum_posts.asp?TID=6436&PID=34309&title=helpadvice-needed#34309 Author: MA07385
Subject: Help-Advice needed
Posted: 11/May/2012 at 2:07pm

Hi:

 

I hope someone can answer this.  First of all, my student loans have NEVER shown up on my credit report.  I have been out of school since 2001 and paid my two provincial loans in full but never paid my federal loan through Scotia Bank.  It was 10.000$.

After not paying the Scotia bank for a few years, they sent it to a collection agency.  At first I started paying it and at one point was paying 400$ a month and it was down to 5500$.  Then I got a letter saying I owed 11,000 now. I said what about my payments, they said interest bla bla bla.  So I stopped paying.  Over the years I wouldn't hear anything from them, then it would pop up on some new collection agency report and they would call me, I wouldn't return calls.  Over the years, maybe 5 or 6 diff collection agencies and this was NEVER on my credit report.  I have a mortgage and decent credit.  Oh by the way, after I had paid the collection agency down to 5500 and then they came back with the 11,000$ thing, I contacted Scotia bank and said I will pay you, but never again a collection agency.  They responded saying I no longer can pay them because I don't owe them any money, I owe the credit agency. So anyways I stopped paying alltogether, it passed through several agencies, never on my credit report and it's been ten years now.  Today I get a new letter from new collection agency saying I owe 15,000$ for scotia student loan.  If it's not on my credit report, should I care?  If it had been on my report, it would have expired years ago.  This is why I'm assuming they don't put it on there.  Question is, if it's not on my report, what do I care? Should I keep silent or tell them to put it on my report and let it expire?  Say what you want, but I'm not paying it back.  And certainly not 15k on what was 5k.  I am in New-Brunswick.

]]> Fri, 11 May 2012 14:07:35 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6436&PID=34309&title=helpadvice-needed#34309 Bankruptcy and Proposal Info and Issues : Who do I ask, and where do I ask http://www.canadastudentdebt.ca/forum_posts.asp?TID=6435&PID=34306&title=who-do-i-ask-and-where-do-i-ask#34306 Author: mcjupto
Subject: Who do I ask, and where do I ask
Posted: 09/May/2012 at 9:18am

Hi.  I read that the federal governments are "writing off" $300 000 million, in several thousand student loan accounts this year.

How can I find out more information about my accounts?  Which departments do I contact?  What questions do I ask? Such as "Is my account still in active collections?" or Do I just call and give them my information and if they cant find me in their files anymore does that mean the loans have been "written off"?  My loans are with NSLC and Ontario student loans. I need some help here please.


]]> Wed, 09 May 2012 09:18:23 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6435&PID=34306&title=who-do-i-ask-and-where-do-i-ask#34306 Urgent Help needed - Post here! : Assistance Required - Paying off Debt http://www.canadastudentdebt.ca/forum_posts.asp?TID=6431&PID=34305&title=assistance-required-paying-off-debt#34305 Author: bc85
Subject: Assistance Required - Paying off Debt
Posted: 08/May/2012 at 6:59pm

Thanks for the replies. 

I haven't set anything in stone with TCR but I said I'd make a monthly payment at the minimum. I personally set aside 275 each month which will take care of it by January. 

I thought that taking care of the credit card would be a good step to eliminate the debt, and take care of one creditor . When I do get that extra paycheck, I'll call them up and ask if they can knock off a couple interest charges if I make the full payment. Hopefully that will work. 
]]> Tue, 08 May 2012 18:59:47 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6431&PID=34305&title=assistance-required-paying-off-debt#34305 Collection of Old - Stats Barred - Loans : 13 Year Old Student Loan http://www.canadastudentdebt.ca/forum_posts.asp?TID=6434&PID=34304&title=13-year-old-student-loan#34304 Author: administrator
Subject: 13 Year Old Student Loan
Posted: 08/May/2012 at 3:50pm

Could you provide a few more details so we can help. Are you in default? Which province was it from?  Have you been making any payments?

