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 LockedWho am I supposed to be dealing with???

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whattodo View Drop Down
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Joined: 16/February/2006
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    Posted: 16/February/2006 at 5:48am
Most here will relate to my story.
I have 3 student loans. 
2 with CIBC and one with Gov. of Canada
The CIBC student loans went into collections shortly after I exhausted all my interest relief.  The collection agency is COLLECTCORP or is it ACCOUNTS RECOVERY CORPORATION.  ARC is located in Ontario and COLLECTCORP is located in BC.
So I received 2 letters:
One is stating the amount owing is 13,124.65
One is stating the amount owing as 32,431.97
Two totally different amounts.
Now, according to CIBC I owe 30,124.18. 
The accounts are still listed as being with CIBC.  It's stated right in my profile on online banking. 
I have been getting alot of calls from COLLECTCORP in BC, but the letters I recieve are from ONTARIO. 
I have checked and neither collection agency is registered in my province.  Whether that makes a difference or not.
I have told them that I could only afford 50 bucks a month right now.  They seemed fine on the phone with that at the beginning of January, but they keep calling like nothing was ever said and sending letters.  I have to continually explain the same thing over and over again. 
Each time I receive a letter it's never signed.  It only says:
Your's Truly,
Collections Officer
On the letters they also have  a spot where they have attorney costs, court costs and misc. fees.

I am trying to make sense of all of this, and find out who I am supposed to be talking too and WHERE the actual OFFICE is.  I'm not trying to get out of paying the debt but I am trying to get some assistance in the right direction.
I have wrote them a letter stating that I can't afford the payments they want me to pay.  I offered an alternative payment plan to the CIBC, and hope that this will not affect my credit rating that much. 
Anyone have any suggestions? 

This number has been coming up on my call display.  1-905-566-5861
It calls usually every day and when I try and call back, the number will not go through.  Does anyone have any idea who this is?


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