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.


  New Posts New Posts RSS Feed - hardship
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum Lockedhardship

 Post Reply Post Reply Page  <123
Author
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996
Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 08/February/2010 at 10:09am
"A nonprofit organization (abbreviated NPO, also not-for-profit) is an organization that does not distribute its surplus funds to owners or shareholders, but instead uses them to help pursue its goals.  In Canada, NPOs may be formed at either the federal or provincial levels. Charities must generally be registered with the Canada Revenue Agency and may issue tax receipts for donations.  The funds received from credit grantors are charitable donations.  This is the difference between for profit debt poolers and collection agencies.  All of the funds generated from debt repayment programs are invested in assisting clients not generating profit."
 
This is the textbook definition. However, debt poolers are collection agencies. They are licensed as them, and they are treated by the financially community like them. They recover money for creditors and they depend on them for commission. Their incentive is very transparent. A fair share is what they call it. a donation. It is just another business that sugar coats a brick of salt. They make themselves appear sweet.
 
High salaries. Heavy advertising campaigns. That is how they work their magic.
 
Stuff, you will disagree with whatever I say about bankruptcy and non-profits. You defend them all you want. Your business is bankruptcy. Mine is not. You have your opinions about other services and their effectiveness in comparison to bankruptcy and it's effectiveness. It is of no consequence. You preach bankruptcy and I will continue to help people make much better choices in life.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
Back to Top
Sponsored Links


Back to Top
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996
Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 08/February/2010 at 10:14am

FYI - The non-profits get a percentage of the amount recovered (or owed) by the consumer. Collection agencies are paid a percentage of the amount recovered. Non-profits disguise themselves as anything but a collection agency. Who would seek them out for assistance then? So, they had to come up with a way to gain the trust of financially troubled consumers. It is an American methodology, and that is what is happening here in Canada.

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
Back to Top
Iknowalotofstuff View Drop Down
Groupie
Groupie


Joined: 29/September/2008
Location: Chatham, ON
Points: 155
Post Options Post Options   Thanks (0) Thanks(0)   Quote Iknowalotofstuff Quote  Post ReplyReply Direct Link To This Post Posted: 08/February/2010 at 12:14pm
Finally we can agree on something.  American methodology is creeping into the Canadian arena and it scares me.  Where ever there is buck to be made, the Americans are there to take advantage.  Living in close proximity to Michigan, I am inundated daily with TV / radio ads by for profit debt relief agencies.  Many of the US agencies are owned by credit grantors.

But this invasion by US debt poolers should be stemmed by regulation just as the invasion of pay day loan companies has been regulated.

The Bankruptcy and Insolvency Act has provided that each province or territory could establish a provincial Orderly Payment of Debt Program.  Only three provinces chose to enact a government OPD program - Alberta, Saskatchewan and Nova Scotia.  The other provinces chose to come up with their own form of programs.  Ontario in the late 60's and early 70's decided to treat debt problems as a social problem.  The plan was to allow local social service agencies who met certain criteria to start CCS programs that would be funded 70% by the province of Ontario with the remainder generated locally.  In Ontario, this 30% came from United Ways, Catholic and Jewish religious organizations, trade unions, etc.. went this way for about 23 years.  For profit agencies are governed by a CEO, a board of directors and shareholders. Non profit agencies are governed by unpaid boards of directors. 

Ten, Ontario elected an NDP government who was looking to cut social service costs.  There was a change of thinking.  First, the new BIA amendment of Nov 1992 should allow CCS to administer consumer proposals.  They would get the initial $1800.00 plus 20% of the funds disbursed leaving no need for provincial funding.  Second, for the past 23 years, the credit community had been getting a free service.  Since the programs worked and were by now professional, the time had come for them to contribute.  

Government funding stopped almost immediately.  The province had not counted on the strong backlash by the trustee community to non trustees administering proposals,  The Province had not contracted the Fed to see what their position was.  Finding themselves without funding, the non profit credit counselling agencies negotiated an arrangement with the Canadian Banker's Assoc. to make charitable donations equal to 10% of the funds disbursed under the debt repayment plans. At the same time, the Collection Agencies Act was amended to remove any requirement for any member agency of the Ontario Association of Credit Counselling Services to register as a collection agency.  Based on this premise and the consolidation of several agencies, non profit CCS has survived in Ontario.  I speak only about Ontario. These non profit agencies are run by a local board of directors and reflect the communities needs.  

Some people think of CCS as "ducks".  If it walks like a duck and talks like a duck, it must be a duck. CCS in Ontario are not ducks,  While they may appear to act like collection agencies or for profit debt poolers.  They are not the same.  I choose to give them the benefit of the doubt rather than lump them in with everyone else because I know what they do and how they are motivated.

To all of those people looking for help, it is not the worst thing you could do to contact a non profit CCS in your community to discuss your situation.  Usually the first visit is free,  Even if all you get out of the meeting is free information, you are no worse off than  before you went in.  Also do your due diligence and ask all of the questions necessary to make a informed decision.  Seek a second opinion  ... Call someone like Johnny and get his take on your situation.  Once you have gathered all of the information to make an informed decision, do what is right for YOU.

Education not dogma is he key.  Become an informed consumer.  Find a solution that works for YOU.   


Back to Top
kennerman View Drop Down
Groupie
Groupie


Joined: 08/November/2009
Location: Ottawa
Points: 59
Post Options Post Options   Thanks (0) Thanks(0)   Quote kennerman Quote  Post ReplyReply Direct Link To This Post Posted: 17/March/2010 at 2:40pm
what usually constitutes hardship? is being underemployed enough? Do you need a long term disability? I am a few years away from being done my consumer proposal, I am just examining options. Thanks.
Back to Top
Madmorrigan View Drop Down
Groupie
Groupie
Avatar

Joined: 09/March/2005
Location: Canada
Points: 177
Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 18/March/2010 at 10:39am
The definition of "hardship" depends on the day, and the person who's lucky enough to get your paperwork....hell, even death doesn't qualify as 'hardship' in some cases (I remember a well-publicized case a few years ago of a former student that had an accident and was on life-support--they continued to hound her family, even after she died). 
Back to Top
2befree View Drop Down
Newbie
Newbie


Joined: 08/July/2012
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote 2befree Quote  Post ReplyReply Direct Link To This Post Posted: 08/July/2012 at 7:49am
I would be interested in having you contact me as well! 
Back to Top
 Post Reply Post Reply Page  <123

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.