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2Laural
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Joined: 29/August/2003
Location: Canada
Points: 42
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Topic: Reliable Bankruptcy Info - My Job! Posted: 29/August/2003 at 10:18pm |
I just came across this site tonight and was looking at some of the posts.
I was very surprised to see a lot of mis-information about bankruptcy, proposals, credit reporting, etc.
I wanted to let people know that I would like to provide correct information to those who ask.
L
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polyhymnia61
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Joined: 10/January/2003
Location: Netherlands
Points: 915
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Posted: 02/September/2003 at 4:44am |
Funny, considering much of the misinformation has been provided by the "horses' mouths" so to speak -- in other words, the people who provide student loan, bankruptcy, proposal and credit reporting services.
if they don't know...how do you?
Sorry, but circumstances have made us all a rather cynical lot here...do you mind if I ask you your credentials?
Not being b*tchy, just careful...
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Home is where you are allowed to prosper.
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MegaPo
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Joined: 24/June/2002
Location: Canada
Points: 136
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Posted: 02/September/2003 at 7:31am |
My, what an unfortunate way to introduce yourself to a new website: by insulting all of the regular users.
You will notice that some portions of the website were designed to provide information. For example, Mark has created links on the homepage to explain the bank complaint process, including detailed information about who to contact and when. Those sections are were well-researched, and are very reliable.
On the other hand, the discussion sections are for discussion. Occasionally, someone shows up misinformed or confused (usually from what they hear from people at banks or HRDC!) and they post questions or comments, sometimes with misinformation. We do are best here to correct faulty information, and to give good advice.
Please feel free to join in. If you see misinformation in a message, then post a followup. But I suggest that you keep two things in mind:
(1) Think about the source of misinformation. People who post to CanadaStudentDebt.ca do not get their information from the streets or from writing on bathroom walls; we get our information from employees of banks, HRDC, and collection agencies.
(2) No single employee of a bank, HRDC, collection agency, or credit bureau knows EVERYTHING about EVERY student loan practice. These "insiders" occasionally think they know it all, by virtue of their job, and they can cause a lot of frustration for a student by not being open-minded.
So if you're offering to share your knowledge about credit and bankruptcy, then please, join it. Just be humble, and recognize that you are one of many sources of (often conflicting) information.
--Sean
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2Laural
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Posted: 02/September/2003 at 4:34pm |
I am an insolvency administrator with over 9 years experience throughout different provinces in Canada. I am also writing my Trustee license this November. So, I am not an idiot.
I simply offered my knowledge to those people who had questions about bankruptcy, and other related topics.
I re-read my post and did not find anywhere in it that I was insulting anyone. If that is how you took it, I am sorry.
In fact, I found the previous two posts an attack on myself, and will be deleting my profile.
Best of luck.
L
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Ferren
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Joined: 17/February/2003
Location: Canada
Points: 248
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Posted: 02/September/2003 at 5:48pm |
Dear 2laural,
please don't quit on this board so easily. I for one value the kind of knowledge and experience you could bring here as a professional.
I don't really understand what prompted those two to post the kind of response they did, but don't take it to heart. They are only two and I'm sure many many more view these pages who never post, but rather are looking for a ray of hope.
I have never been able to get answers to some of my questions here and while my issues don't relate to bankrupcy or proposal issues, I am still interested in reading your responses to questions on that topic.
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polyhymnia61
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Joined: 10/January/2003
Location: Netherlands
Points: 915
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Posted: 03/September/2003 at 4:11am |
I think I was being as polite as posssible under the circumstances...Obviously she hasn't been through the hell we have...or doesn't care. I think I attempted to explain where I was coming from -- and she got defensive. I think Mego-Po and I had valid points. I'm sorry I don't bow down grovelling at the feet of "authority" but after 42 years on this planet, you tend not to know who that even is anymore.
Let's face it, people have posted on this site who have talked to trustees with faulty knowledge -- and she's just writing her licence?? I think after 3 three years of bureaucratic hell I have a right to question her credentials.
I don't think she was really here to help, otherwise she would have at least tried to understand where we were coming from.
I also have access to an insolvency administrator from BDO. I prefer to talk to her thanks...she at least she doesn't get condescending when I question her...
Don't mean to rag out on you Ferren. Sorry.
I just question her motives since she disappeared so fast...Hope she doesn't treat her clients that way...
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hunter
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Joined: 04/September/2003
Location: Canada
Points: 640
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Posted: 04/September/2003 at 11:18am |
Hopefully 2Laural has not left the forum.
I hope she can answer this:
I filed for bankruptcy in March 2002 and was discharged of all debts except the student loan, and I read on this forum that after the ten year rule you can apply to the courts and include the loans in the original bankruptcy if you can proove that you have undue hardship.
Has anyone ever heard of this before. And if so what is the procedure and the success rate.
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Guest
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Posted: 05/September/2003 at 4:08am |
I do not believe that anyone can answer your question, Hunter, because ten years has not yet elapsed since the federal changes to the bankruptcy and insolvency act. Nobody has been out of school for 10 years yet!
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hunter
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Joined: 04/September/2003
Location: Canada
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Posted: 05/September/2003 at 5:18am |
Thanks for the info.
I have another 5 years to wait, and it is like I am in prison, waiting and waiting until 2008.
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Endsdontmeet
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Posted: 22/September/2003 at 7:35am |
Hunter...how do you know your student loan wasn't included? I declared bankruptcy 5 years ago and because I didn't hear from anyone I assumed the student loan was accepted as part of it. Now I have a collection agency after me, trying to charge me interest for those five years. I haven't moved, changed names or phone numbers. Any ideas?
