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Dealing with debt from overseas

I have a substantial combined debt in excess of $75,00, most of which is student loans of one form or another. I am a Canadian currently working and living in the UK. I was able to keep up (barely) with my loan payments for a while, but then ran into a series of serious financial set backs that left me unable to make payments for a number of months. I have maintained contact by phone and by sending a letter explaining my situation. I have also recently been making partial payments when I am able to. I’ve recently been in touch with my Canadian bank and discovered that the student loans I have with them have either been sent to the government (for the guaranteed loans), to a collections agency (for the risk loans), or already have been sent. I would like to make a consumer proposal so that I may repay them, but I cannot afford to bring my accounts out of arears in the time they have indicated, nor can I realistically afford to make the full payments for all my debts. Is it possible to arrange this? If the situation results in a court case, would it be absolutely necessary for me to attend in person or could I send a proxy? (Airfare is exhorbitant!) Could I somehow be criminalized? Is it possible that, given how the majority of debt is owned to federal and provincial governments, that I would be prevented from renewing my passport? I recognize that I have asked a number of complex questions; who could I contact that would be able to deal with a situation such as this?

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One Response to “Dealing with debt from overseas”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

Typically it is very difficult to arrange to file a consumer proposal or a bankruptcy
while out of the country. Usually, if you own property in Canada it is easier to obtain the necessary permission, but to discuss all the details you should contact a licensed trustee in the Canadian local you most recently lived. As for the ability for the government to prevent you from obtaining a passport etc., while I am not an emigration expert, I have never seen this happen and don’t believe it is possible.