can\’t repay loan plus complications
March 31st, 2007 by Questions
my daughter has been out of school for over 10 years and can’t pay her student loan and since has seperated from her husband ,
owes money to the bank, and has 2 children.
she was working and paying her loan which a collection agency has,then got pregnant with her second child,went on maternity leave ,now is getting retrained by U I
and still has no money
could she apply for bankrupcy?
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April 03, 2007 at 4:01 am, Barton Goth GCO Bankruptcy Trustees said:
As you daughterâ€™s student loans are greater than 10 years of age if she filed either a bankruptcy or consumer proposal either would clear her from the Student loans. Student loans are a debt that is dischargeable by either filing a bankruptcy or consumer proposal as long as she has been out of school for at least 10 years.
It would be important for here to contact a licensed trustee and review carefully the dates associated with her last attendance at school. If she is not confident of these dates she should contact the last post-secondary school that she attended and ask them when you were de-registered as a student. I must emphasize that this time frame is essential to clarify as even being one day less than 10 years the result will be that the student loans ill not be cleared.