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 - Help! Collection Agency concerns
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedHelp! Collection Agency concerns

 Post Reply Post Reply
Author
2TRD2ARGUE View Drop Down
Newbie
Newbie


Joined: 26/February/2008
Location: Canada
Points: 1
Post Options Post Options   Thanks (0) Thanks(0)   Quote 2TRD2ARGUE Quote  Post ReplyReply Direct Link To This Post Topic: Help! Collection Agency concerns
    Posted: 26/February/2008 at 6:12am
back in '98 I took out 2 SL's one provincial and one federal from different banks ... 
After the course was done, I still wasn't able to find a job, so I began applying for interest relief. This lasted for almost a year until my applications for interest relief were being misplaced regularly. It finally came to a point where I was told that I would have to make the payments for the months that the interest relief papers were "misplaced" before they could allow me to apply for interest relief again. I couldn't pay so my understanding was that this debt would go into collection and I would not be able to get another student loan in the future.
In 2006 I rec'd a call from a debt collection agency regarding one of the student loans. I disputed the debt b/c I had gotten a written credit report a few months prior that did not list the debt at all. According to that report the other loan had been listed as a bad debt years before and at the time I had called that bank and was told that the debt was no longer on their records and had been essentially written off.  I was unclear as to why I would be getting collection calls for a debt that wasn't on my credit report and why one loan would be written off but not the other.
I was unemployed at the time, but made efforts to pay. For 3 months I made $20 payments. Then I found out that I wouldn't be working for an extended period of time b/c the doctors had found cancer. I told the collection agency that I could no longer pay and why. They asked for something in writing, but I was uncomfortable with that so I did not.
Recently a new collection agency has been in contact with me. The debt has accrued over $3000 in interest, still is not listed on my credit report and can be settled for 80% of the cost. My issue is that I am still not in a situation to pay and don't anticipate being in a better situation any time soon. I work as a supplemental employee so there is very little job security and I have two young children to support.
The collection agency has sent my paperwork to prove that I cannot pay and has told me that they will present my scenario to their "client" to possibly get the debt lowered or forgiven. Do I trust a collection agency? Is this just an attempt to have me acknowledge the debt in writing? I don't condone avoiding debts and I want to set a good example for my children, but I really cannot pay this 10 yr old debt.
Any advice would help.
Back to Top
Sponsored Links


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.