Personal Bankruptcy Canada Blog » Student Loans

Student

Questions — Tue, 17 Jan 2012 19:12:40 +0000

If I am being garnished from my pay for student loans, is there anything I can do? Would a consumer proposal help? I’m being garnished 30% and am not able to pay rent this month, let alone buy food or pay any other bills I have. Any help would be appreciated.

Posted from: Ontario

Student Loans / Equifax

Questions — Mon, 09 Jan 2012 13:56:18 +0000

In short, I ceased to be a student in 2002. I have in excess of $75 000 in Canada Student Loans. I have never made a payment. My CSL accounts have been in collection since 2003. I just this evening ran an Equifax credit report in which none of my CSL debt was reported in any manner. My question is, is there a period of time in which if no activity occurs on a student loan account that the account has been “written off” and no longer persued for reclamation of monies?

Posted from: Ontario

Consumer proposal after div 1 proposal

Questions — Tue, 27 Dec 2011 12:39:43 +0000

I am currently a year from finishing a five-year division 1 proposal. Part of my debts in the proposal are student loans which will not be cleared fully by the proposal (they were 6.5 years old when i filed the div 1). Is it possible to file a consumer proposal once my div 1 is complete on the remaining student loans? If so, my student loans would at that point be 11.5 years old. Would they then be cleared by the consumer proposal? Thanks for your input.

Posted from: Ontario

Worked out of country

Questions — Wed, 30 Nov 2011 15:16:56 +0000

My student loan, as well as other credit is delinquent. I am planning on declaring bankruptcy. I have worked outside of canada for the last 5 years, am I still eligible?

Posted from: Alberta

student loan

Questions — Fri, 18 Nov 2011 19:46:14 +0000

I received students loans for school and completed the program in Dec, 2001. I filed bankruptcy Feb. 11th, 2009 and discharged Nov. 13th, 2009. Beyond the 7 years from finished program completion to the bankruptcy.
First question is, if I applied for Interest Relief for the first few years after the completion of school does this change anything, and if so, how and why?
Second question please, If I attended another college a few years after I had originally graduated, BUT paid cash (no student loan) does this change things as well? Is it not based on the last day I completed school that was funded by OSAP.

Thank you so much for your time!!

Posted from: Ontario

Mb

Questions — Thu, 10 Nov 2011 15:51:34 +0000

Is there any point in time at which a provincial and federal student loan can be included in a consumer proposal?

Posted from: British Columbia

Foreign student loan

Questions — Mon, 26 Sep 2011 21:31:17 +0000

I owe student loan to Denmark. I have recently recieved a letter from a law company here in BC, demanding payment or they are treatning with legal proceedings on behalf of Denmark.
Question; What kind of legal proceedings do they have available? The amount in question is around $ 22.000.
Thanks

Posted from: British Columbia

Ms. Kjaer

Questions — Sun, 29 May 2011 12:36:23 +0000

I have a student loan from when I was a student in Denmark that I am supposed to make monthly payments on. I cannot afford to make the payments. How can I deal with this foreign student loan when considering bankruptcy in the province of BC.

Posted from: British Columbia

Student Loans Question

Questions — Sat, 07 May 2011 09:55:05 +0000

It has been almost 4 years since I finished school. I have heard that you may apply to have your Student Loans forgiven after 5 years in the case of hardship. Since I have other debts, would it be possible for me to file for bankruptcy now, and apply for forgiveness after 5 years? Thanks in advance.

Posted from: Ontario

Student Loan after bankpruptcy

Questions — Sat, 07 May 2011 09:54:19 +0000

Hello, thank you for this blog – it is very informative! I claimed bankruptcy with 40K in student loan debt that will be discharged in November as it was greater than 7 years (12 to be exact). During bankruptcy I lost my job and as such was approved for the Second Career Program and am returning to school. The Second Career funding does not cover all my financial needs to support my family – am I able to apply for Student loans again? I am older, more mature and am not looking to fund my complete school requirements – is there a time frame for applying to OSAP after bankruptcy?

Posted from: Ontario

student loan

Questions — Fri, 29 Apr 2011 14:24:16 +0000

So I read on your site about student loans in a proposal….what I am unsure of now is whether within 7 years if the national students loans center gets a vote on your proposal?

Posted from: Ontario

Worried

Questions — Fri, 18 Feb 2011 17:17:19 +0000

I have been out of school for 8 yrs. I am recently married and a stay at home mom. I have paid off one student loan but the other was sent to a credit company and has not had a payment for 7 yrs. I have not worked since having to leave school and am supported by my husband. I have not heard about the unpayed student loan in a few years. How do I find out about this debt(not sure the company) and does my husbands income affect whether or not I can file for bankruptcy?

Posted from: Nova Scotia

American Student Loan Debt

Questions — Sat, 04 Dec 2010 05:09:28 +0000

A few years ago I immigrated to Canada from America. While I was in America I incurred a student loan debt which I can\’t afford to pay. My financial situation in Canada is very stable but I can\’t afford to pay off my American student loan debt. The US legal system will not discharge the debt and I don\’t plan on returning to America. Are there any ways I could discharge the debt using the Canadian legal system or stop the creditors from pursuing me in Canada? Bankruptcy wouldn\’t be the best option because the only debt I am trying to eliminate is the American student loan and I don\’t want my credit rating in Canada to be affected.

Posted from: British Columbia

Student Loan with a co-signer

Questions — Thu, 25 Nov 2010 18:21:04 +0000

I have a student loan which was co-signed by my common-law spouse. I am considering bankruptcy as I lost my job some time ago and am unable to find work. I\’ve been out of school for only 5 years so the 7 year rule doesn\’t apply. What will happen if I do file for bankruptcy as far as my spouse goes? Will this affect his credit, or will he be solely responsible for repayment?
Thank you for any help you can give with this..

