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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whereto? View Drop Down
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Points: 292 		Post Options Post Options   Thanks (0) Thanks(0)   Quote whereto? Quote  Post ReplyReply Direct Link To This Post Posted: 29/August/2004 at 8:37pm
Actually, I don't think some do know anything about student loans...I've talked to a few people that have gone bankrupt that have been told that student loans are covered, will be taken care of, or will mysteriously "reset" after emerging from bankruptcy...SURPRISE........
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 29/August/2004 at 8:49pm

Like everyone else, trustees in bankruptcy are in the racket for the money.

And a very special kind of person you must be to choose that particular racket to make yourself wealthy. Sucking the last few dollars from a beleaguered, long suffering victim in order to liquidate what few pathetic possessions he or she hasn't already pawned to satisfy the demands of the other parasites. Telling people without hope lies to entice them to commit fiscal suicide and pocketing the last money these poor, damaged souls can scrape together.

But the best part must be the fun of treating those humiliated and crushed human beings to sanctimonious sermons on managing their finances and the evils of misusing credit.

As opposed to actually producing something useable by society or contributing in any positive way, those fungi on the body politic are in the same genus as the bill collectors and the "high risk" finance companies.

People, the sooner you opt out of the games they play, the sooner you can take a shower and wash off the filth that comes from associating with their ilk.

And, way to go Johnny, for helping these guys get past the scum they have to deal with.
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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: 29/August/2004 at 8:50pm

 

 So, what does that tell the community?

 Put it on a big flashy sign ...

 " Hey, having debt troubles?

  Come in to speak with one of our agents! Some of us can't guarantee you that we will know what we are talking about when you ask questions, but once you sign on the dotted line, it doesn't really matter anymore, does it? Afterall, bankruptcy is our business.

we will tell you whatever it is that you want to hear."

 

 

 

 

 
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 29/August/2004 at 9:13pm

And of course, who will listen to anybody who criticises or complains about the trustee?

The bankrupt is now marginalised and not considered worth hearing. Any reasonable concerns regarding the trustee's competence or integrity are dismissed because the source is considered to be apart from society as a social and financial leper.

When you are bankrupt you have no voice; you have nothing to say about anything because you have placed the management of your finances in someone else's hands. That makes you less than human, since those kinds of inhuman slugs only judge humanity by finances.
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Points: 792 		Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 30/August/2004 at 3:23am

i want to make sure im getting this right...

i have no income to pay my sl's or my cc.  i have no money to file for bankruptcy and no assets to liquidate to pay my creditors.  even if they decided to sue me the judgement would not be enforceable because i have nothing.  they cant touch my husbands income or any of his asets so i dont have to worry about him divorcing my ass. 

in theory, i could start using my CCTB for looking after my kids, like it was intended ??  the governement wont touch it because its supposed to be an income supplement to look after my kids ?  i just want to make sure i am understanding the warped way this works before i do anything.  i dont even get a gst refund for them to take (my husband gets it since he actually HAS an income).

so filing for bankruptcy would not help anyway ?  because if its going to take the little money i have and not make anything better im not going to waste my time with it.  i can manage the stress when i can figure out exactly where i stand.  i can work something out with td until i can get caught up or let it go to collections too - my credit rating is going to be in the toilet anyways, why not make it a party ??  and BNS can screw themselves over the sl's (at least i dont have to deal with HRDC since the bank themselves holds my loans).  i can laugh at the CA when they start calling and ask for payment in full - i'm guessing they wouldn't like it that much and maybe they would stop calling me after a while.  i have call display - i dont have to answer if i dont know who it is. 

maybe i have the wrong attitude but i dont see how taking responsibiblty for my sl right now is even possible.  and my visa balance supplemented my ability to live in school - cash advance for groceries etc when my apartment was flooded ( couldnt afford renters insurance either) - its not like i went out and bought something fun or had fancy dinners.  fancy in my house is easy mac for the kids, which they dont get often but love.

can a consumer proposal help get my sl payment reduced to a manageable level ?  because even though the bank is definately trying to screw me part of me does want to try and be a responsible person here.  oh wait that thought has passed - why break my back paying a bank who posted millions in profits last quarter ?  like they really need my money ?

am i off base here ??  because i'm starting to think i'm a wee bit deluded.  i know if i had a job i would pay the stupid loan.  but i dont and thats not going to change.  am i just so fed up with the bullsh*t that i really dont care anymore ? 

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 30/August/2004 at 5:22am

Genuine commitments are just that...commitment. Honest intentions. Circumstances change things though. If you had asked the loan officer at the time you were borrowing the money whether this meant that your children should go cold or hungry or without clothes to make a payment, the officer would have said, "What, are you insane?"

No one could possibly expect that.

Apart from the vermin they hire to collect while they pretend to keep their hands clean.
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Points: 41 		Post Options Post Options   Thanks (0) Thanks(0)   Quote moonlight Quote  Post ReplyReply Direct Link To This Post Posted: 15/November/2004 at 11:57am
2Laural

Is it the case in the province of alberta that during the 9mos til discharge you are only allowed to keep a portion of your income ie.$2000? Is it also the case that if i live with my boyfriend he will have to turn over all of his income as well? This would entail his debts going in to collections and his credit being ruined so I dont understand how this is justifiable?
Also, if one does go banko what is the likelihood if the legislation changes to 2years or 5 years in the next couple years of getting the banko to include this? Or would one have to go banko again?Realistically?
Moonlight
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Points: 7 		Post Options Post Options   Thanks (0) Thanks(0)   Quote masterplanter Quote  Post ReplyReply Direct Link To This Post Posted: 24/February/2007 at 8:32am
This is one for Johnny
 
I haven't been to the site for quite a while. After a couple hours reviewing threads I have noticed some consistent ideas that you suggest. Perhaps you could illuminate some of the more vague aspects. I will use a previous entry in this thread to focus my questions.
 
If a bankruptcy trustee or administrator were to reveal "truth" about student loan crisis recovery (as well as consumer debt crisis recovery), then there would be no need for bankruptcy. People need to know what their "real" options are rather than being told bankruptcy would save them. It is the people who can save themselves with the correct knowledge and awareness. Empowerment is the solution - and the costs for this are alot less than the fees for insolvency - and the hard costs associated with making wrong decisions.
 
What is the "truth" being withheld? (we can take it)
What are the "real" options.
What is the correct knowledge and awareness? (ala Carlos Casteneda?)
I am all for EMPOWERMENT, is there a fee involved? Because the debts involved were assumed in the pursuit of knowledge. (once bitten...)
 
I am not trying to be critical, but as I review, these questions come up over and over again. What are these great secrets to resolving our individual crisis. Also, since the failure of the CFS' charter challenge there seems to be no talk of our collective situation and potential remedies at that level of intervention. A retired judge has told me that there are other avenues potentially available for collective action/remedy that can be pursued. Do you know of any? Any that are active?
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