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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2Shy View Drop Down
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    Posted: 05/February/2007 at 5:34am
My husband (before we were married) had a student loan that went into collections, my question is...
Am I now tied down to this loan because we are married and will it affect my credit rating?


He is unemployed and is unable to payoff the loan and I have my own student loans that I am working at repaying so I am really unable to help repay his.

His loan ended up with NCO before he could even think of repaying it.  Before it went into collections he was waiting for some forms for interest relief and such but never did get them and the next thing he knew we were getting like 4 phone calls a day from NCO.  The people calling were very rude and unfriendly.  He asked them why his loan was there because it shouldn't have been and they said that they would send him information and never did but continuously called day in and day out (even on weekends).  Finally he told them that, if they needed to contact him that they do so by mail and did not want anymore phone calls.  He did tell them that all he could afford was $40/month (this was a year ago when he was on EI but now he has no income) they flat out refused and said it was not enough.  Can they do that?

I don't mind helping him pay it off (I obviously knew about the loan before actually getting married) but I can't pay it off in one lump sum and can't pay more than $50/month (and in reality this is more that I actually can afford to pay) because I have my own, almost $1000/month student loans to pay off.

I guess I am just looking for some insight as I don't know much about collections and all this stuff.  Any help would be greatly appreciated.
Thanks
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Hetman View Drop Down
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Points: 6 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Hetman Quote  Post ReplyReply Direct Link To This Post Posted: 08/February/2007 at 3:56am
Sorry to hear about your situation.  I'm not an expert but perhaps some of my suggestions will help you out.  First of all a collection agency is only interested in one thing and that is to get the most money out of the debtor so they can get their slice.  Go to your provincial web site and find your provincial Collections Act.  That is a law that all provinces have.  It dictates a number of things regarding collecting debts but most importantly it clearly spells out how a collection agency can and can't collect.  Things like time of day when it's ok to phone, threatening phone calls, harassassing and phoning too often are usually mentioned in the Act.  Know your rights.  Next keep as much detail as you can about how the collection company acts.  In a notebook write down dates, times and who called you (if talking to them, ask for their name) and also what was said.  You can record your own phone call, if you are able.  I'm not sure if you have to inform the caller that the conversation will be recorded.  Keep all letters they send you and make copies of anything they send to you.  Collection companies like phone calls because they can break the rules and get away with it.
Regarding your husband's loan.  Contact whoever the loan belongs to.  The collection company only collects on behalf of whoever the loan is owed.  It could be a bank, provincial or federal government.  They are usually helpful.  Explain your situation and find out the history of the loan itself.  Ask about interest relief and debt reduction repayment.  Arrange any payment schedule through them and not the collection company.  Also, if the collection company has been breaking the Collections Act, mention that too.
Lastly, your credit rating won't be affected by his student loan status.  Student loans are treated differently, one big difference right now is that if a person goes into bankruptcy, the student loan doesn't get affected.
Good Luck

Glen
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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: 08/February/2007 at 11:58am
"Lastly, your credit rating won't be affected by his student loan status."

Not correct. Each case is unique, and that is something that one has to factor in. In many cases, credit bureaus tie married couples together. This cross referencing issue causes problems for many.

2Shy, if your husband is unemployed and unable to repay, he can have the account held until such time when he is able to. If you woudl like help getting this done, let me know. This will solve your problem.

Johnny

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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administrator View Drop Down
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Points: 1798 		Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 08/February/2007 at 1:22pm
Sorry Hetman, wrong on the interest relief and debt reduction...if its in collections, its in default....no interest relief or debt reduction is available if in default.
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Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024
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2Shy View Drop Down
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Points: 2 		Post Options Post Options   Thanks (0) Thanks(0)   Quote 2Shy Quote  Post ReplyReply Direct Link To This Post Posted: 08/February/2007 at 4:09pm
          Thanks for the responses guys.

It is kinda nice to somewhat know what I am dealing with...and scary at the same time.

    What really ticks me off is that it never should have went to collections, the student loan center place was supposed to send him some forms for interest relief and never did, the next thing he knew he was getting calls from NCO and when he confronted them about how the student loan center was supposed to get back to him, they said they would sent papers explaining and never did.
How is this right?!? 

Johnny -  if he can get the account held until he (or I seeing as how it could be affecting me) is/am able to pay...would this still affect his/my credit rating?

Thanks again
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