Posted from: Ontario

student loan discharge

Questions — Fri, 19 Nov 2010 18:27:28 +0000

I was told that if I contacted student loans about my student loan debt that it would start the 7 year clock all over again is this true? My last date of study was may 1995. I filed and completed a consumer proposal in 2005, but it paid very little of my loan and the interest they tacked on for that time period is impossible. I wanted to apply for forgiveness but was told I had to have a bankruptcy lawyer. All the bankruptcy I called would not touch student loans. I want to apply for forgiveness based on hardship. What is the best course of action?

Posted from: Ontario

10 Year or 7 year rule for student Loans

Questions — Wed, 20 Oct 2010 17:42:59 +0000

How do we know if we fall under the 10 year or 7 year rule for student loans. When did the change take affect ?

Posted from: Ontario

how to know what i owe

Questions — Sun, 03 Oct 2010 15:24:44 +0000

i was forced to drop out of school in 2000. i had a s. loan from the b.c. gov.; the fed. gov. took my tax rebates in the early 2000`s. since then i have been off the financial map – not even a bank account. how can i find out how much i owe without drawing unwanted attention to myself? i`ve made very little money for years so is negotiating or bankruptcy (over 10 years now) the better option?

Posted from: British Columbia

Student Loans with the Government

Questions — Wed, 29 Sep 2010 02:56:04 +0000

I have a student loan and want to file bankruptcy, I have had the loan for at least 12 years, but now I am getting letters from the government can I still include these loans even if now they letters are coming from the Govt

Posted from: Saskatchewan

When does the 7 year rule start for Student loans to qualify for bankruptcy?

Questions — Wed, 22 Sep 2010 20:22:22 +0000

I received student loans until 2000 while I was a full time student. I left school before graduating and started working. I returned to school in 2005 to finish the last 2 courses I needed to graduate. I paid for the courses from my own pocket. I am unable to work and repay my loans..and would like to know if the 7 year rule starts as of the last day I was a part time student (even though I paid for my schooling myself) or did is start the last day I was a full time student and receiving loans? I haven`t received student loans since 2000 so would I be eligible for the 7 year rule regardless of my returning to school parttime?

Posted from: Quebec

consumer proposals and student loans

Questions — Tue, 21 Sep 2010 04:12:41 +0000

I owe 36,000.00 in Student Loans and I was wondering if I would qualify for Consumer Proposal, as I heard that I do not qualify to file Bankruptcy. I do not want to file Bankruptcy!!!
How could I make an offer to my Creditors and pay off at least 30% of this amount.

Posted from: Ontario

Question

Questions — Fri, 17 Sep 2010 05:16:03 +0000

How do you find out when you ceased to be a student? I stopped school years ago but I`m not sure if it has been more than 7 Years

Posted from: Ontario

U.S. Student Loans

Questions — Sat, 28 Aug 2010 18:20:46 +0000

I recently moved to Canada from the U.S. I plan to become a Canadian citizen when I marry my Canadian fiancee later this year. I have student loan debt from attending school in the U.S. Student loans are not dischargeable in the U.S. under U.S. bankruptcy law. I am currently unemployed or minimally employed and cannot repay the loans. They are about $60,000 (U.S. Dollars) and are over 10 years old. Are my U.S. student loans dischargeable if I file for bankruptcy in Canada? Am I eligible to file bankruptcy in Canada?

Posted from: Alberta

3 years later

Questions — Thu, 19 Aug 2010 14:54:11 +0000

I filed for bankruptcy in 2007, and I was discharged in 2008. I had student loans included in that which were over 10 years old. This year in 2010 I have a collection agency calling me non stop telling me that I am on the hook for this and that the student loan never goes away and that I have to pay it and it is staying on my credit rating. As far as I am concerned and my trustee has told me that it is over and done with and to just ignore it. Is this collection agency accurate in what they are saying, cause if so someone hasn`t done the job that I paid them to do, and if so what can I do about it? Who do I contact to get these calls stopped? Thanks for your time.

Posted from: Ontario

Lien on the house because of unpaid student loan

Questions — Thu, 12 Aug 2010 21:53:29 +0000

My husband is currently unemployed. He hasn`t been able to repay his student loan for quite some time. He stopped attending school over 7yr ago.The collection agency has taken over now and keeps on calling him saying, they`ll put a lien on the house if he doesn`t sell the house to repay his loan. The house is under both; but I actually am the one who put the down payment to get the house and always making the mortgage payments. I haven`t missed a payment and not planning on doing so. I have a steady full time job and support our family of 5. However, I cannot help out my husband with the payments to his loan. I worked so hard to get this house and now to think that a lien can be put on it, makes me very angry and desperate. Can they actually put a lien on the house? I`ve been told I cannot remove my husband`s name from the title as I would have to refinance the house. I cannot refinance the house because my income is not enough to do so. I don`t know what else to do. My husband wants his name off the title to avoid the bank to put a lien on the house for he knows what this house means to me and our family. we don`t know what to do. He keeps on looking for josb with no luck still.

Posted from: Alberta

Canadian Student loans

Questions — Mon, 24 May 2010 15:18:27 +0000

I have not attended school since 1997. I Moved to the States immediately following school and still reside in the US. I have over te year made very minimal payments since I do not make much money. I never even covered my interest. I have not made a payment since 2004 and have been serve documents stating immediate payment is due (approx $20,000 Cdn). There is no way possible I can pay this. I live in Michigan which has been hit extremely hard and I am lucky to have the low paying job that I do have. What are my options? Is filing for bankruptcy in Ontario and option?

