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 LockedDispute... over Bankruptcy
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citrine View Drop Down
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Joined: 09/November/2004
Points: 3 		Post Options Post Options   Thanks (0) Thanks(0)   Quote citrine Quote  Post ReplyReply Direct Link To This Post Topic: Dispute... over Bankruptcy
    Posted: 14/November/2004 at 3:46pm

I've already posted this, but I will add to this after reading some more posts:

 

Hi, great site, this is a great resource!  I hope someone can help me.

I finished school in April 1996.

I declared bankruptcy in April 1998.

I was discharged in January 1999.

I had assumed everything was settled, but just recently I have been contacted by a collection agency, Alliance One, (the end of October 2004)  about my bankruptcy.  They claim that the LAW states that 2 years must pass after I finished school to declare bankruptcy and because I declared during the same month that I fall out of this and I still owe the loan. 

I've read many postings in the forum, there is mention of 6 years and the loan is uncollectable?  I understand and have been waiting for the bankruptcy to clear after 6, is this the same thing?

In January 2005, two months from now, is my six year aniversary of my discharge.  Is this an indication of the collection agency pulling at straws?  I have not acknolwdge anything but recieved a phone call and a financial questionaire (I have not filled this out).   They were extremely aggressive and stated massive amounts of interest! But interestingly enough on the phone they quoted a figure that was nearly double that of the paperwork they sent.

I have contact my trustee and they seem to think there might be a case but I really got no where with them, it seems they don't care!    I'm worried that I've suffered for 6 years of bad credit for this to happen in the last couple of months.

Your help and suggestions are greatly appreciated!

Citrine

 

In addition, I am thinking that my whole dispute is based on declaring bankruptcy within 2 years of my school.

I finished school in April 1996 (My school cannot verify the specific date) and I filed on April 2, 1998.  I was discharged in January 1999.  I had assumed this was complete.  But now they are saying that the bankruptcy was filed too early (not after 2 years; but may only be within days.)  The actual bankruptcy was all SL about 15K and only about 1K of consumer loans.  At the time this seemed to large and my income so low that I needed to go bankrupt.  It seems very unfair that they are starting to pursue this now? and not in 1999 at the time of discharge.  All my paperwork from the discharge seem to indicate that everything was disolved.

Should I seek legal help?  Is it worth seeking legal help?  What does one expect to pay for this kind of legal help?

 

Thanks,

CItrine
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Ferren View Drop Down
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Joined: 17/February/2003
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Points: 248 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Ferren Quote  Post ReplyReply Direct Link To This Post Posted: 14/November/2004 at 4:24pm

If you haven't acknowledged the debt in writing or made a payment in 6 years, then it may very well be statute barred. They probably cannot do anything to you at this point. I would recommend that you retain the services of John Leblanc at cfwgroup@tekcity.net if you would like to clear this up. I hear his rates are very reasonable.
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