Bankruptcy and Proposal Info and Issues - Immersed in the wave of debt

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Immersed in the wave of debt

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Category: Immediate Attention and Info!
Forum Name: Bankruptcy and Proposal Info and Issues
Forum Description: Get your questions answered about bankruptcy and proposals
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=778
Printed Date: 26/March/2026 at 10:30pm
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Topic: Immersed in the wave of debt

Posted By: smlaspar
Subject: Immersed in the wave of debt
Date Posted: 10/March/2004 at 7:15am

Hey there

Just been reading some of situations that people find themselves in with this student debt, I find myself in a similar pickle and now have creditors phoning me at work I have $60, 000 plus in that has gone into default at different banks like the royal, the National student loans centre and Scotia bank and have six children plus one on the way!! Reading about all the problems one encounters with student debt is scary, my way of dealing with everything has been avoidance. I know not the most mature way to handle life. I applied for interest relief and for some reason the national student loan centre stated they did not receive my application, that caused a domino effect with all the rest of my loans going into default and now I am trying to see my way through this mess, without gving up, but I don't even know whatmy first step is. I can't seem to find any info on where to start in Saskatchewan where I am from.

Advice anyone please, Helpful advise anyone PUhlease!!

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dismally_depressed_in_debt

Replies:

Posted By: Guests
Date Posted: 18/March/2004 at 4:51pm

This is a crappy situation!

Because you have loans through National Student Loan Centre, the banks cannot help you to get your loans on Interest Relief.

You need to find out what point you would need to pay the interest up to, in order to get your loans current enough to apply for interest relief.

I guess the only thing you can do is try to work with the collectors to achieve this, or remain in default on your loans.

amynic

Posted By: diana
Date Posted: 19/March/2004 at 12:41pm

That is the problem, the collection agencies don't want to work with you to achieve anything other than to pay off your debt immediately. This is impossible given the fact that loans split and I have full time and part time loans. There was a time before my loans went back to HRDC that I had five different collection agencies calling me. Now I just have three.

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diana