Posted from: Ontario

Student loan

Questions — Thu, 06 May 2010 16:30:27 +0000

Here is my situation: I finished school in the summer of 1997. I filled for bankruptcy February 2002 and was discharged in 2003. I was able to make payment arrangement with government few times in the last ten years. Needless to say that I was only covering the interest cost. In March 2010 I lost my job stopped paying and the government is inquiring. What would be my option I am not sure if the new LAW benefits my status. To add to this , I went to see a lawyer and he advised me to file for another bankruptcy which I found very akward. Currently I have some outstanding credit debts and my only income is from EI benefits….any help is much appreciated.

Posted from: Quebec

Who informs the collection agencies?

Questions — Wed, 31 Mar 2010 19:59:02 +0000

I am being harassed by a collection agency, whom I have told that I may have to file bankruptcy because I just can`t pay these like they would like. She was quite rude and to the point when she told me that every student loan this is included in a bankruptcy…when discharged ALWAYS goes back to the collection agency…my question, how is this possible and what can I say to her if she is incorrect?

Posted from: Alberta

Consume proposal and student loans

Questions — Sun, 14 Mar 2010 17:51:25 +0000

Do I have been out of school since 1999. I owe over $30,000 in student loans which I am unable to repay. I don`t want to file for Bankrupcy. Is a proposal an option for student loans.

Posted from: Ontario

Student Loan Legislation

Questions — Mon, 08 Mar 2010 18:56:08 +0000

I am preparing to file bankruptcy early next month. My end of study date is August 2002. This morning I spoke with a creditor who said the new 7-year rule is for loans taken out after the legislation was enacted so my loans would not be discharged as I would still be held to the 10 year end of study date rule. This is not what I have been led to believe. Any advice would be appreciated.

Posted from: British Columbia

What exactly is `Ceasing to be a Student`?

Questions — Fri, 18 Dec 2009 10:55:39 +0000

I finished my undergraduate degree in 2000, and then ceased to be a student for one year; in 2001 I went back to graduate school and just finished everything this year (without taking any more loans since my undergrad days). Can I get rid of my student loans by bankruptcy? And, more generally, what are the rules for `Ceasing to be a student for more than seven years`? Does it mean that you have been a non-fulltime-student for a total of 7 years since your last student loan? Seven consecutive years? What? Thanks.

Posted from: Nova Scotia

Question

Questions — Fri, 18 Dec 2009 02:02:06 +0000

What exactly constitutes being `out of school` for 7 years. Does this mean full time post graduate education in an accredited school in Canada?

What about part time studies?
Does studies abroad count?

Posted from: Ontario

hardship rule

Questions — Tue, 15 Dec 2009 15:26:57 +0000

hi there,
can you please provide a link with information on the five year hardship rule? i will be eligible for this in approximately one year with well over 40000$ in student loan debt and a salary of just over 30000$ but i cannot seem to locate the conditions of this rule. if you could post the link or even provide the details of the rule, it would be greatly appreciated. thank you.

Posted from: New Brunswick

Loan Default question

Questions — Fri, 11 Dec 2009 19:10:17 +0000

I received Canada Student loans that I was to begin repaying in November 1996. I have not made a payment since at least 1999, if not longer before that. Is is still out there?

Posted from: British Columbia

7 and 10 year rule – clarification

Questions — Fri, 11 Dec 2009 13:06:31 +0000

On you website I read the following:
`Breaking News: New Bankruptcy Laws Are Scheduled to Come into Force on September 18, 2009
`Breaking News: New Bankruptcy Laws Are Scheduled to Come into Force on September 18, 2009

Student Loans Now Discharged After 7 Years
As expected, student loans will now be automatically discharged in a bankruptcy if you have been out of school for more than seven years, as compared to the previous ten year rule`

at the same time you wrote in one of your answers: `By the way, as of July 7, 2008 the 10 years period for including student loans in bankruptcy was reduced to 7 years.`

So, my question is when the new 7 year rule about student loans came into force: in 2008 or 2009?

Posted from: Ontario

10 year rule

Questions — Wed, 09 Dec 2009 22:08:23 +0000

When does the 10 years start for bankruptcies that happened in 1992, for student loans? When you signed the papers for the loan or your last day of school. Thanks

Posted from: British Columbia

seven year period

Questions — Fri, 04 Dec 2009 00:30:11 +0000

With respect to the new laws in Bankruptcy and Student Loans- Is the seven year period from when you graduate university, or is it the date that you last recieved student Loans? In my case there is a few years difference.

Posted from: Nova Scotia

Default Student Loan

Questions — Wed, 25 Nov 2009 13:47:06 +0000

I left Ontario for Japan over 10 years ago and didn`t repay any of my student loan. Will I now be able to return to Canada and work there or will I still owe the money? How would they know?

Posted from: Ontario

The old student loan

Questions — Wed, 18 Nov 2009 06:42:59 +0000

Hi I had a student loan in 1991 and moved abraod and didn t pay it.. What happens if I move back to Canada? Is the loan still `live` or has it been dissolved due to non payment over such a long time?

Posted from: Manitoba

Scotiabank letter

Questions — Thu, 29 Oct 2009 14:52:08 +0000

I declared bankruptcy last month, and my end of study date is May 31, 2002.

I received a letter from Sciotiabank this morning stating that they have received notification of my bankruptcy.

In the letter it states, `since June 18, 1998, student loan debts are not extinguished through participation in bankruptcy unless seven years have elapsed since the borrower ceased to be a student. Therefore, your student loans will survive bankruptcy and will not be released by an order of discharge.`

I have not taken any courses since May 2002. Before declaring bankruptcy, I asked for and received a letter from the National Student Loan Centre stating that my end of study date was May 31, 2002. Is this a form letter that Scotiabank sends to all bankrupts with student loans?

