I read on this site that banks want at least a third repayment. Do the student loans people have a similar stance? Eg. When they are the only creditor do they want all, or just the original principle amount. Thanks Posted from: Ontario
Click your province to find trustees in your area:
Student Loans and Bankruptcy in Canada
Current legislation on student loans in bankruptcy and proposed law changes
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:
one week before my bankruptcy i paid $15000 to my sons bank student loan ( i was cosigner for that loan) my bankruptcy trustees get the money back from bank layer ( because the loan was in dispute ie in court) is it legal to do so by trustees. Posted from: Ontario
i am just over 7 years owing for student loan debt that has gone to collections i cant pay it and im on welfare due to illness. I havnt filed taxes in 5 years and the goverment owes me money that the student loans want to take when i file. How can I prevent this [...]
Can you only claim bankruptcy on Student loans,I can handle the rest of my debt on my salary? Posted from: Newfoundland and Labrador
What should I do? I have a student loan that started out as $10,000 but has accumulated interest and fees bringing it to over $33,000. I was not able to make any payments following graduation in 1985 being a single mom and working min. wage jobs. I did make payments when I had extra income. [...]
Hi, question on my government student loans and bankruptcy. My last day of school was in April, 2004, so I am past the 7-year threshold to discharge with bankruptcy. I owe approx. 55 000 and earn 30 000/yr. Besides my tax returns being seized (approx. 2500/yr for 5 years now), I have not made a [...]
I filed in 2005 and was discharged in 2006. My paperwork shows the student loans to be included. I received a letter from CRA requesting the student loan be repaid. Contact my trustee and it appears I finished school in November 2005 and filed in August. Is there anything I can do to have this [...]
Hi, I have a outstanding student loan of close to 30 thousand. I’ve been paying on it not the full amount that they’ve requested but what I could afford at the time. I’ve never had the opportunity to use the courses I took in school and I’ve been out of school since 1997. In 2008 [...]
Hi, I was told that student loans can be discharged after 7 years but that the student loans people can oppose your bankruptcy on the grounds that your education is a life time asset and can have the courts make you pay a percentage of your loan amount before you get your discharge. Is that [...]
I filed Bankrupcy in 2006 finished school in 2001. I would like to now add this student debt to my original bankruptcy. I was advised that I could apply to have it added to my original bankruptcy can you advise what legislation or court forms or law to note when I apply I now live [...]