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Private student loan

Are student loans/ lines of credit given by financial instituions eligible for discharge under bankrupcty?

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One Response to “Private student loan”

A licensed trustee said...

Many banks now offer student lines of credit and loans to students – if they are not administered pursuant to either the Canada Student Loans program or a provincial equivalent then these types of debt may be included (and eliminated) if you file for bankruptcy.

If you are not certain please review the loan documents with your trustee BEFORE you file – you don’t want to find out after you’ve filed for bankruptcy that your were wrong about your student loans…