Posted from: Ontario

Garnish wages for student loans in New Brunswick

Questions — Mon, 28 Sep 2009 23:45:18 +0000

I`ve been contacted by a collection agency for a CIBC student loan in 1997-98. They will not accept a payment plan and want me to open an account with CIBC and have my payroll cheque deposited there every two weeks. After this is done they `may` decide to talk about a payment plan but they would not say this is guaranteed. I`m afraid to do this as they may take my full cheque and I`m scared of that happening. Someone told me that in New Brunswick the only entity that can garnish your wages was Revenue Canada. Is this true? Or can the collection agency do it as well? They also mentioned that if they did proceed with the garnish I would lose 33% of my cheque every two weeks. Can they really take that much?
A sidenote here…I received a statement from them about a month ago saying that my debt was cleared and the balance owing was $0.00 but they claim it was a mistake and they would not honor the statement. Can this paper work for me?
Any help you can provide would be greatly appreciated. Thank you!

Posted from: New Brunswick

Student loans and garnishment

Questions — Sat, 26 Sep 2009 17:12:30 +0000

Can overdue Student Loan Collection Aggency Garnish my wages??
Just recently contacted about an overdue student loan debt from collection agency, she is unwilling to negotiate a payment plan.

Posted from: Ontario

Student Loans

Questions — Tue, 22 Sep 2009 17:15:58 +0000

I have been out of school/university for 4 years this August 2009. I have been working in odd jobs that have nothing to do with my degree and have been tight for cash ever since. I haven`t been able to go and finish my degree because the costs are too great for my situation and I have credit card debts that exceed 30000. I have been laid off and was thinking of going to school for second career (It would allow me to gain a diploma instead of my highschool diploma skillsets currently). For me to undetake this task I would also file for personal bankruptcy. My question is … 1. would I be able to include my student loans since they would be just over 4 years but not the required 5 with hardship being my reason. Also, if not and i enroll in school/college under second career and then file for bankruptcy just after the 5 year period out of being in university. Woudl I be able to include my student loans?

Posted from: Ontario

Intrest on student loans

Questions — Thu, 03 Sep 2009 16:35:52 +0000

When a student loan goes to collections is interest still applied till it`s paid off? My understanding was RBC sold their student loans to collections. Would that not make the loan null and void being that I never signed for the loan with the collection but with the bank that no konger owns the loan.

Posted from: Alberta

student loan

Questions — Tue, 01 Sep 2009 00:29:59 +0000

I took several student loans for my first degree, which I graduated with in 2002. I subsequently returned to school for a second degree. I did not take any loans for this second degree, but my first loans remained in a non-payment status because I had returned to school. I graduated with my second degree in 2009 and have been making payments ever since. I am now looking at declaring bankruptcy. Will my student loans be covered by my bankruptcy?

Posted from: Manitoba

Student loan debt

Questions — Thu, 20 Aug 2009 18:03:03 +0000

i have a student loan from 1992. i haven`t made a payment on the loan since 2005 because i haven`t been able to. i used to receive statements from some government agency monthly, but i haven`t received anything in almost a year now. i don`t want to file for bankruptcy as i`m just now starting to get my feet on the ground again. what would be the status of the loan now? and how do i deal with it from here? thanks

Posted from: Ontario

Favoring Creditors/ Government Student Loan

Questions — Sun, 16 Aug 2009 15:17:54 +0000

I have recently (within the past 3 months) made some large payments on my Government Student Loan, and paid it off. If I file for brankruptcy, would this be considered `favoring a creditor?` Would th payments be reversed and distributed among all the creditors? I know they would be if it were any other creditor, but how about the government loan, since it`s different, and it wouldn`t have been erased in a bankruptcy? What if the payments were more than 3 months ago…

Thanks.

Posted from: Manitoba

7 year rule

Questions — Wed, 12 Aug 2009 21:27:50 +0000

I have been out of school for longer than 7 years. I want to take some high school upgrading courses. Will this set the clock back to zero regarding the 7 year bankruptsy rule?

Posted from: Alberta

Tamara

Questions — Mon, 03 Aug 2009 23:01:09 +0000

How does a consumer proposal affect student loans? In a debt settlement, is there any protection like that of a consumer proposal? can I be sued for the unpaid debt?

Posted from: Ontario

Student Loan and Divorce

Questions — Fri, 17 Jul 2009 23:45:56 +0000

My wife took out a Canada student loan while we were married (I didn`t sign anything) Now that we`re filing for divorce, will I be responsible for the loan repayment?

Posted from: British Columbia

Definition of Return to School

Questions — Fri, 10 Jul 2009 21:49:07 +0000

Hi there. I finished all of my Masters courses years ago. Never defended my thesis. To do so. I would be registered for one week, yet not attend any class. Only a defense. Would this one week affect the date of bankruptcy for student loans?

Posted from: Ontario

Outstanding loan

Questions — Tue, 07 Jul 2009 19:37:37 +0000

Hello,
I have a serious problem. I have been out of school since 1999. I have paid what I could when I could. The amount of my Canada student loan is $18,000. My income tax return is/has always been taken for years. My loan has gone to a collection agency who are threaten to garnish my wages. What can I do as I cannot afford to pay.

Posted from: Ontario

Student Line of Credit is co signed by parents…

Questions — Tue, 07 Jul 2009 03:49:29 +0000

First of all if I was to do a Consumer perposal would an SLC fall under that? And what would it do to my parents if it does?

Posted from: Ontario

school and student loans

Questions — Fri, 03 Jul 2009 20:09:35 +0000

I have student loan debt from 10 years ago and have defaulted on that loan. I have been to school since, funded by service canada, and am returning September 2009 on my own finances. How does this work with the 7 years out of school to file for bankruptcy? Does it relate to the the original time I attended 10 years ago and got the student loan?

