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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encoremichael View Drop Down
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Joined: 22/October/2004
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Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote encoremichael Quote  Post ReplyReply Direct Link To This Post Topic: collect corp- help
    Posted: 22/October/2004 at 8:40am

I have a CSL through scotiabank

Due to financial hardship and a diagnosis of m.s. I have not had sufficient resources to make a payment of any sort whatsoever for eight years.

Collectcorp has been asking me to get a loan to pay off the debt I have just received a letter from their solicitor stating that legal action is pending unless I pay off the balance or start making payments. I don't mind making payments if I have to now since I have a less than decent wage; however, I have found the Canada Student Loans Act and read that no collection action can be taken against someone who has not made a single payment in six years...(it's actually in the act) This sounds too good to be true...Question: if I continue to not make payments, what's the worst they can do? and, in light of my findings in the Act, what can i do if this is true?

Please advised, These people are giving me an ulcer
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Blue. View Drop Down
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Joined: 17/May/2004
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Points: 168 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Blue. Quote  Post ReplyReply Direct Link To This Post Posted: 22/October/2004 at 8:52am

A) They can't ask you to take out a loan to pay them off. It's illegal.

B) Whether your loan can be collected on after 6 years depends on certain statues.

C) Email / call Johnny. (His address is on the front page of the site.) He can advise, and, for a fee, work out your problems.

D) Be careful that you don't actually acknowledge the loan. If you do, then you might be screwed, even if your loan IS barred.

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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: 22/October/2004 at 9:15am

 

 michael,

 If you have received a written notice from their attorney (Leonard Kytolo), then this is not for a guaranteed CSL (debt owing to the Crown). It is likely either a provincial or bank risk loan through the Scotia Bank.

 If the debt is in fact a bank risk loan, then the collector can recommend to a debtor that they must do whatever they can to rectify the problem. The banks do not have the same strict guidelines as the governments impose on their third party agencies regarding collection methodology. This is a real gray area for many 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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encoremichael View Drop Down
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Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote encoremichael Quote  Post ReplyReply Direct Link To This Post Posted: 22/October/2004 at 9:25am

I'm confused then, since I have always gone through the canada student loans centre. Which at the time was put through scotiabank. My New Brunswick student loan, (which was paid off before I finished school) was through a bank.....I'll email to find out

 
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eshelton View Drop Down
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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: 26/October/2004 at 4:02pm
It's so bloody complicated, isn't it?  I don't even think the top dogs working the system know how it works.  It's just one tangled mess of spagetti and we're caught in the middle of it all.
"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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