FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

"*" indicates required fields

Comments

This field is for validation purposes and should be left unchanged.

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

Total Unsecured Debt*

*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

This field is hidden when viewing the form

Source

How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Select Trustee By Province

Student Loan and Collection Agency

My son has been paying $50 per month on his student loan as agreed by the collection agency. This morning he recieved a call that they are garnishing his wages at a rate of 30% starting Monday morning. Can they do this? If so, what can he do to stop it?

Share this post:

X (Twitter) Facebook Pinterest LinkedIn Email

One Response to “Student Loan and Collection Agency”

A licensed trustee said...

They can only garnishee his wages if they have a court order. If they are calling you today, I doubt that they have a court order that will go into effect tomorrow. To stop a garnishment, you either have to make payment arrangements, file a consumer proposal, or go bankrupt. Under current law, student loans are only automatically discharged in a bankruptcy if they are more than 10 years old. Since I don’t know how old your son’s student loans are, I would suggest he contact a licensed trustee for an analysis of his options.