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 upcoming 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 can't plan. I've heard of courses being cut because the government has no process in place for universities to send the newly required acceptance letters to the government.

This means that students who have been accepted can not attend courses that start in the summer 2024 semester. With cut sections, current Canadian students will have trouble getting courses, and may have to switch to part-time which changes their enrollment status and might trigger repayment of their loans or ineligibility for funding. I've seen this before. It wreaks havoc on the student loan borrowers.

Again, the Liberal government has messed up the education environment. Will the new system needed in a rush for the acceptance letters be the new Arrivecan scandal?

I call on the government to implement a slower phased in approach and delay the requirement of the acceptance letters until a process is in place to submit these letters.


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2Laural View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 2Laural Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post 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...

Home is where you are allowed to prosper.
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MegaPo View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MegaPo Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 2Laural Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ferren Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post 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...
Home is where you are allowed to prosper.
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hunter View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post 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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guest Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post 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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Endsdontmeet Quote  Post ReplyReply Direct Link To This Post 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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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post 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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Endsdontmeet Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Endsdontmeet Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post 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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Endadontmeet Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post 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 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote keptgirl Quote  Post ReplyReply Direct Link To This Post 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??
happykeptgirl
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help_is_here View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote help_is_here Quote  Post ReplyReply Direct Link To This Post 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
cfwgroup@tekcity.net
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keptgirl View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote keptgirl Quote  Post ReplyReply Direct Link To This Post 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
happykeptgirl
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