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Canada Student Loan

I finished school in 1996 and still owe 7172.00 for the CIBC Student loan. I was wondering if this is going to stay on my credit record for life. Is it a good Idea to get a claim personal bankruptcy against this outstanding debt.

Thank you,

Sheena

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One Response to “Canada Student Loan”

A licensed trustee said...

It may stay on your credit file as long as it remains unpaid and “active” (some one is still trying to collect the debt).

I can’t tell you whether on not you should be filing bankruptcy – you may want to use the search function on this page to find a local trustee to discuss your options with. They will ask you to provide more information regarding your finances and help you determine the course of action that’s best for you.