Posted from: Newfoundland and Labrador

Declaring Bankruptcy on Student Loans

Questions — Tue, 02 Jun 2009 18:54:28 +0000

I am currently $60,000 in debt from Cooking school in 1998 and University in 2007. I currently make $24,500 a year, and between my federal and provincial loans, my monthly payment is $520/ month (ammortized over 175 months).

I was unable to keep up with the payments since graduation, and have had interest relief several times. I am currently on my last term of regular interest relief and don`t know what I will do in November when the full payment comes up again.

Is there anyway to declare banruptcy on student loans if it has been less than 7 years? What does the goverment do if you are unable to make the full payment, but you are out of interest relief options? Thanks so much!

Posted from: British Columbia

Canada student loan-default

Questions — Tue, 19 May 2009 21:08:20 +0000

Does the student loan default legislation distinguish between part-time studies and full-time studies? How about graduation date, or whether I have graduated?

Posted from: Ontario

Mr

Questions — Sun, 17 May 2009 05:01:12 +0000

I am 55 years old, passed more than 7 years i left the university and still I am unemployed without any source of income except the small salary of my wife which in the minimum wage and not enough to make any repayment of the student dettes non for me niether for her.

What to do and how to be with the Quebec student dettes ?

For how long still the gouvernment can run after us where We are unable to make ant payments and can not get any improvements with the employment ? Thanks a lot. Montreal, QC

Posted from: Quebec

Define `Student` Loans?

Questions — Mon, 04 May 2009 21:25:51 +0000

I have OSAP and RBC student line of credit. The RBC LoC does not list as a `student` LoC on my statement. Is the RBC debt considered a `student loan` under bankruptcy?

Thanks

Posted from: Ontario

bankruptcy and returning to school

Questions — Fri, 01 May 2009 13:03:20 +0000

I graduated from University in May, 2006; and my last student loan/full-time student study period was the 2005-2006 school year. Now due to the economic downturn and losing my employment; I hope to return to school for a few classes as a full-time student from May to December 2009; and this period would be self-funded (no student loan). Would Returning to university re-set the clock on my ability to declare bankruptcy on my current student loans? Would I be able to declare bankruptcy on my student loans in June 2011? Or would I have to wait until either June 2013 or December 2017? What about default; would I be able to have my student loans discharged (at the applicable time) if they are in default?

Posted from: British Columbia
June 2011? Or would I have to wait until either June 2013 or December 2017? What about default; would I be able to have my student loans discharged (at the applicable time) if they are in default?

Posted from: British Columbia

student loans

Questions — Mon, 13 Apr 2009 19:38:31 +0000

Once your loan has been sent to a collection accency, is it still considered a student loan? I was just wondering in case i had to file for bankruptcy? Thank you

Posted from: Ontario

Confused about the new Student Loan Laws

Questions — Mon, 30 Mar 2009 18:22:25 +0000

I had a student loan which is now over 10 years old. I have not been able to find out any info on my loans as I am always told by the bank, osap, collection agencies (who call me in regards to my loans) and the national student loans centre that they have no record of me or my loans. I have since moved to Alberta and started a new career. I am now pondering bankruptcy to get a fresh start as I am having a great deal of problems with keeping up with my debts. I have attended school twice since moving to Alberta for apprenticeship training (a period of 10 weeks each time) and my employer has paid for me to attend the training. How would this affect me if I claimed bankruptcy with regards to the new legislation which came into effect for student loans?

Posted from: Alberta

Student Loan dilema

Questions — Tue, 24 Mar 2009 22:31:01 +0000

Hello,

My common law husband is filing for bankruptcy due to a large amount of debt. His income is the only income we have as I stay home with our children. Our monthly income is below the allowable banruptcy limit and we have no surplus. Currently we barely have enough income to cover rent, food and bills each month and literally have less than $50 left at the end of the month. I have a student loan I have been paying on for years with an insane interest amount because it is now in collections (has been for years). I pay $250/mo and most of that is interest. It has taken me 7 years to get it from $12,000 to the current amount owing of $6100. I can not afford these payments anymore. Would it make sense for us to just declare joint bankruptcy? The loan is all the debt I have and my credit is already horrible. I just don`t see myself ever getting rid of this loan another way. please advise.

Posted from: Alberta

Alberta Student Loans

Questions — Wed, 18 Mar 2009 00:38:57 +0000

As the student loans I`ve received came in two parts – one part from the Gov`t of Canada and the other from the Province of Alberta – I was wondering if the existing, as well as new regulations surrounding bankruptcy and student loans applies to both parts of my overall student loan debt. Thank you for your time and I look forward to hearing back on this issue.

Posted from: Alberta

can I file bankruptcy and still attend college?

Questions — Thu, 26 Feb 2009 04:39:46 +0000

I attended College on and off since 2001. During that time, I went through a costly divorce, serious illness that prevented me from working( I was not on disability due to the fact that my ex was ordered to pay spousal support and is still paying). I attempted to get my RN degree, but could not complet this and now am feeling better enough to attend college again. My problem is that I have over 16,000 in student debt and have become insolvent with no assets. I would like to return to college and would like to know if I can attend college while in bankruptcy. Any extra money I have would go towards my tuition and was told by someone that I may not be able to do this. I find myself in a catch 22 because I need to get an education in order to make ends meet and support 3 children. Would I have to wait until the bankruptcy is discharged before I return to college, or can I use the extra money to get my degree? Also, what would happen to the current student loan I have from 2001?

Posted from: Ontario

Studend

Questions — Thu, 19 Feb 2009 20:43:58 +0000

I am considering bankruptcy. I am a university student with debt on my shoulders, currently in my second year of studies and I have two more years to go.
I want to file for personal bankruptcy, but I don`t know how that is going to affect my student loan from OSAP. Currently I don`t have to start payng it back until I have finished school. Thing is I don`t care if I get discharged on my student loan or not. I just need to know that I won`t have to start paying it back before I finish school. And, if I file for bankruptcy now, but need money from OSAP to pay for my 3rd and 4th year, will they give me the money? Thank you.

