everyone has a sob story, so here’s mine:

Hey guys, i'm really glad to have found a forum like this one. However my issue is with RBC and not CIBC, although edulinx are the guys hassling me. sorry, but i wasn't sure which category i was supposed to place this under. PLEASE give me any feedback, i'm in big trouble and i need as much advice as i can get.

i didn't complete my second year of college before i was given a student visa (my last semester was charged to my visa), in addition to the huge loan, as i landed a job with a high paying company... i was making steady payments on both loans until last september when the company went belly-up and decided not to pay any of us, thus i've been unemployed until last week. yeah, i was retarded, i waited that many months for a paycheck and still haven't gotten it.

so here's the deal: tricura ( a law firm) are threatening me, and so is revenue canada, with income tax holdings and repossessions. i spoke with an RBC creditor and she doesn't seem to care about what happened, although i admitted i've been at fault for 7 months and i'm ready to begin with payments.

my question is, am i protected by any sort of law? i had absolutely no credit before these huge finances were made available to me - i admit i was at fault on the most part, and i took these loans in good faith of repayment. i came from a poor family (making me eligible for these loans, and they KNOW IT, my father's annual income of $14 grand are what gave me the loan) and they seem willing to destroy my credit. what are my options???

I'm on month seven of losing sleep, i don't want grants (grants only look after wealthy undergrads and immigrants), but i want to know my options. creditors won't explain my options without paying X dollars which contribute to their commission paycheque. my overdraft is disgustingly high, my visa is maxed, and i'm months behind. i'd rather not spend an eternity paying for interest to a government sister company who can obviously afford to give education away for free.

any feedback at all, other than to tell me i'm a retard, would be very appreciated. i dug a deep hole and i can't seem to climb out.

"the rich get richer, the poor get poorer... but only in canada"

Hi freebird,

Maybe you should consider contacting John LeBlanc at the Canadian Financial Wellness Group.  I believe you will find Johnny's contact info on the home page.

You've taken the right step and come to the right place.  The info and help available here is worth its weight in gold.

I know it's hard, but hang in there, and keep us posted.