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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brooktrout View Drop Down
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Points: 8 		Post Options Post Options   Thanks (0) Thanks(0)   Quote brooktrout Quote  Post ReplyReply Direct Link To This Post Topic: Scotiabank Loan from 92-96
    Posted: 20/April/2011 at 7:15am
ARC is contacting me about an old student loan through Scotiabank from 92-96 that I believe may be stats-barred, I haven't made any payments or acknowledgement since 00-01.  I have no surviving paperwork on anything from that time so I can't even figure out if this is CSL or OSL related, neither government is coming after me, so I don't even know if this is a legitimate collection.  My last year or so the loans were through TD and they have never contacted me, I even bank with them now.  Can I request every bit of information from ARC such as dates, amounts, what government guarantees the loans and such without it being construed as an acknowledgement of the debt?  Nothing is on my credit report.  Reading the Ontario Limitations Act is confusing but would this be barred as it is before 98 or would a last acknowledgement change that?  Any help would be most welcome!!
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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/April/2011 at 2:04am
People who are being contacted by either ARC or Global for old CIBC and Scotiabank student loans may have some limitation issues going on. Scotiabank appears to be on a frenzy to collect on these old accounts. They pay the collection agencies a 40% bounty for recovery on older accounts likes these. So, it is in the best interest of the collectiona gencies too, of course. The problem is that they will still try and pursue you for the debts even if there is a limitation issue if you do not know how to back them down and address the situation.
 
The CFW Group provides service to this segment of the the student loan borrower's population, so there is help for you.
 
You really do have to be very careful when you approach these groups for information. If you do anything that can be construed as an acknowledgment then you have no defense. In the case with Ontario and it's legislation, the banks and the agencies alike "twist" the legislation in the hopes of making it work for them. Unfortunately though, truth is truth and they cannot cause trouble or injury because of their own misinterpretation problems. LOL if they do then they are accountable for much more than the wrong-doing concerning the misleading and unprofessional behaviors that comes out in them when borrowers cite limitation issues.
 
The banks are simply trying to protect their own interests. The collection agencies they hire are trying to collect their own interests. The two have their own interests, and that will often cause a problem for the borrower who is being pursued. It's all about money and not truth. They want money and will pursue you for it even it means bending rules and engaging in unlawful practices.
 
If you are on Facebook look up The CFW Group Inc there. I discuss a lot of things there concerning limitation issues for people so they can grasp things a little better. If you want professional help getting this sorted out then you can ring me privately.
 
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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brooktrout View Drop Down
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Points: 8 		Post Options Post Options   Thanks (0) Thanks(0)   Quote brooktrout Quote  Post ReplyReply Direct Link To This Post Posted: 28/April/2011 at 3:48am
Thanks Johnny, I don't do the Facebook thing.  If I try to squeeze the information out of them verbally over the phone can that be construed as acknowledgement?  I'm under the impression it would have to be written for that to be the case.  Again, anything you can offer by way of advice will be most welcome and should I wish to obtain your services via CFW how would I go about it. 
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Points: 1 		Post Options Post Options   Thanks (0) Thanks(0)   Quote figureditout Quote  Post ReplyReply Direct Link To This Post Posted: 28/April/2011 at 2:11pm
I figured it out! I called service canada and got a senior investigator to help me and he recommended that i do the following.

*******
I recommend you send a letter, by facsimile or e-mail, to this collection agency and state, you have not made a payment on this loan in more than 6 years and have not acknowledged in writing that the debt is owed. As per the Fair Trading Act, Collection and Debt Repayment Practices Regulation, Section 12(1)(x), please close this account and advise your client, Scotiabank, to not assign the account to any more collection agencies.  
 
***
I got a call from the collection agency today who said that Scotiabank has closed my account and it will not be sent to anyone else.

Now I need to get this off my credit report. Clap

I got my loan in 1997 from Scotiabank, living in Ontario at the time. Today, i'm an Albertan. 

Go to their website and start spamming their emails on their websites as i did. After 4 emails, i finally got the call. 

Cheers
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brooktrout View Drop Down
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Points: 8 		Post Options Post Options   Thanks (0) Thanks(0)   Quote brooktrout Quote  Post ReplyReply Direct Link To This Post Posted: 03/May/2011 at 12:14pm
Are you sure they won't construe something in writing as acknowledgement?
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Points: 8 		Post Options Post Options   Thanks (0) Thanks(0)   Quote brooktrout Quote  Post ReplyReply Direct Link To This Post Posted: 06/May/2011 at 9:37am
Somebody calling himself 'Eric' from ARC just called minutes ago about a Scotiabank student loan.  I told him I don't acknowledge the debt and I don't want any more calls and he would have to contact me by mail for any further interaction regarding this.  I said I have asked repeatedly for them to conduct themselves in writing but they want verbal confirmation of my address.  I won't give it to them as they must already have it because they were able to get my phone number without anyone supplying it to them as soon as I got a land line again.  After hanging up this guy kept calling back without interruption for 5 minutes.  What can I do do stop this crap and why do they need my verbal confirmation of my address.  There has to be a way to get them to send all the information I need without acknowledging this loan.
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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: 15/May/2011 at 3:36am

Figureditout - you better have something in writing fromt he bank. The limitation law in alberta does not specify that the debt must be extinguished. If you wrote that letter in any way that acknowledges it, then you are back to square one. From the way you put it, it looks like to did acknowedge it.

You should be pursuing a written document to that effect.
 
Brooktrout - You need help with this?
 
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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brooktrout View Drop Down
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Points: 8 		Post Options Post Options   Thanks (0) Thanks(0)   Quote brooktrout Quote  Post ReplyReply Direct Link To This Post Posted: 15/May/2011 at 2:47pm
I'm not quite sure yet Johnny, how would I go about getting help from you?
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