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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Forum LockedCollections and Harassment.

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broke_johnny View Drop Down
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Joined: 11/October/2007
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    Posted: 11/October/2007 at 7:03am
hello
 
I defaulted on my student loan aboput a year ago.  I owe about 4500.  It was sent to collections a few months ago.  I usually justy ignore the call and let the phone ring.  When I finally answered,  the guy at the other end went into a usual spiel of "why havent you been making payments on your student loan" etc etc."  I told him that I had no assets or money and to please take legal action against me and hung up.  He phoned back and told me "that I better smarten up", and I told him to please not contact him, and hung up.  Then I have ignored the next few calls.
 
The truth is I have no assets.  I have no car, home, savings, bonds, etc.  I was actually homeless for a few months last year due to some personal problems, but now I am renting a shared apartment.  I currently have no way of paying for my loans.  Perhaps in the future?
 
My question is if you tell them over the phone or write them explaining that you would rather have legal action taken against you than deal with collections, will they stop calling?  I'm sure that CSL won't try to sue me because they have nothing to gain from me, and would likely cost them more money tahn it;'s worth.  Will they eventually garnish my wages?
 
I've just handed in my tax forms for 2005 and 2006, and I'm sure they will keep the returns, which is fine by me.  Will they eventually garnish my wages too?  And what are the long term reprocussions, besides a negative credit rating?
 
And help you can give me would be greatly appreciated
 
Thanks Smile
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 12/October/2007 at 3:14am
Why would you rather have legal action taken? If you are truly unable to pay, and can demonstrate this, then do so. Send your demonstration to the agency and your loan provider.  I see your frustration, but simply doing what I suggested will save youa heck of alot of trouble.
 
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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