letter sent to the email addys provided

Message Topic Search Topic Options Post Reply Create New Topic Printable Version Translate Topic

   I started school in 1996 and applied for loans up until 2000 in the Information Technology sector.  I accumulated just over $30,000 in debt.  I finished school and was unable to find a job right away.  Just before my 6 month grace period expired, I was offered a job overseas as part of an internship between Memorial University and College of the North Atlantic.  I tried to get interest relief, but they said I could not apply if I were out of the Country. I receive $10000 Can for the four months, and $100 Dollars Stipend a week. Paying the amount of over $500 a month was simply out of the question.  When my internship was over, the company decided to hire me on, so I decided to stay.
I was finally on a salary and was able to start paying back my loan.  So I just wire transferred the amout though the aib bank every month. (This was great because the conversion rate was almost doubled!!)  I continued paying until downsizing eventually got me unemployed. (about a year later), so I moved back to my hometown for a while until I could get a fresh start.  After making a few calls, I found out that my cibc loan was not up to date. It was only one payment, but I was unemployed and unable to pay.  I could not get interest relief because I still owed money. (This in itself is insane, isnt the reason for interest relief is because you cant pay).  Anyways the debt started to increase and I couldn�t do anything about it.  I did finally get a job and paid them off, but it was too late for my credit. The damage had been done.  The job I worked only paid $18000 and was under contract for only a year, so I decided to go on interest relief after all the accumulating payments and interest were paid for.  After the year conract was up, I ended up on unemployment and through hrdc I was sponsored to go back to school.  I was continuing on the interest relief program and found out that I could get a schedule 2 form from my college and that would allow me to stop any payments as long as I was going to school.

So I got a form filled it out and that�s when I started to understand that there is a major problem with how student loans lenders operate.

I sent the schedule 2 form 06/21/2004 and within a few weeks nslsc/tricura canada inc. sent me the form back and said that i owed them 32.00. they told me to get an updated "schedule 2 form" along with a cheque for the 32.00 and send it back.  I did this asap becasue i did not want this to go into arrears or any extra charges to be applied.

They accepted the 32.00 based on my bank account statement. Everything seemed in order until 10/21/2004 when i receive a phone call saying that my loan account was in arrears.

I told them that i sent my schedule 2 form, and they said "we know, but we needed your original schedule 2 form and if we receive it we should (I stress the word should) be able to do something about the money that is in arrears" they told me i could fax it to 1-866-656-5639. After searching high and low and not being able to find it, i decided to call my school, and luckily enough they still had it on file.  It was faxed over 20 minutes later.  After that i called back to the nslsc/tricura canada inc. and he said that they havnt received it of yet and that i owe more money.  he said that the fax should be in, in a couple of days (i thought faxes were instant).

They finally get the fax and then they say it is unreadable, so i faxed it again and sent it through xpress post (just in case the fax was blank).  Time is of the esscence here and i need to get everything in order asap

The outstanding balance is now over $200 and i am not sure what will happen to my credit rating.  I went on interest releif and got a schedule 2 form because i couldnt afford the payments.

They expect me to pay the $200 dollars before i can apply now!
On November the 17^th , I tried telling the agents at tricura canada inc. that they srewed up, but they did not want to hear any part of it.  I started to get frustrated and rude, and finally the agent said, �Sir, we will have an Escalation Specialist call you within the next 48 hrs.�  

On November 18^th, I called them back with the same conversation that I had over the last few days.  I asked if I could speak to an escalation specialist, but no dice.  The agent then proceded to tell me that an escalation specialist was requested and that he/she would contact me.

It is now after the 48 deadline and guess what? �no call�  I knew this was going to happen.  That�s just the way they are and we cant do anything about it.(Good thing I recorded the conversation.)

It seems that everything I do and no matter how fast I try, my lenders always seem to delay something to make matters worse for me.  Everytime I call tricura canada inc. I get a different person.  Some have been arrogant and some give me hope, but in the end I always lose.  I have asked for a supervisor or escalation specialist, whatever the name, the call agents will not put me through.  It is no sense talking to the call agents because they cant do anything about my problem.  I got very stressed out and depressed for a while, so I decided to do a bit of resarch.  This is when I found this website http://www.canadastudentdebt.ca/default.asp and it has made a world of difference.  I found out that it is not only me having this problem, but thousands of other people as well and I thank you Mark O'Meara founder of Canadastudentdebt.ca. (For any of you out there who are writers, I suggest writing a book based on the information on this website, so that all of this can be exposed and laws changed.)

Ive started to record phone conversations (thanks to http://www.canadastudentdebt.ca/default.asp