how much does it cost to go bankrupt?

October 14th, 2006 by Questions

i have a student loan (over 40k) i also have various other bills amounting to approx 5 to 6k I have no credit cards or a vehicle. I have 2 kids and am maternity leave with no benefits(didnt qualify). my income right now is only 1000.00 a month. I dont own a home and am living with relatives. I just moved to Ontario from NL last year trying to get a better life. I want to go back to work but will pay out basically what I make in childcare. I cannot afford to pay these debts and cannot make a fresh start with them. Just wondering how much it will actually cost me to file for bankruptcy?


One Response to “how much does it cost to go bankrupt?”

, A licensed trustee said:

The cost of filing is based on your income and the number of people in your household. You should expect to pay somewhere around $1500 in fees over the 9 months your bankruptcy will take.

Unfortunately, bankruptcy may not help you with your student loan. Unless you have been out of school for 10 years, your student loan will survive your bankruptcy.

I suggest you use the search feature on this page to find a trustee near you to discuss your options.

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