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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northguiy4 View Drop Down
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Joined: 22/August/2004
Location: Canada
Points: 2 		Post Options Post Options   Thanks (0) Thanks(0)   Quote northguiy4 Quote  Post ReplyReply Direct Link To This Post Topic: making payments and still getting harrass
    Posted: 22/August/2004 at 12:19pm

Johnny, I had a student loan with the RBC I was granted interest relief on the loan after I graduated, but three months into my interest relief period RBC emptied my bank account. I called the bank and they stated that my interest relief was now declined and that they can withdraw the funds from my bank account and that they did not have to give me notice to due so. After that I closed my bank account at RBC and refused to make any more payments.

My loan eventually went to a numerous collection agencies for debt collection which I still refused to pay.

In April 2002 I did agree with NCO financial to pay monthly payments of $200 for which I have never been late or missed a payment. Then in February of this year NCO started calling me first the said that they were changing over their banking system at that I would have to send them my banking information again. I refused.

In March the called me and stated that they were out of my checks, and that I need to send them more. My payment were direct withdraw from my mothers account. Again I refused.

My payment were still being withdrawn from my account.

Last month NCO contacted me again stating the were doing a 6 month review of my account and asked me to send them new checks for which I refused again. I stated that I had signed a paper (contract) allowing NCO to withdraw 200 a month from my account until my student loan was payed off at that and I would honour that contract.

They have now stoped withdrawing my payment from my bank account.

Numerous call later I told NCO to send a copy of my file to my lawyer.

The last call I returned to NCO I was told the getting my summons ready to send to me but all I have received in notices to pay in full and that my credit privileges have been revoked and my delinquency will no longer be tolerated.

I have not directly met with my lawyer over this but should I get counsel or do I have to pay the remainder of my loan in full to NCO?

Thanks in advance,.
Its all good!
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eshelton View Drop Down
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Joined: 19/January/2004
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Points: 375 		Post Options Post Options   Thanks (0) Thanks(0)   Quote eshelton Quote  Post ReplyReply Direct Link To This Post Posted: 04/November/2004 at 5:43pm
A contract is a contact is a contract.  If NCO is breaching the contract, it is definitely worth talking to a lawyer.  To keep things provable, don't discuss this over the phone unless you record them like I do (see topic on dealing with collection agencies - phone recording software).  
"A proof is a proof. What kind of a proof? It's a proof. A proof is a proof. And when you have a good proof, it's because it's proven." - Jean Chretien
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