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Help with student loans

I graduated from university in April 2013 and was told that my 12 month payment free period would be over in November. I tried arguing many times that I graduated in April and not November as their records indicated and was told to apply for the repayment assistance program, but that they wouldn’t change the graduation date. I filled out the application, and the next letter I received was from Human Resources Canada (HRSDC) saying they were collecting my debt on behalf of the CRA. OSAP sent my loans to collections while I was disputing the graduation date…I am paying an insane 500$ a month and a creditor is still calling me asking to pay the entire loan ASAP.

Posted from: Ontario

One Response to “Help with student loans”

Doug Stuive, CA | Trustee | CIRP said...

Student loans that are less than seven years from the time of graduation cannot be included in a bankruptcy or consumer proposal filing. At this point you have no options under the Bankruptcy and Insolvency Act to help you deal with this situation. Student loans are managed under the Canada Student Loan Act.

You may wish to seek the advice of a credit counselor who may be able to act as an intermediary between yourself and the collection agency that is dealing with your student loan debt.

You may also wish to seek legal advice to see if there is a way to get the student loan department to adjust your graduation date.