Will I be able to file a consumer proposal for just my student loans?
I filed for bankruptcy in 2008 and was discharged in 2009. However, I have student loans (over 7 years) that I am unable to pay and am considering filing a consumer proposal. I currently have a credit card and a car loan. Will I be able to file a consumer proposal for just my student loans without including my credit card and car loan? Second, is there an issue with the fact that I previously filed for bankruptcy?
Posted from: Ontario
First, if your student loans where given before you filed for bankruptcy then you have the right to apply to the Court and have them retro-actively included in the bankruptcy you have already completed. You will need a lawyer and it may cost a coupe of thousand dollars to bring it to Court, but it may be a better solution than filing a proposal.
To answer your proposal questions, you cannot pick and choose which debts to include if you decide to file a proposal now – all of your unsecured debt (student loans, credit cards, over drafts, etc) must be included. Your car loan should be excluded assuming the lender put a lien on your car. The fact that you previously filed a bankruptcy has no direct impact on filing a proposal now.