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hunter
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Posted: 22/September/2003 at 10:01am |
I know my student loan was not included in the bankruptcy because I left school in 1998 and the loans are not dischargeable until 2008. REMEMBER THE 10 YEAR RULE.....
I filed for bankruptcy in 2002....
Besides the trustee told me prior to me filing the papers that it would not be included..
You would have gotten papers detailing you what was included and what was not...A GOOD TRUSTEE WILL DO THIS.
If your student loans were not included in the bankruptcy, then yes you will still have to deal with them and yes you are still being charged interest and penalties on them, until the 10 year rule applies then go back to the Court and ask that the student loans be included in your original bankruptcy.
Hope this helps!!!!!
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Endsdontmeet
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Posted: 23/September/2003 at 9:15am |
So I left school in 96. Went bankrupt in 98 and I just sent $50 to the collection agancy so I'm pretty much doomed?
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hunter
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Joined: 04/September/2003
Location: Canada
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Posted: 24/September/2003 at 8:00am |
Well don't feel so bad, you are not the only one out there that feels like that.
I was told that when my s/l can be dischargable that I can apply to the courts and include them in the original bankruptcy, but was told this is not the case at all.
So I am going to wait until 2008 and file for bankruptcy again, and get the vultures off my back for he rest of my life.
Until then I am protected from guarnishee until then through the OPD Program.
Where there is a will, there is a way!!
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Endsdontmeet
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Posted: 24/September/2003 at 9:29am |
What's the ODP program and does it apply to provincial student loans?
I wouldn't look at a second bankruptcy as an option. Try to avoid them and then settle for less. I don't know what your personal situation is like but I find not having credit quite cumbersome lately. The first five years were ok but it's getting to me now.
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hunter
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Posted: 24/September/2003 at 10:33am |
OPD is an agreement signed with the Justice Department's Provincial Mediation Board where you offer them the minimum of $ 50.00 per month for as long as you have the debt.
This stops any and all wage guarnishees and the harassment from the collectors.
Bad thing is that you can not acquire debt during this time,any property that you sell like a house all monies go to the courts for the vultures (collections people)and your income tax refunds go to the collecors too.
In my case, with a bad credit rating I can't get credit anyhow, and the tax people were keeping my refunds so it does not really affect me.
I really don't want to file bankruptcy again in 2008, but I will have to wait and see what happens.
Yes not having credit is frustrating, but having credit in the first place got me into this trouble, and some bad relationships added to my debt load, but I am doing the best that I can with what I have.
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Endadontmeet
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Posted: 25/September/2003 at 4:50am |
Right. I've got a house to sell and I'm not paying my student loans because I don't feel like it! hahaha
I owe the feds taxes from child support so they keep all my GST too. I don't get refunds. I get bills.
So since we don't have this OPD here...does the collection agency have any say in what I pay? Can I offer $50 a month and they'll go away?
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hunter
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Joined: 04/September/2003
Location: Canada
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Posted: 25/September/2003 at 5:56am |
I would offer them what you can. I owe them $38,000 and when I offered them $ 50, they laughed at me, and said they would not take anything less than $ 500.00 per month. They ended up getting $ 0.00
I would not give them your banking info or cheques...Why give them more inormation to stab you in the back with.
Pay them in cash or money order..
Best of luck to you
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keptgirl
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Joined: 06/October/2003
Location: Canada
Points: 3
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Posted: 06/October/2003 at 6:32pm |
Hi, I hope someone can help me.
I am down $20grand studyloans/$20grand consumer debt and
I am 6 years post studies.
I live with a boyfriend and we have a homebased business in his house, which has not turned a profit yet--I do not draw a wage, he just pays my minimums and feeds me.
he cannot afford to do this anymore and i am looking at bankruptcy as an option.
i know my student debt wont be discharged, but what will happen if i just stop paying it after the bankruptcy?
my credit couldn't really get worse, could it? and they can't force me to get a better paying job?
and are his finances/house in jeopardy, being hooked up with me for the last two years??
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happykeptgirl
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help_is_here
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Joined: 24/September/2003
Location: Canada
Points: 157
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Posted: 07/October/2003 at 2:56am |
Bankruptcy should be the last thing that you think about. If you have no income, assets, etc.. there is nothing any of your creditors can do to you.. no matter what they tell you.
It is easier to fix debt problems on your own initiative without the stigma of bankruptcy attached to your name. You may find that in one year, there was no need to go bankrupt!
The student loan bodies cannot attach any of your boyfriend's assets or income unless, of course, he is jointly liable per the contractual agreement. If he co-sighed, then yes. If not, then you are clear.
Consult with me privately. I may be able to help you avoid the tragedy of bankruptcy, and help maintain control.
Johnny
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keptgirl
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Joined: 06/October/2003
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Posted: 07/October/2003 at 7:00am |
hi johnny, thanks for your quick reply, your private box is full so i'll try this way again.
so you dont think i should go BR? wont this alleviate50% of my debt? my other option is to stop paying everything from next month on...but won't mass interest accrue with which they will nail me in the future when we do make a profit?
tho paul is not a co-signer, wont our assests become co-mingled, after we co-habit for a while? i really don't want to mess with his stuff.
this morn i figured i'm actually 7 years post study, yay an extra year!!
how do you know this stuff? i am very grateful for the knowlegable advice, thanks
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happykeptgirl
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