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
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Student Loans and Bankruptcy in Canada
Current legislation on student loans in bankruptcy and proposed law changes
News Flash: New Bankruptcy Laws Came into Effect on July 8, 2008
Does this sound like you?
- Huge student loan debt.
- Interest building up faster than you can repay.
- Considering bankruptcy to get a fresh start.
Under current law, Canadian student loan debt can be discharged in a bankruptcy, under the condition that at least ten years has passed since the individual ceased to be a full-time student. However, the new proposed rules may lower that limit; please refer to the Canadian Student Loan Bankruptcy Blog for the current status of this proposed legislation.
To find answers to your more specific questions about student loans in bankruptcy:
- Read the latest expert responses to anonymous questions on student loans below.
- Search our blog archive for "student loan" (and for other related keywords):
Read our articles about student loans in bankruptcy:
- What happens to my student loans if I file for bankruptcy in Canada
- What can I do if I can’t repay my student loans
- What are the advantages and disadvantages of student loan debt consolidation
To ask a question about Canadian student loans in bankruptcy:
- Post an anonymous question about student loans to our blog.
- Email your question to a bankruptcy trustee in your area, who will be glad to respond to your individual situation.
You can also contact a trustee for a consultation: your first meeting will be free of charge or obligation, and will deal exclusively with your personal circumstances.
For questions on student loan debt and related topics, trust the experts at Bankruptcy Canada!
The latest questions on Student Loans in Bankruptcy, with our experts' responses:
Posted on Tuesday, January 17, 2012
posted by Questions @ 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 [...]
Posted on Monday, January 9, 2012
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 [...]
Posted on Tuesday, December 27, 2011
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
Posted on Wednesday, November 30, 2011
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 [...]
Posted on Friday, November 18, 2011
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
Posted on Thursday, November 10, 2011
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
Posted on Monday, September 26, 2011
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
Posted on Sunday, May 29, 2011
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 [...]
Posted on Saturday, May 7, 2011
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 [...]
Posted on Saturday, May 7, 2011
