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 LockedHelp with Proposals

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help View Drop Down
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Joined: 05/October/2004
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Post Options Post Options   Thanks (0) Thanks(0)   Quote help Quote  Post ReplyReply Direct Link To This Post Topic: Help with Proposals
    Posted: 05/October/2004 at 11:28am
I spoke to a trustee in bankruptcy today and was told that I could not do a consumer prosposal as I have not been out of school for 10 years yet. I thought this was only the case for bankruptcies which I am trying to avoid. The max I could pay is $200.00 a month over 5 years which would be $12000 on a $19,000 woth of loans. My defaulted loans are with three different creditors and they are not willing to split that $200.00 per month. Does anyone know about comsumer proposals or has anyone had any sucess with them?
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momof2 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 05/October/2004 at 12:32pm
i suggest you try and contact johnny - he nay be ablt to assist you.
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dazed&confused View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote dazed&confused Quote  Post ReplyReply Direct Link To This Post Posted: 05/October/2004 at 3:35pm
Consumer Proposals are a waste of time. so is debt counselling.  Just pay them whatever you think is fair and reasonable without starving yourself. They HAVE to accept it.  I've been doing it that way going on seven years now.
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momof2 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 05/October/2004 at 3:51pm

i agree with dazed

proposals and counselling are basically a waste and your money is better spent trying to get out of debt.  i suggest you take your 200 bucks and split it into chunks.  you can put more on the largest to try and keep the interest down or put more on the smallest to try and get it to disappear faster.

or you could always split 100 bucks between the three and stick 100 bucks aside to build up a chunk for a settlement down the road.

despite what you may think, you do have some options.  but avoid bankruptcy at all costs.  it will screw you big time in the future.

good luck and keep us posted

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hunter View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post Posted: 07/October/2004 at 6:57am
I was signed up for a consumer proposal last year, and then I withdrew my application. I was at first told that I would only be under the consumer proposal for three years, and I was led to know that after that I would be free of all debt. Not the case, the consumer proposal only protects you from wage guarnishee or being sued for the loan, and after the three years you continue to pay and they review your financial situation.
And then they give you a list of things that you have to comply with for the whole time. And it is pretty strict.
You have to send them your pay stubs and documentation of how you spent every penny.
You can not access any more credit, no matter for what.
If you sell any property you have to tell them and turn over any proceeds to the consumer proposal.

Plus they keep what ever you pay them for three months, take out their cut, and send the amount to the creditors. I can do that for myself. And I don't need someone telling me how to spend what very little money that I have.

It is pretty unreal.

I withdrew my application, and I am sending the collectors what I can afford.
Another thing is that consumer proposal are right up there like bankruptcy, that is another thing to consider.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote hunter Quote  Post ReplyReply Direct Link To This Post Posted: 07/October/2004 at 6:58am
Another thing, is that I have been out of school for 6 years and I was told that I could do the consumer proposal.
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