Posted from: Ontario

Sleepless in St. Catharines

Questions — Wed, 11 Feb 2009 23:59:41 +0000

Hi,
It`s been 10 years since I graduated (October -1999). I have been unemployed for 5yrs and on disability (ODSP) for about three years now. I also have three disabled children. My point is I am unable to pay back my student loans and have not been financially able since graduating due to the fact my employment field only hired part time in that decade (nursing). Other than the student loan I have very little debt. Am I able to file for bankruptcy, and what is the likelihood of the loans being included and dealth with, or do I need to wait until after October of this year? I would love a `clean slate`.
Thanks,
Sleepless in St. Catharines

Posted from: Ontario

Going back to school, filing for bankruptcy, will student loan be taken with other debts?

Questions — Mon, 09 Feb 2009 08:13:29 +0000

I am a single mother to a 7-month old baby boy. I am considering to file for bankruptcy, since all my bills are too much for me to handle being in this expensive province and all.
I want to do better for my son`s future and am wanting to go back to school to get a better career.
Because I can`t pay for school by myself I`ll need funding assistance from the government (student grant/loan), so that I will get help paying for my course, which is 9 months, paying for rent and living needs for my son and I.
Will this student grant/loan have to be included when I file for bankruptcy? Will it also be discharged along with my other debts? How will it affect my credit later in the future for my son and I?

Posted from: British Columbia

stop the collection adgency from harrassing me about student loans

Questions — Fri, 16 Jan 2009 19:57:25 +0000

I have 2 student loans from 2001 which I kept in good standing untill 2006. One is with NSLC and the other with my bank.. I now make payments with one company while another collection adgency is trying to get money. what can I do to stop the collection adgency from harrassing me?

Posted from: Ontario

How returning back to school affects bankruptcy.

Questions — Thu, 15 Jan 2009 03:53:31 +0000

I graduated in 2002 with $35,000 in student loans. I returned back to school for only a semester in the fall of 2006 and received an additional $6000. Can I declare backuptcy this year (since 7 years have passed) for the amount incurred in 2002? Or does my return to school deny me this opportunity until 2013?

Posted from: Ontario

bankrupt betty

Questions — Wed, 31 Dec 2008 02:26:22 +0000

Hi there,
I have student loans that are over 7 years old and some that I took out in the past 7 years. If I declare bankruptcy will my older loans be discharged?
Thanks for your help.

Posted from: Ontario

Need advice, should I file for bankrubtcy again

Questions — Tue, 30 Dec 2008 16:33:20 +0000

I stop my studying in 2001, and filed for bankrubtcy. and discharged. I am paying small monthly payment for ontario s.l ,and also I was paying to hrdc collection for canada s.l, until the changed the collection procedure. now i don`t pay for federal s.l, and collection agency were calling untill last coupple of weeks.
Could you please give me some advice about my s.l status. should I file for bankrubtcy again to clear my s.l, or they will be write off by the both government. as I still can not affort to pay the required monthly payment.
Thanks.

Posted from: Ontario

Student Loan – Bankruptcy

Questions — Fri, 26 Dec 2008 18:39:51 +0000

I will be graduating from UofT this spring, along with inheriting a $25 000 debt. In September, I am moving to Europe to do an internship for 6 months. My plan is to stay there after the internship and get a full-time job. Since the salaries over there are in the range of $200-500 per month, there is no way that I can make my monthly OSAP payment, of roughly $500.
So, I am considering filing for bankruptcy before I leave. What would be your advice on this?
Thank you for your time.

Posted from: Ontario

Student Loan concern

Questions — Wed, 17 Dec 2008 06:46:55 +0000

Are student loans from a bank or financial institution treated the same as federal and provincial student loans in terms of the 7-year discharge?

Posted from: British Columbia

Is it true not all student loans are cleared in bankruptcy?

Questions — Tue, 09 Dec 2008 04:49:09 +0000

I was told by some one that not all the student loans are cleared in bankruptcy.
Is this true?
I guess the difference was federal and provincial.

Thank you

Posted from: Ontario

Student Loans Defaulted

Questions — Thu, 04 Dec 2008 15:40:53 +0000

My wife incurred quite a large amount of student loans about 13 years ago, before we were married. Recently after attending school the loans went into default, and have been in collections ever since (approximately 12 years now).

We are making the minimum payments on her loans, yet still receiving annoying and threatening phone calls from the collection agency. Since this is her only debt aside from a $300.00 credit card debt, and she has no income (we are a single income family with my income alone). Is bankruptcy a viable solution to resolve these old student loans? Are there perhaps other alternative solutions?

Any information you could provide would be greatly appreciated. Many thanks in advance.

J ~ Ontario

Posted from: Ontario

Bankruptcy

Questions — Tue, 02 Dec 2008 00:43:35 +0000

Has the bill enabling student loans to be applied to bankruptcy been passed yet, I was under the understanding that it would be passed this fall. Please respond.

Posted from: Ontario

repayment of student loan

Questions — Mon, 01 Dec 2008 00:11:21 +0000

I have approx 18,000 in student loans and a 13.00 hour job. My rent is 500.00 a month not including utilities. I can afford 200.00 a month in repayment to OSAP but they are refusing to accept this. I have just finished school approx 9 months ago. I have not defaulted or ignored these people, and don`t know what else to do…Can they legally refuse my payments?

Posted from: Ontario

Can I get Student loan after bankrupty??

