Describe your Debt Load! - Negotiating Student Loan Debt?

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Negotiating Student Loan Debt?

Printed From: CanadaStudentDebt.ca
Category: Other Topics
Forum Name: Describe your Debt Load!
Forum Description: Post stories of your debt and how it affects you and your family
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=7262
Printed Date: 26/March/2026 at 8:48pm
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Topic: Negotiating Student Loan Debt?

Posted By: angelarose
Subject: Negotiating Student Loan Debt?
Date Posted: 16/June/2017 at 2:14am

I graduated 6 years ago, and have been on the RAP program and have made 0 payments to my student loan. I have someone who is willing to pay off my student loan in one lump sum payment, but wants to negotiate it down. I've called NSLC, to gather information and they said that Resolve Corp only processes the applications, but the goverment sourced and owns my debt.

But from my research Resolve Corp/DH purchases loans, and I believe they own my loans? I've made some calls but haven't gotten anywhere.

Anyone know anything about negotiating a student loan? I figured to them I'm giving them nothing, the government is current paying on my behalf so I feel like I might have some leeway?

Thanks!

Replies:

Posted By: SolveStudentDebt
Date Posted: 16/June/2017 at 7:20am

Your loan is not "sold" to the service provider. It is a Crown debt and it will always be a Crown debt. The government of Canada doesn't sell it's accounts to debt buyers, or anyone.

If you want to make an offer to settle the student loan then you have first have to give them (Social Development Canada, and it's Ministry) a really good reason to do it. If the loan was in default, and your circumstances warranted a settlement, then it would a lot easier. However, they may just say no because you are on RAP, and there is no reason to settle. If you are experiencing hardship with extenuating circumstances and can give them that "reason" to settle while the loan is active and in good standing, then you can certainly approach the government.

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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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