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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Brucio View Drop Down
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Joined: 06/March/2006
Points: 2 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Brucio Quote  Post ReplyReply Direct Link To This Post Topic: Old Bankruptcy - Defaulted - Help?
    Posted: 07/March/2006 at 1:47pm

As this is my first post, I would like to say what a wonderful idea this forum is ... imagine ... people helping people ... what a novel idea ... good work and a ray of hope to many people ... congratulations and thanks to everyone

So ... I know ... I know ... I screwed up (big, big, big) ... The problem is I'm not sure if it's too late to correct things ... or if I have to make like Bambi and run ...

The problem ... I declared bankruptcy (1996) ... student loans were involved ... I was given a conditional discharge ... however, due to some serious personal problems I wasn't thinking straight and made some bad decisions ... I defaulted on my first payment to the trustee (1996) ... in fact I have never made payments at all ... instead, I chose to skip the country (now in Europe) ...

I'd like to correct this situation (pay my debts) if it's possible ... but I'm not sure if it can be done ...

Here's my story if anyone is interested ...

- Student Loans 1991 - 1994 ... study period ended 1994 - 35k for me and about 30k for my wife ... so total 65k

- My loans ... Canada Student Loan 25k ... Ontario (OSAP) 10k

- 1995 - My wife convinced me that we should file for bankruptcy (her idea ... although I admit I was easily talked into it ... so, yeah, I know I take the blame)

- I'm certain the trustee never told us that student loans could not be included in the bankruptcy ... I would have remembered if he did since the loans were 95% of our debt ... otherwise why would we bother?

- I signed some documents for the trustee dated January 13 1995 (I have kept copies) ... at that time I was unemployed ... As luck would have it, I found a low paying job about 10 days later ... yeah, this would come back to haunt me

- Bankruptcy process started ... my wife ran off with another man and cleared out our bank accounts (the only money I had - it was really very little - no other investments)

- the government opposed my bankruptcy ... Canada Student Loans

- I was given a conditional discharge ... I was told to pay 18k before I could be discharged ... as the CSL was 25k originally I was shocked that the judgement was so high (the government's rep asked for only 13k) ... but as I had just started working ... well ...

- Meanwhile ... things went from bad to worse ... the company where I had worked for only a few months folded so I was unemployed again

- So ... my wife left for another guy ... I was unemployed ... bankruptcy certainly didn't work ... and I had this 18k debt to pay (oh and you have 3 weeks to start making payments, sir)

- As my wife had left me, I remained dazed and cofused for a good year or so ... and I admit I made some bad decisions (about many things) during that year ...

I'm now living in Europe (as of 1996) ... I work ... earn about 16k a year ... it's not much but I'd like to pay off this debt if possible

Questions :

(1) How serious are the possible consequences of this past (dumb) decision? Can it be resolved or do I continue hiding out in Europe? (In fact, I don't plan on returning to Canada, but I would still like to pay the debt.)

(2) Who could I contact to determine if I can still pay this debt and how much I owe now including interest?

(3) I was told by the judge (January 1996) to pay 18k before being discharged ... if I defaulted I would pay interest at the Courts of Justice Act rate ... how is this rate of interest calculated?

(4) Is it possible for a debt like this (related to a bankruptcy) to be stats barred? (Note: I'm not looking to avoid the debt ... just looking to avoid any serious consequences with the government)

(5) As for the OSAP ... I would like to pay this off too ... was 10k in 1996 ... how can I find out how much it is now?

Thanks for any help you can offer.
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