Questions — Sun, 23 Nov 2008 18:07:58 +0000

Hi:

I discharged in July 2008 and pay back student loan to the governments now(both ontario and canada..because they r not over 10 years)

I am planning to go back to school Next Sept 2009…Any problem getting OSAP from the government?? thanks.

Posted from: Ontario

Student loan

Questions — Sat, 22 Nov 2008 21:56:42 +0000

i guess my question is since the laws have changed, if my loans are more than 10 years old….and i have not filed for bancruptcy does the government write them off after a certain point or does it last forever ?

Posted from: Alberta

Student Loans

Questions — Thu, 20 Nov 2008 13:54:11 +0000

I declared bankruptcy 5 years ago and finished school over 8 years ago, paid off one of my student loans however since the bankruptcy I now have a collection agency chasing me for the other one, I should note that I am not discharged either as I have not been able to afford the 1900 dollars to receive the discharge. Does this student loan come after me forever or are there time limitations of any sort?

Posted from: Ontario

am I able to get my student loan included in my previous bankruptcy

Questions — Thu, 20 Nov 2008 13:33:25 +0000

Hi, I declared bankruptcy in year 2004 and was discharged in 2005. It has been 7 years since I have been out of school, so am I able to get my student loan included in my previous bankruptcy?

Posted from: British Columbia

5yr hardship rule

Questions — Thu, 13 Nov 2008 21:38:14 +0000

If a student loan can be included in bankruptcy after the 7yr time has elapsed, can it be included if you qualify for bankruptcy under the 5yr hardship rule or does 7yrs absolutely must have gone by? Thanks

Posted from: New Brunswick

Married People and Loans 7 yr rules

Questions — Thu, 13 Nov 2008 04:19:24 +0000

I am paying off a student loan and down to three more payments and it is paid up all my loans will have been paid this year. I negotiated the first one with a lump sum payment, then the current one I did the same and should be done about Dec 2008.

Will this improve my credit rating and how, do I have to send equifax the proof or does student loans do that.

My wife also has one about 10,000 and gathering interest daily. Do credit ratings only affect individuals or do they affect a married relationship, can she apply for the 7 year rule if I am working. I believe that we need to the extra funds and can use them instead of paying them off. This would give us a good start.

Please inform.

Almost done the debt in Saskatchewan.

Posted from: Saskatchewan

Studies End in `99 – dishcarged from Bankruptcy in `04

Questions — Thu, 13 Nov 2008 01:55:15 +0000

I owe in excess of $50,000 dollars in Student Loans – to 3 different agencies (my provincial and federal loans were split amongst 3 groups).
This is after being discharged from a bankruptcy in 2004.
The minimum monthly payments, collectively are almost $1900 and far exceed my ability to pay and I barely cover interest while the loans grow bigger and bigger in amount.

One of the loans is in collections because one of the agencies came for the full amount ($8500) just after my bankruptcy and I was unable to repay the loan in FULL.

As such my ability to renew credit or to get a loan to assist with repayment has been to no avail – I was even turned down for a SECURED credit card because of these circumstances!

I am not able to borrow or involve family or anyone to assist in this matter and I just became aware of the legislation passed in July `08.

I completed my fist degree in 1997 but finished my last ‘professional’ degree in 1999.
I am very confused by the timing of all of the legislation which has changed several times over the last decade and a half.

With news of this new legislation from this past summer (July 8, 2008) I am asking if my trustee can help, if I should get a new lawyer or if I may be in some sort of position to have my situation salvaged and amended in some fashion. I am stressed, depressed and looking for answers. Thank you for providing this page and outlet of information.
Sincerely,
Mid thirties male from Toronto.

Posted from: Ontario

paying on loans

Questions — Wed, 12 Nov 2008 17:31:40 +0000

I am going to be eligible for bankruptcy to include my student loans in two years. My question is, after reading some of the blogs on your site, will I still have to pay back the student loans? In reading, its my understanding that I will still be responsible for them once my bankruptcy is complete. Is this the case? If it is the case, what is the point in including student loans in bankruptcy to be forgiven (or wiped out or whatever you want to call it) if you have to pay it back in the end? This doesn`t make any sense to me and if you could clarify this it would be great because why bother declaring bankruptcy due to student loans if one still has to pay them back in the end?

Posted from: New Brunswick

bankruptcy in 2006 and still owe money in student loans

Questions — Tue, 11 Nov 2008 18:50:58 +0000

I CLAIMED BANKRUPTCY IN 2006 , I HAVE RECEIVED NOTICE THAT I OWN 45000 IN STUDENT LOANS. I AM NOW PAST THE 7 YEAR MARK SHOULD I CLAIM BANKRUPTCY AGAIN. MY FINANCIAL SITUATION HAS NOT CHANGED.

Posted from: Ontario

forever debt

Questions — Tue, 28 Oct 2008 19:09:02 +0000

I finished school in may 1995. tried to negotiate got nowhere. did consumer proposal in 2001 which was completed oct 2006. Trustee said it was all clear now..until the ARC started calling. I have a seasonal business, single mom and family to support. went to another agency to declare bankruptcy. They said i didn`t have to, but the trustee that handled consumer proposal said i do. The gov slapped 3,000 interest on my loan for the duration of my consumer proposal and i can never get out from underneath.

Posted from: Ontario

New laws

Questions — Mon, 27 Oct 2008 14:59:21 +0000

Hi there.
I have a couple of student loans that were accumulated over several years. I went to school for one full year and finished in 2002, which would mean it would be almost eligible for bankruptcy. I returned to school in 2005 but was there only two months as I was not given the funding to complete the programs. The issue that I am having is not that interest relief has ended, but that there has been a stop put on my eligibility due to a loan that was apparently taken out by me, but have no record of. Is it possible, in any way, due to the short length of time in 2005 that I attended classes, to apply for bankruptcy? There is no way I am able to afford to pay the amounts they are asking and I have no desire to have collection agencies calling and harassing me due to the fact that they will no longer give me interest relief even though I am still eligible. Please, please, please….can you offer any sort of solution or alternative?!

