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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kennerman View Drop Down
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    Posted: 28/July/2011 at 12:32am
I guess this question is more directed towards John. If I am unable to make the payements on a consumer proposal and default i was wondering how that would effect my credit rating? when would the consumer proposal come off? 3 years from the date of default? or 3 years from the end date of the proposal, I recently lost my job and will be unable to keep up with payements. If i gave you a call do you think you'd be able to help me out of this mess, If I do default I really do not wish to file for bankruptcy and am not sure if I will have any source of income.

Thanks in advance.
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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: 28/July/2011 at 5:01am
If you are participating in a consumer propsal already then it has affected your credit history. It is 3 years from the satisfaction date. However, if you default, it will register on your report as an unknown disposition perhaps. Best thing to do is cally our trustee and ask if a defaulted CP converts to an actual bankruptcy proceeding. If that is the case then the record of it will remain on your credit history for 6 or 7 years, depending on the provincial limitation law that applies to it.
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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