August 11th, 2008 by Questions

i am currently considering separating from my common law partner; this will cause a significant financial strain as he make 3 times as much as me and the cost of living here in really high. I have student loans that will reach 7 years old in May 2009.

I understand that i may be able to have these included in bankruptcy due to financial harship. How does claiming hardship work? Does the trustee do it or do i need to get a lawyer.

Posted from: Alberta


One Response to “hardship”

, Barton Goth - Goth & Company Inc. - Bankruptcy Trustees said:

Hardship is very rare. In order to attempt a hardship claim you essentially have to show that you are pretty much destitute, did not benefit from your education in any way (i.e not at all related to your current or future employment), and that you have acted in good faith. If I were in your shoes, knowing how rare hardship is, I would try to hold on to things until May 2009 before I claim bankruptcy so I was guaranteed that the loans will be cleared.

In terms of who makes that claim, it really depends on the situation, so you would need to review things in more detail with a local trustee.

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