This info will help answer some questions....
]]> Tue, 08 May 2012 15:50:22 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6434&PID=34304&title=13-year-old-student-loan#34304 Collection of Old - Stats Barred - Loans : 13 Year Old Student Loan http://www.canadastudentdebt.ca/forum_posts.asp?TID=6434&PID=34303&title=13-year-old-student-loan#34303 Author: Johnny
Subject: 13 Year Old Student Loan
Posted: 07/May/2012 at 3:52pm

Who do you owe?

]]> Mon, 07 May 2012 15:52:39 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6434&PID=34303&title=13-year-old-student-loan#34303 Collection of Old - Stats Barred - Loans : 13 Year Old Student Loan http://www.canadastudentdebt.ca/forum_posts.asp?TID=6434&PID=34302&title=13-year-old-student-loan#34302 Author: CJJL
Subject: 13 Year Old Student Loan
Posted: 07/May/2012 at 2:50pm

I'm not sure I am even posting in the right spot, but I have a student loan that is probably about 13 years old, and I am wondering if there is any way that I can "get rid" of it.
 
I am on a very limited income ($1500/month) with 3 children at home.
 
Any information anyone has would be greatly appreciated!
 
]]> Mon, 07 May 2012 14:50:57 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6434&PID=34302&title=13-year-old-student-loan#34302 Bankruptcy and Proposal Info and Issues : It is over, I think... http://www.canadastudentdebt.ca/forum_posts.asp?TID=6433&PID=34301&title=it-is-over-i-think#34301 Author: blackcat
Subject: It is over, I think...
Posted: 05/May/2012 at 8:03pm

Hello, I posted here awhile ago about my student loan issues. I could possibly have gone the stats barred route or the bankruptcy route, my loans totalled almost $70,000, one of the collection agencies was threatening court against me and after a budget analysis realized there was no way out for me.
I chose bankruptcy because of the lack of transparency when it comes to stats barred and finding out for sure if I fall under that or not. I still some what wonder how that would have turned out, maybe I should have shelled out the few hundred or whatever to find out. I think things like that should be laid out for all to understand and have access to.
Anyhow, so far the bankruptcy has worked. My end of study period I verified prior to bankruptcy so I know it was 7+ years. I went back to school in 2005 and am still a part time student who has been paying course by course myself so no restart on the OSAP clock. I know that is a common question here so I'm posting after my discharge, and after my income tax return has finally been desposited in my bank account for the first time in forever.
Now I hope that the horror stories of years later being contacted by collections again or a tax return not showing up do not happen to me.
Bankruptcy is not fun, I do sorta wish I had contacted the CFW Group instead. When I first went to the trustees office they made it sound great, I was in hard times and needed a fresh start, there was nothing to feel bad about. Okay, then, after you sign they treat you like garbage. My tax return was prepared by them last year and wrong, so I called and they didn't believe me at first and were real snotty. Then they see the mistake and re-do it, send me a new copy, and guess what? ANOTHER simple mistake. I do my own taxes every year so good thing I can catch these things. THey were snotty again and finally did it right. When I had any question at all they repeated something about how my excess income and payments are calculated and they'll charge me an extra fee to do it different months 9+ even though I never mentioned that. They were so bloody defensive everytime I asked a question. Excuse me but I like knowing and understanding.
GAH. Horrible experience, so glad it is over. My credit is being repaired already, Capital One gave me a $1000 limit no deposit credit card a week after I was discharged.  I was expecting to pay towards a secure card but hey, whatever, this is better. I have RRSPs from before (only payments made 1  yr prior to bankruptcy are held against you) so my bank says transfer them to there then I have net worth already (which they can verify? Or they just want all my accounts) and can get an RRSP loan end of this year already. Thankfully this rebuilding credit part is easy going after putting up with the bankruptcy people (they did more than what I ranted about already, including lying about how much I was to pay overall by about $1400, grrr).

Okay, so summary is, yes end of study really means for when you got OSAP and not when you go back paying out of pocket. bankruptcy sucks, they will treat you like sh*t after getting you sucked in. :(  Call the Johnny guy who talks on these boards instead first.



]]> Sat, 05 May 2012 20:03:52 +0000 http://www.canadastudentdebt.ca/forum_posts.asp?TID=6433&PID=34301&title=it-is-over-i-think#34301