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.


  New Posts New Posts RSS Feed - Bankruptcy/GST refunds to CSL Q
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedBankruptcy/GST refunds to CSL Q

 Post Reply Post Reply
Author
JKL View Drop Down
Newbie
Newbie


Joined: 04/May/2009
Points: 1
Post Options Post Options   Thanks (0) Thanks(0)   Quote JKL Quote  Post ReplyReply Direct Link To This Post Topic: Bankruptcy/GST refunds to CSL Q
    Posted: 04/May/2009 at 6:45am
At a loss as to how to proceed.  Any input would be helpful.

It has been over 10 years since I was student.  I've not earned enough to need to file income tax since, and have never signed any CL paperwork (e.g. interest repayment ones) since my last year in school (nor made any repayments -- living under the poverty line).

I have given myself a deadline of October for my situation to turn around, after which I will file for bankruptcy (IF my student loan can be included).

Current financial crisis.  I learned it is possible to back file income tax for the 9 years that I did not do so because of the reasons I did not file (what not just a matter of income level, extraordinary circumstances which create a basis for taxpayer relief).  GST refunds would help cover large, unexpected immediate expenses.

I receive mail hit and miss.  One letter informed me that the Canada Student Loan program could withhold my GST refunds, but after receiving the letter, I still received my 2007 GST checks for the one year in ten that I filed income tax.  It is possible that a letter was sent but not received saying that actions had been taken and things are already set up so that my refunds would go to paying the CSL.

I can't imagine making ends make with the GST refunds by next month, but if even a portion of the money went directly to the CSL, I would be in the same financial predicament.  If I wait until October to file bankruptcy, would my GST refunds be lost due to the bankruptcy anyways?

Fear calling CSL directly to ask if the GST garnishment is in effect will simply lead to it more quickly being put in place if not already done.

Any advantage to waiting until after bankruptcy to file for past GST refunds?  Can my CSL be eliminated entirely by bankruptcy?  Better to take the chance and just file taxes and hope that the garnishment isn't in place yet?  Don't want to sign any CSL paperwork that restarts the 10 year wait on the loan just to get gst refunds.

Any advice?
Back to Top
Sponsored Links


Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.