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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brokendreams View Drop Down
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Joined: 06/March/2007
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    Posted: 06/March/2007 at 3:55am

My favourite thing about Student Loans sending your loan to a collection agency like NorDon, is that they immediately demand your entire loan in one lump sum from the get go.

I have been out of school since 2004, when Student Loans refused to give me anymore money because of a minor blip I encountered when I had to go home during Winter Finals for a funeral for my uncle.

I'm 23 years old, working a part time job that gives me about 22 hours a week, and living on my own in a city 6 hours away from home. I have to pay rent, bills, groceries and survive on my own, and collection agencies want me to make my parents pay my bill payment for me.

I got a phone call today from NorDon requesting 13,500 dollars by the end of the day because I had failed to return a income worksheet which I had gotten in the mail this morning!

I guess I'm just scared and don't know the facts. So if anyone can help me that would be appreciated!

1) Since I've been sent to a collection agency, does the 6 year rule still apply? Meaning - can I go 6 years without contact with them and then the bill will just be voided?

2) Can they really suspend my payments from work? They have threatened to speak with my boss at work to make sure that my paychecks go to them, and not to me.

3) When they say they are taking a legal action - what exactly are they doing? Will you end up in court, and what's the worst that could happen?
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Southpa View Drop Down
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Points: 18 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Southpa Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2007 at 1:44pm
Do some reading in the archives and I'm sure you will find some answers to your questions.  Six-year rule?  never heard of it.  I've been stuck in limbo for twice that amount of time, ie. loans in default for 12 years and my debts haven't been voided yet.  Smile . 
 
If money is tight then don't go overboard trying to satisfy Nordon's needs.  YOUR needs come first.   No need to live like a 3rd class citizen because you owe a little money.  EVERYONE owes something somewhere.  I've seen people carted off to the looney bin, ie. nervous breakdowns etc. over their student loan debt.  So don't let stress take over and don't let phone conversations get rude and racey.   You will read about quite a lot of phone abuse from collection agency personnel here.  I found that talking about it over the phone with these guys does nothing but cause ill feeling and STRESS.  So I opted to change my phone number, got unlisted status and set up Caller ID.  I'm not prepared to approach my parents for asking them to take a mortgage out on their respective properties.  They are both in their 70's and both have been fighting cancer.
 
Yes they can garnishee wages if you let them.  Don't volunteer info that could hurt you later on, you have rights.  The admin for this forum will do a better job of answering your Q's.
 
I'm tempted to write "DECEASED - RETURN TO SENDER" on the next correspondence that I receive in the mail from a collection agency.  Just to mess with their heads.  Tongue
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Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2007 at 2:52pm
Broke,

1) This all depends on who you owe. Debt does not simply "die". It is removed from active recovery because of limitations. Lending institutions and their hired help (collection agncies) do not alert people the fact that a debt is barred. In many cases, it is business as usual until the borrower somehow finds out if it is barred - and throws this information and proof back in their face. This is extremely difficult for people to do on their own though because of the strength of the lending sector, and the risk of acknowledging the debt. This will cause the debt to survive for a new limitation period of whichever statute applies.

People need professional help for this and it is something we provide people.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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SolveStudentDebt View Drop Down
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Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2007 at 2:53pm
2) Don't know what you mean by "suspend my payments from work" (?). They do threaten to have discussions with employers. They can call your employer and discuss the weather, or who won the Leafs game but they cannot discuss your personal financial issues. There are cases where collectors are brave enough to break the golden rules associated with privacy and disclosure of sensitive information to unauthorized parties. If they are caught in the act, or there is proof of the violation, there are serious implications to the collector and agency as a result.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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SolveStudentDebt View Drop Down
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Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 06/March/2007 at 2:54pm
3) Legal action threats could be real or empty. No one can make that determination, unfortunately Collection agencies sue people all of the time, and many of the people they sue really do not fit the profile of someone who should be sued. These types of issues also require a certain approach. The problem for borrowers is that the collection agencies have the ability to sue people because their clients authorize it based on the collector's testimony. Banks and governments simply say, "sure, why not. What have we got to lose".

Will you end up in court? Only if you want to be there (?).

If you would like this matter solved, let me know. I can fix this problem. You would have to become a client though. We have all sorts of service packages and membership options.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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