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 LockedBankruptcy in 07 and student loan problems now

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Catlover View Drop Down
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    Posted: 16/October/2009 at 11:06am
I have declared bankruptcy in 07 on credit card debt which I incurred because I used most of my  income to pay student loans.
My last study end date was August 05 and my SLs (total over 50k) survived bankruptcy. My income hovers around 35k and I am unable to make the minimum payments required. I am paying whatever I can.
My question is: Can I have these loans written off as part of my bankruptcy  in 07 once 7 yrs have passed from my last study end date?
I am having a hard time and any info and suggestions would be very much appreciated. Thank you.
 
 
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administrator View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 17/October/2009 at 5:10am

Make sure you calculate the 7 years correctly as its 7 years from the end of the month of the time you graduated.... or something like that....  You should need to talk to your original trustee about his. 

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Mark OMeara
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Catlover View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Catlover Quote  Post ReplyReply Direct Link To This Post Posted: 20/October/2009 at 10:20am
Thanks for your reply.
 
I will make sure I get the study end date correct. My 50,000+ loans are completely undoable on my 35,000/annum income. My minimum payments are 750 a month, which is not possible. The smaller payments I am making just go to interest, which is accumulating rapidly.
 
I hope I will be able to get these included in my previous bankruptcy, otherwise I will pay these loans until I'm 80 with the balance being the same it was today. This whole system is just so unethical and corrupt.Dead
 
I am e-mailing my bankruptcy trustee for more information.
 
Take care.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Iknowalotofstuff Quote  Post ReplyReply Direct Link To This Post Posted: 09/December/2009 at 7:53pm
Study End Date:  August 05.  The hardship waiting period is 5 years not 7.

You can make a hardship application 5 years after your end of study date at any time after September 1, 2010.  Go to the forum "Discharging Loans Under a Previous Bankruptcy or Proposal" on this website and read the posts.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 10/December/2009 at 10:46am
You can also demonstrate your hardship to the government and request removal. If there are extenuating circumstances that would warrant a review, then is it an open and shut case. You can also tell them that in your prior bankruptcy, the loan wasn't included and that you could apply to have it removed under the application of section 178.
 
Just remember though, if you are able to pay, they will examine. If you are unable to pay, they will examine that and base a decision on the severity. The government is more open-minded in regards to these matters. More so than they used to be. They key to success is to get past the contact centers and go to source. I can get you in that particular direction.
 
 
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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