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.


  New Posts New Posts RSS Feed - Bank account frozen
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedBank account frozen
 Post Reply Post Reply
Author
  Topic Search Topic Search  Topic Options Topic Options
angcbaker View Drop Down
Newbie
Newbie


Joined: 01/January/2007
Location: Canada
Points: 13 		Post Options Post Options   Thanks (0) Thanks(0)   Quote angcbaker Quote  Post ReplyReply Direct Link To This Post Topic: Bank account frozen
    Posted: 11/July/2007 at 5:20pm
Interesting how on June 28th I spoke with CBC newsradio one program sounds like canada regarding my Canada Student loan and how now all of a sudden today my bank was served papers to freeze my bank account.  So now my rent cheque didn't go through and my account is frozen for the remaining 4599 dollars I owe for the student loan i won't be able to make my car payment on Monday as they are now holding my cheque going into account on the 13th. I have no groceries as i was trying to purchase groceries when it came back saying insufficient funds.  I need gas to get to work so now i guess i will have no job.  Gotta love this country tell everyone you know not to ever get a student loan.
 
angela
Back to Top
Sponsored Links


Back to Top
frustrated-guy View Drop Down
Groupie
Groupie


Joined: 10/May/2004
Points: 212 		Post Options Post Options   Thanks (0) Thanks(0)   Quote frustrated-guy Quote  Post ReplyReply Direct Link To This Post Posted: 12/July/2007 at 2:34am
I would call up the CBC and ask them to tell what happened to you after you spoke to them.   Hopefully, with publicity this will get fixed.
Back to Top
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 12/July/2007 at 5:46am

Who served the bank with papers? Is the student loan a government guaranteed loan, or a debt owed to CIBC, RBC, or Scotiabank?

If you have a bank-risk student loan in default, and have an account at that bank, and there happens to be money floating around in it, the bank will perfrom an off-set and gaff those funds to apply to the loan(s).
 
If this is the case and it has caused you to fall backon rent, you can demonstrate that to thm and they should release money back to you.
 
Please tell me more and I will see what I can do to help you out.
 
Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
Back to Top
angcbaker View Drop Down
Newbie
Newbie


Joined: 01/January/2007
Location: Canada
Points: 13 		Post Options Post Options   Thanks (0) Thanks(0)   Quote angcbaker Quote  Post ReplyReply Direct Link To This Post Posted: 12/July/2007 at 6:16am
I have two outstanding loans that i have been making regular monthly payments on monthly without missing for about a year.  one is to alberta restrucuring and one to what is now called social development canada.  I agree that yes i defaulted in the past badly but have been trying to get back on track for a year now.  It was the alberta one that returned junes cheque without even opening the envelope and they are the ones that took it to court of queens bench and then to the bank I was never  notified of this never spoken to never given anything in writing other than a couple months ago stating that the payments i was making are fine which i can't find right now (the search is on)  i don't know I guess i just need to deal with it by trying to get a loan or something if anyone will even touch me and then take care of the other one too as i suspect that this will probably happen with that one too as the lady from social develpment (which is actually nco collection agency not a government agency) said that they liked my comments on the radio how everyone found out i don't know as i never heard myself on the radio and the show was eastern canada.  as for speaking to the media again I was asked to this morning and have refused as I really don't want anymore trouble and am pretty upset facing homelessness in 10 days and only have a half tank of gas left so will get me to work for about 3 days I go on holidays for two weeks next friday but doesn't help me and the kids when the day that my holidays start we have to be out of our place.  anyways just don't borrow money really think especially if from the government I wish you all the best.
 
ang
Back to Top
Dunker View Drop Down
Groupie
Groupie


Joined: 18/June/2007
Location: Canada
Points: 40 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Dunker Quote  Post ReplyReply Direct Link To This Post Posted: 12/July/2007 at 12:59pm
Another payment option you might consider is to pay the collection agency via online banking, after adding them as a payee.  It will save you the price of the stamp.  That's an extra 51 cents you can put towards your debt.  You can then have better control of the payments you make: when and how much.   And they will no longer have the opportunity to return your paper checks to you, om tje unopened letter.
 
When I consider all the trees that Collectcorp have cut down just to send us their annoying correspondance, it gives me some satisfaction to know that I'm doing my part to cut back on the paper waste going to our landfills by going paperless in my debt repayment efforts.
Back to Top
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 12/July/2007 at 3:13pm
Ang,
 
What collection agency, including location, is it that has mistreated you in the past? What have they done and said to you in the past?
 
You can contact me for coaching and such if you need it.
 
Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
Back to Top
angcbaker View Drop Down
Newbie
Newbie


Joined: 01/January/2007
Location: Canada
Points: 13 		Post Options Post Options   Thanks (0) Thanks(0)   Quote angcbaker Quote  Post ReplyReply Direct Link To This Post Posted: 12/July/2007 at 6:21pm
Johnny,
 
I will be contacting you shortly probably next week or on my holidays which start July 23rd to help me deal with my outstanding collection which is with NCO but they are calling themselves social development canada.  NCO is one of the worst harrassing collection agency i have ever dealt with the previous ones were bad to but these guys take the cake talking to my kids saying they are going to take our car etc and discussing my debt with them.  I do not recall the names of the previous ones as it seems to get passed around to different companies a lot without notice. I would contact you sooner but as you can tell i have a lot to do in the next week to get stuff straightened out with the seizure of my account and i can't really take any more time off work I work in an office where I have people there all the time I don't want to discuss it there.  I am not answering the phone to NCO untill I can get a device for the phone.
Have a great evening.
angie
Back to Top
angcbaker View Drop Down
Newbie
Newbie


Joined: 01/January/2007
Location: Canada
Points: 13 		Post Options Post Options   Thanks (0) Thanks(0)   Quote angcbaker Quote  Post ReplyReply Direct Link To This Post Posted: 12/July/2007 at 6:32pm
Johnny,
 
NCO that I am dealing with is out of Edmonton.  I don't have a specific worker it seems to get passed to this person that person because I can be pretty tactical on the phone and typically when they kids answer they just put the phone down and let them chat to nothing.  the last lady that called I asked her why she keeps phoning when i am making payments she said they want more money and that they now want me to fill out monthly income and expense statements then she made the comment of the radio broadcast saying how it sounded pretty interesting I was taken aback they seem to always know things about you that they shouldn't I got mad and I told her to bleep off and to take me to court she started screaming then that they will ruin me and that she is the government and I shouldn't be telling the government to take me to court I then couldn't take anymore and slammed the phone down in her ear because it urks me more than anything that they call themselves the government when they aren't they make 10 buck an hour working at a bloody collection agency and probably only get a commision if they get more out of us. when you call them back and they answer NCO not social development.  I can probably expect trouble with them now too also that one is confusing my payments are 86 dollars a month but they keep sending statements that make no sense and the monthly amount owed shows at 303 why is that when they agreed to the 86.  and then my total owing is never the same it jumps up down all around. I will keep you updated.
 
ang
Back to Top
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 13/July/2007 at 12:35am
I will show you how to deal with this and get results.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.