Thank you very much for your time and effort in this matter.

Posted from: New Brunswick

7 Year Rule

Questions — Fri, 17 Oct 2008 14:46:16 +0000

The last student loan I recieved was in 1999. I did return to school in 2000 and graduated in 2003. From 2000–2003 I did NOT recieve a student loan but was funded by the government through EI. Will the 7 year rule start from 1999 since that was the last time I recieved a student loan?

Posted from: Newfoundland and Labrador

Bankruptcy with two set of student loans

Questions — Tue, 07 Oct 2008 00:26:06 +0000

I`ve recently claimed bankruptcy and have two set of student loans, one for when I went to school in the late nineties and finished school in 2001 and the other when I returned to school in 2004 for a one year program. How will the government treat my loans? Will my first set of loans qualify for the 7 year rule or will my return to school in 2004 cause the 7 year rule to not apply?

Posted from: Ontario

Bankruptcy before the new regulation

Questions — Sun, 05 Oct 2008 10:19:38 +0000

Hello,

I got my degree Dec 2001 and May 2002 I have filled for bankruptcy. I was discharged 9 months later, but at the time, my student loan was not covered by this.
In 2006, a collection agency was charged to collect the money I owe.
Is it possible under the new legislation to include the student loan in my 2002 bankruptcy? What should I do, because I`ve worked hard to rebuild my credit, but the student loan is still a major issue in my credit file.
Thank you.

Posted from: Ontario

Is my student loan retro-active?

Questions — Thu, 02 Oct 2008 01:25:45 +0000

I filed bankruptcy in Sept 2007 and was discharged June 2008. It has been 7 years since I have been out of school as of June 2008. My question is can I get my student loan included in that bankruptcy?

Posted from: New Brunswick

discharge from a student loan that survived bankruptcy

Questions — Tue, 30 Sep 2008 01:10:15 +0000

What does it take to be discharged from a student loan that survived bankruptcy?
How do I find a free lawyer help to file for a discharge from a student loan that survived my bankruptcy?
Beata

Posted from: British Columbia

no where else to turn

Questions — Mon, 29 Sep 2008 06:07:39 +0000

I was attending NAIT from sept. of 1990 to may of 1991. My last day of classes was May 3 1991.I declared bankruptcy on May 30 2001. Now canada student loans is hounding me again because they say that 10 years was not officially over. I cant get my original trustees to help me because they are no longer in business and the company that took over their accounts wont help. I cant file the forms to go to court on my own and I cant seem to find anyone that is willing to help me. Where can I turn?

Posted from: Alberta

I`m paying back student loans but colection agency says its not enough

Questions — Tue, 23 Sep 2008 00:17:14 +0000

Hi there
I`m paying back my canada student loan to a collection agency called Alliance one. I`m trying to be cooperative to the agent thats handling my account. I`ve told him that I can only pay $200 for the first month and will pay a little more when my financial sitiuation is better. He disagreed and expects me to pay $600 to $700, which is outrageous. I won`t be able to survive on my paychecks if 30% is going to one payment. I was wondering if collection agencies could take me to court or garnish my wage if I don`t pay the amount they requested? If I do go to court can they charge me for legal fees too?
Thank you for your reply!

Posted from: British Columbia

Post Bankruptcy Student Loan repayment – Collection Agency

Questions — Sun, 14 Sep 2008 22:11:54 +0000

My trustee was discharged earlier this year, and in June my bank who has held my student loans contacted me to commence repayment. I was presented with my options for getting the loans back into good standing, paid the interest for my provincial loan and made three consecutive monthly payments against my Federal loan. Imagine my surprise, when two weeks ago I received a call, and then a letter from a collection agency indicating my student loan was with their office. Apparently the guaranteed portion has been sent from HRDC – but I had never received any information from HRDC indicating that they held a portion of my student loans. Is this legal? Can student loan debt be transferred to a collection agency without you being contacted first to attempt to make repayment?

Posted from: Ontario

Five year student loan period

Questions — Thu, 14 Aug 2008 22:37:12 +0000

How does the court decide whether or not to include student loans in a discharge that will fall under the 7 year limit, but greater than 5 from the end of study date?

Posted from: Ontario

New 7-Year Rule

Questions — Thu, 14 Aug 2008 19:40:08 +0000

The 7-year anniversary of my end of study date will fall within my bankruptcy period prior to the planned discharge date? Will they be included?

Posted from: Ontario

Student Loan 7-Year Period

Questions — Thu, 14 Aug 2008 04:35:03 +0000

My bankruptcy/planned discharge date will fall within 6 months of my 7-year out of school period. What are the chances I can include the student loans, retroactively or otherwise?

Posted from: Ontario

hardship

Questions — Mon, 11 Aug 2008 22:12:30 +0000

i am currently considering separating from my common law partner; this will cause a significant financial strain as he make 3 times as much as me and the cost of living here in really high. I have student loans that will reach 7 years old in May 2009.

I understand that i may be able to have these included in bankruptcy due to financial harship. How does claiming hardship work? Does the trustee do it or do i need to get a lawyer.

Posted from: Alberta

can I declare a student loan in a consumer proposal and wht is the best route for me

Questions — Mon, 11 Aug 2008 17:21:45 +0000

I have an old student loan that is haunting me for over 10 years now.. I am a single mother that is on a limited income with a full time job and starting to rebuild credit (slowly)
I am looking at clearing this old debt up by either a consumer proposal or bankruptcy. First, can I declare a student loan in a consumer proposal and if so, is that the best route for me?

Posted from: Ontario