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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Forum LockedCollection agency pulled credit report - legal?

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moneytalks View Drop Down
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    Posted: 09/September/2010 at 11:43am
I noticed on my TransUnion credit report that in 2005 and 2007, two separate collection agencies, did a credit inquiry on me. Probably to see if they could get any new information on me because I would send back mail and not answer my phone back then. After a while there were just too many debts to keep paying - even the minimum payment on, especially considering my low income then. So I filed for bankruptcy and all debts were discharged in 2008, including the remaining debt on students loans because they were old enough at the time (luckily).

After reading some post on here, I'm thinking that collection agencies may have a right to pull a credit report on someone without that person's consent. I always thought the individual needed to give permission, like when you apply for credit at a store or on a credit card application, you have to agree that you allow them to pull your credit information. Credit inquiries lower my credit score and I'm working hard to improve my credit now. After bankruptcy, you need all the help you can get! I'm trying to get all legitimately incorrect information removed or updated and would love to get these two inquiries off my credit report.

Just for my own peace of mind (and potentially to use as proof that these inquiries need to be removed), does anyone know of a link to a web page that confirms or denies a collection agency's right to make a credit bureau inquiry on someone without consent of the debtor? Thanks! :)


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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 13/September/2010 at 4:34am
Inquiries remain on a credit file for 3 years. You should write to TU and address that with them. THe bankruptcy will remain on there but old inquires are supposed to fall off.
 
 
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Madmorrigan View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 14/September/2010 at 7:35am
Old inquiries will only fall off if there is something to replace it--they are SUPPOSED to come off, but TU keeps the last five hits, regardless of when.

A little something I've learned over the years trying to fix mine.
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