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 Locked97 to CSL period

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Bech View Drop Down
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    Posted: 11/May/2006 at 4:28am

A few questions.

1) Do I understand it correctly that a judgment is unlikely on a (non-CSL loan). The loans in question are from the 97 to pre 2000-CSL period.

2) Can one go bankrupt on loan once a judgment has been made?

3) My problem debt is with my (pre 2000-CSL) bank student loans that are now handled by CBCL and CBV. I vaguely got the impression that the banks received an initial default fee from the government when these loans were initiated. Are loans from this period more likely to be accepted in a bankruptcy?

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 11/May/2006 at 8:16pm

1) No.

2) Yes, a person can file an assignment into bankruptcy at any time. Bankruptcy trustees are always hungry for new bankrupts. However, if this debt is a student loan, don't count on bankruptcy to make it all go away. You would be throwing away $1500 (more or less).

3) Again, bankruptcy is not going to do you any good, especially when the loan provider(s) opose the discharge and examine if or not you can/should pay them.

Johnny

www.cfwgroup.ca

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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