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Student loan

I filed for bankruptcy May 13, 2004, and was discharged Feb. 14th, 2005.

I could not include my student loan when I filed because I had not been out of school for over 10 years. Since my discharge date, I have been out of school for over 10 years.

My income for 2006 will be slightly lower than for 2005 (fewer hours). Since discharge, I have not been able to put any payments on my student loan.

I received a letter from a collection agency wanting to me to make arrangements fo pay my $4,475.85 balance, plus daily interest. They want proof of my income, and proof of my expenses (grocery receipts??)

What are my options? Can I re-apply to have my student loan added? Should I file for a second bankruptcy? I have read about bill c-55. Would it apply to me? Has it passed yet?

I fear the collection agency might be aggressive in how much they want me to pay. I don’t know what to expect to hear back from them when they review my expenses and income. I don’t save my grocery receipts to prove how much I spend on food, but it looks like they want it.

I also worry about what would happen if I lose my job. I’m not able to put money aside should that happen.

Any help or advice would be greatly appreciated.
Thank you.

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One Response to “Student loan”

Barton Goth GCO Bankruptcy Trustees said...

Making student loan payments should not cause you any coflict with your bankruptcy. In fact we alwasy suggest that people continue to make at least the interst payments during bankruptcy where possible.