10 years in 2008!!
March 10th, 2008 by Questions
I dclared bankruptcy due to my student loans in Nov 2001, I had no problems with my other debts only that I had low income and they were in the process of suing me.
Although I kept in touch with my Student loans creditors (cibc) , I made arrangements to pay very minimal payments, after one year a second creditor appeared ( ontario) and also started to pay minimal, about a year ago, a third creditor (federal) came after me, and also have started to pay very minimal pmnts, I cannot afford to make large pmnts, my income range is in the 30,000`s and have a family of 5 to support, I have all the intent to dissolve this debt, but dont have the means, getting a loan is nt an option, I have no assets, no property.
option, I have no assets, no property.
No credit at all, I know I may be able to speak to a trustee and discharged this large debt after 10 years, if thats not possible, can I still do a proposal? even though I declared Bankruptcy, These loans keep accumulating interest and keeps growing. I dont know what to do, I have no peace of mind, and also I have notice that the 10 year rule also re-set if you take classes at school? if this is true, what rules apply?