Repayment Assisstance Plan (RAP) Issues - Advice on debt reduction please!

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Advice on debt reduction please!

Printed From: CanadaStudentDebt.ca
Category: Government Program Problems
Forum Name: Repayment Assisstance Plan (RAP) Issues
Forum Description: Rules, regulations and problems (Formerly Interest Relief and Debt Reduction)
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=2473
Printed Date: 27/March/2026 at 2:02am
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: Advice on debt reduction please!

Posted By: jacke
Subject: Advice on debt reduction please!
Date Posted: 31/March/2005 at 8:38pm

Hi everyone, quick question; just because I do qualify for debt recuction, SHOULD I apply for it? I am not talking on an "ethical economic and societal duty" standpoint, but I mean will it have a detrimental effect on my credit; will the banks look upon me as some pariah? They have already hurt my credit somewhat by falsely reporting late payments. How does it appear on my credit report? Any ideas? Thanks!!!

Replies:

Posted By: nago
Date Posted: 31/March/2005 at 11:37pm

yes at least try

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Posted By: momof2
Date Posted: 01/April/2005 at 7:39am

applying for and receiving debt reduction should have no affect on your credit rating whatsoever. indeed, it should halp since getting your loan reduced will decrease the amount owing and your expected montly payments thus making it easier for you to repay the loan in full.

apply and take it gratefully, many of us have to jump through hoops only to be denied and are forced into default as a result.

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