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 LockedCBV Collections.. scotiabank visa debt.. help?
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Joined: 14/June/2013
Location: SK
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    Posted: 14/June/2013 at 2:49pm
Okay, so.. Story starts here, 4 years ago, I went into debt.. with an overdraft and a visa.. I'm 2,880$ in debt... lmao not that much right?

I know, but still. I am working 16 hours a week (which is completely pathetic) and have a 2 year old son and a fiancee I am marrying in August.

I cannot AFFORD the 1,379$ settlement they gave me.

I paid 100$ to scotiabank, here where I live a few months ago, but CBV was never told this by scotiabank, they told me I should have paid CBV and had lost my 100$.

CBV has been contacting me since January, then stopped for a few months.. Just today they contacted me back, a guy named Amar, said he was the senior officer and told me if I don't get it paid by monday the 'client' (which would be scotiabank) would make a report on my credit saying unpaid and Amar said I wouldn't be able to get a mortage, loan or even a car or anything that deals with loans for 7 years. I was freaking devastated.

I told him I couldn't come up with 1379$ I could barely afford groceries for my family yet alone my 346 car payment and 825 rent. My entire family lives in a different province and I never talk to them.

A few things:

I have not recieved a letter from them stating my balance or whatever.. they just call me.
They have told me I cannot make monthly payments WHICH I am willing to do, they told me I should pay in full and borrow from a friend or family member or get a 'loan'



--

I am so confused on what to do and scared to even talk to them, I don't want to get sued and I don't want my credit to be messed up for 7 years. I am willing to pay them monthly but just cannot afford the 1,700 working only 2 days a week, what do I do? (I am trying to find another job but nobody has gotten back to me, i've had 3 interviews within the past 2 months and nothing.. hard to find a job where I am)

thanks for reading and sorry for the long post, please comment if I have confused you.. :)
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Joined: 14/June/2013
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Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Debilitation Quote  Post ReplyReply Direct Link To This Post Posted: 15/June/2013 at 5:04am
Just a quick update on this. I had called requesting a letter. He said it would be here (through email and mail)

I then got talking to him about paying off the 1400 & said it may be nearly impossible as I'm only working 16 hours a week and in the process of moving to another city at the end of the month to a 40 hour a week job.

I told him I would be able to pay it off in monthly installments or even every 2 weeks when I can afford it in July. He had rejected it and told me that he's just going to tell Scotiabank to pursue - or judgement against me and have me force to pay my loan when I was WILLING to finally do monthly or even bi-weekly payments.

He then was actually started to be rude and raise his voice, so I said.. Don't be rude or raise your voice to me please, I just want to know if I can make monthly or bi-weekly payments and he said no. The bank won't do it.

After I asked him to show proof of what the bank had agreed to (pursue me etc..) he started to raise his voice again.. then I said please don't be rude, I had requested you once to not yell or be harassive.
He then raised his voice and said "You know what sir, this is your problem not mine. I will tell the banks you do not want to settle this"

(Even though I have never said I would NEVER pay this, or reject any payments)

Then he hung up on me.. :l So yeah.. I really want to get this loan out of here but hes making it nearly impossible to even try, he just wants me to pay in a large sum. What do I do? :/ 
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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/June/2013 at 6:44am
If you can't pay it you can't pay it. It is that simple.  The collector has only two options here - accept whatever it is that you are proposing.  Some colelctors resort to yelling and talking above and down at people as a method of setting a higher level of urgency that you act on what is being demanded of you. It's that "or else" factor that stimulates fear responses from you, as you'ce clearly described above.
I can tell you what to say and when to say it, but at the end of this day or the next it is going to be a time consuming and constant battle between you and the collector, and you will be coming back to me saying this or that happened, so "what do I do next".  If you would like mediation I can go over your desired results with you and help get you on the right road without having to dea with that nonsense anymore. It is a service so there are fees, depending on the scope of work involved. In this case, it is really inexpensive because it won't require me a great deal of time to do this for you.
If you want this service, fill out a request for mediation at www.cfwgroup.ca in the contact page. Heather or someone in her area will get back to you within a day (or less).
Best!
 
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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Points: 5996 		Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 15/June/2013 at 6:46am
Forgot to write in the second collector's option - see above.
 
 
2) determine if there is a legal avenue to push. If there is no legal avenue then it is a waste of their time and money.
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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