Interest and possible consumer proposals

May 4th, 2007 by Questions

My fiance has a student loan, started out at about 14,000 ten years ago and is now almost 30,000. Not sure how that is possible but o well. He has been out of school for just over 10 years. So we\’re debating consumer proposal or bankruptcy.

We sought help from our MP, he told him to go on welfare (big help). So here we are, not sure what to do.

Will student loan settle with a lump sum?


One Response to “Interest and possible consumer proposals”

, Barton Goth GCO Bankruptcy Trustees said:

Settling student loans where you have been out of school for more than 10 years is definalty possible through a consumer proposal , but what specifically they would be likely to accept is largely dependant on the amount offered, the other debts involved and the amount of distributions that would be expected through the process.

As a result you are best to contact a local trustee, have them review the specifics of your situation and then they will be in a much better position to answer your question.

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