$100,000.00
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=771
Printed Date: 26/March/2026 at 10:30pm
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com
Topic: $100,000.00
Posted By: techy
Subject: $100,000.00
Date Posted: 10/February/2004 at 6:26pm
I received a loan in 96 and made payments starting 6 months after I completed my course. I think I owe 7K NB Provincial and 2K Federal. I didn't make them for long maybe 6 months int total. I ran into financial difficulty and went on interest relief until I exhausted it 5 years later. I have NCO after me every month now every week and they want me to pay in 48 hours or they will put a lean on my house (which isn't much) and garnish my wages. My case has gone through many hands and I want to pay but just can't swing it right now. I am a single mother of three (the oldest has just got a job but living at home). I am hoping that when I get my kids through school that I can clear theis mess up and possibly get my credit back but that is another 6 years. Should I try and swing $25 every other week. Would this stop them putting a lean on my old home and not garnish my wages (embarising?). I am sorry I just can make the payments right now. Do/should I have to tell them where I work, what I make, my SIN # what my bills are and if I don't does this just get them more mad? Can I record their nasty calls? I haven't signed anything with them but I have tell them on the phone bi-weekly I am sorry but I just could not pay this week I will try again next week. Like many others how do we live. I now borrow money from kids that their grandparents have given them and pay them back when I get paid. Now I just tell them don't tell me when you are givin money and when you want to do something just say I have money. I ams so tired of this. Please give me some advice. I must agree with others that read this site it does help you feel a bit better. I am made to think I am the only one out there and always walk with my head down. 
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Replies:
Posted By: newf
Date Posted: 09/March/2004 at 5:21am
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Yes, it is true. My wife and I left university about 6 years ago. I have completed my bachelors degree in Econ. My wife never did finish her degree. We both have almost equal student debt. On top of the 100 Grand there is about 10 in consumer debt. We have been fighting a loosing battle for the 6 years since we left university. At the point where we turned to the Canadian Financial Wellness Group were receiving up to 4 to 5 calls from Collection Agencies on our home line per day. Add to that the 2 to 6 calls a week at our places of employment. We did from time to time make headway on this loan or that loan. The totality of it wore on us and we were never able to make headway without effecting our bottom line. Now we have a handle on all of it and we are slowing rebuilding our credit rating and are starting to get on top of it. Heck in 2 to 3 years with our current plan we will own a house. There is help out there and it does not involve bankruptcy and/or leaving the country. Ask and yee shall receive.
Ed Russell
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Posted By: kevmetric
Date Posted: 14/March/2004 at 12:47pm
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Give me a break.... $100,000 ??? And
10k on top of that ? I don't believe you can cope with that kind of debt, unless we're talking about a mortgage on a home. |
Posted By: BigFatherA
Date Posted: 15/March/2004 at 5:02pm
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Yeah, but on a mortgage you have typically a 15 - 25 year amortization period with reasonable interest rates! ------------- BigFatherA Priest & Teacher non carborundum illegitemi est |
Posted By: Bambam
Date Posted: 01/April/2004 at 12:57pm
| $100,000 isn't unheard of. My wife and I had that much student debt after we finished school, $80,000 in student loans and another $20,000 on a student line of credit. |