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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jaxxon View Drop Down
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Joined: 18/May/2010
Location: Ontario
Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote jaxxon Quote  Post ReplyReply Direct Link To This Post Topic: Old loan I started to pay
    Posted: 18/May/2010 at 4:56pm
Ok...graduated 1997 defaulted right away......started getting contacted in 1999....harassed in 2002 and then nothing.....until 2008....I started making regular monthly payments....the original balance was $6200 and with the interest it became $8750ish.....I have volunteered to pay $200/month and have made good on that and even threw in more if I had it....debt is down to $4500 :)  So I get these financial assessments every few months....I dont fill them out....I pay over the 3% of the balance so I ignore the questionnaire everytime without hassle....two weeks ago a Mrs Gage from Nordon calls me at the business number to the building where my business is but that number doesnt belong to me....they call me to the phone and this woman demands payment in full and tells me that I have not tried to secure a loan to pay the entire amount and that my payments are no longer sufficient and are not agreed anymore....I of course laughed and told her to chase those that arent paying instead of harassing those that are and in the future this number is completely off limits and I requested all correspondence in writing several times.  She proceeded to tell me that she would call that number everyday until she either got payment in full or I proved to her I tried to secure a loan....I again laughed and informed her that because her company keeps making 'inquiries' on my credit with no provocation that my score is being affected and a loan is out of the question and I refuse to lower my score any more than they have by applying for one :)  She hasnt called back since but did send me another assessment as well as a separate letter dated the same day saying that my $266.56 agreed payment was no longer viable.....I have never agreed to that amount EVER nor have I ever paid such a weird amount.....unfortunately for her I do all my paying through internet banking and have every transaction accounted for......
Now my question is...do I have to fill that stupid assessment out?  I am self employed and I dont want to have to dig through any of this and that if I can just keep paying and be done with it...
and also, is she allowed to tell me that my payments are not ok anymore.....heck, I have paid half the loan down....shouldn't she chase people that haven't?????
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Madmorrigan View Drop Down
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Joined: 09/March/2005
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Points: 177 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 19/May/2010 at 6:43am
They see that you're paying and they want more because they figure it's easier to go after someone with money than someone without....simple. Personally, I would ignore the assessment and make sure you record any calls that come in--then file a complaint with the Consumer and Business Services office, or whatever it is they call themselves now. Worst case scenario, they take you to court and you prove you've been paying, they get nothing more (likely will not come to that, though!).

Good luck!
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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
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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: 19/May/2010 at 6:43am
Originally posted by jaxxon jaxxon wrote:

I requested all correspondence in writing several times.  She proceeded to tell me that she would call that number everyday until she either got payment in full or I proved to her I tried to secure a loan....
 
This is how most collectors handle such an objection from their targeted party. They like to throw around this pseudo authority that they do not have to listen to or abide by your requests.
 
Originally posted by jaxxon jaxxon wrote:

I again laughed and informed her that ...
 
You should be a little more careful with your reaction and behavior in situations like this. This is what prompts collectors to make political statements that could affect you. All the collector has to do is demonstrate to the loan provider that it would be in their best interest to litigate. SOme agencies are known for this.
 
Originally posted by jaxxon jaxxon wrote:

do I have to fill that stupid assessment out?
 
 
Depends who is looking for it. If it is a government debt then they place mandates on borrowers to provide such information.
 
Originally posted by jaxxon jaxxon wrote:

is she allowed to tell me that my payments are not ok anymore.....heck, I have paid half the loan down....shouldn't she chase people that haven't?????
 
Unfortunately, they are permitted to refuse an arrangement if they detemrine that it is unsatisfactory. This is why they want those financial assessment forms to be completed. This is how people illustrate their inability. The problem is that collectors use information against people rather than to help support their claims of inability and hardship. You have to be able to break through that common barrier that collectors put up. The CFW Group specializes in help people do that. Collectors do and say the darndest things.
 
If you need help you can contact privacy.   
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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