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 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 have been forced to cancel programs and layoff hundreds if not thousands of full-time and contract instructors.

Again, the Liberal government has messed up the education environment.


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citrine View Drop Down
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Joined: 09/November/2004
Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote citrine Quote  Post ReplyReply Direct Link To This Post Topic: Bankrupcy Discharge 1999
    Posted: 09/November/2004 at 9:07pm

Hi, great site, this is a great resource!  I hope someone can help me.

I finished school in April 1996.

I declared bankruptcy in April 1998.

I was discharged in January 1999.

I had assumed everything was settled, but just recently I have been contacted by a collection agency, Alliance One, (the end of October 2004)  about my bankruptcy.  They claim that the LAW states that 2 years must pass after I finished school to declare bankruptcy and because I declared during the same month that I fall out of this and I still owe the loan. 

I've read many postings in the forum, there is mention of 6 years and the loan is uncollectable?  I understand and have been waiting for the bankruptcy to clear after 6, is this the same thing?

In January 2005, two months from now, is my six year aniversary of my discharge.  Is this an indication of the collection agency pulling at straws?  I have not acknolwdge anything but recieved a phone call and a financial questionaire (I have not filled this out).   They were extremely aggressive and stated massive amounts of interest! But interestingly enough on the phone they quoted a figure that was nearly double that of the paperwork they sent.

I have contact my trustee and they seem to think there might be a case but I really got no where with them, it seems they don't care!    I'm worried that I've suffered for 6 years of bad credit for this to happen in the last couple of months.

Your help and suggestions are greatly appreciated!

Citrine
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Laura View Drop Down
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Joined: 18/January/2005
Points: 2 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Laura Quote  Post ReplyReply Direct Link To This Post Posted: 18/January/2005 at 5:08am

Citrine, I am in the same situation as you.  I finished school in April of 1996 and filed in April of 1998 and was discharged in January 1999. 

The calls kept coming in after the discharge from the collection agency; Collectcorp to be exact.  They were calling me every day at work, sometimes 3 times a day.  I told the collector that if she did not stop calling me at work I will make a complaint to the Ministry of Consumer Affairs.  Upon telling her that, she said "don't get smart with me young lady!".  So I made the complaint online, and the Collection Agency was sent a letter of my complaint, and they have not called me since October of 2004.  Collectcorp replied to the Ministry stating that at no time did I ask them to stop calling me at my workplace, or they would have stopped if I had asked.  Could you believe the nerve?

I recently ordered a credit file from Equifax and it is clear from the file, but the HRDC recently sent me a letter stating that I still owe this money which is about $6700.   They still withold my GST cheques and any Income Tax refunds.

How are we supposed to continue with out lives.  I am now reluctant to contribute to RRSPs because they will keep any refunds I get from that, and I can't afford to if they do keep it.  I know that there are others with much bigger loans than this, but I don't make much so for me this is huge.

My trustee also doesn't care to help.  I hope someone has a suggestion.  I don't want to retire poor.
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masy View Drop Down
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Joined: 13/June/2004
Points: 64 		Post Options Post Options   Thanks (0) Thanks(0)   Quote masy Quote  Post ReplyReply Direct Link To This Post Posted: 18/January/2005 at 6:05am

When I graduated in 1998 the policy around bankruptcy was that students could not declare bankruptcy on their student loans for a period of ten years after graduation. I don't know if this was the case before 1998, but it certainly sounds as if your student loan was not covered. You should find out when the 10 year policy took effect, because I think it is not that old.
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polyhymnia61 View Drop Down
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Joined: 10/January/2003
Location: Netherlands
Points: 915 		Post Options Post Options   Thanks (0) Thanks(0)   Quote polyhymnia61 Quote  Post ReplyReply Direct Link To This Post Posted: 18/January/2005 at 6:38am

Yeah...it went up to two in 1996 (I think)...then to ten in 1998 I believe (talk about stinky luck, eh?). Both posters were under the assumption that they waiting two years like required. Obviously open to (mis)interpretation, like most student loan rules!!

Poly
Home is where you are allowed to prosper.
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Laura View Drop Down
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Joined: 18/January/2005
Points: 2 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Laura Quote  Post ReplyReply Direct Link To This Post Posted: 18/January/2005 at 6:53am

When I went to my trustee to file in April of 1998, she told me that I was lucky to show up at that time because they were going to amend the law in June 1998 to 10 years.  She also showed me a stack of files of students who were in the same boat as I was. 

I also filed my OSAP but that was discharged in January of 1999, but I guess there are different rules for the Ontario Student Loan.  That's not to say that I didn't have problems with that Loan after the discharge.  They collected money from me $1500, and I consulted a Lawyer and he said that they committed a bankrupcty offence.  I wrote to the Ministry of Finance and they issued me a refund, and they removed the OSAP from my file. 

HRDC though is not letting up with the Canada Student Loan though.  It would be good if we were able to get enough people with the same problem to go public with this, like the newspapers...don't know if it would help.
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