Consume proposal and student loans

Do I have been out of school since 1999. I owe over $30,000 in student loans which I am unable to repay. I don`t want to file for Bankrupcy. Is a proposal an option for student loans.

Posted from: Ontario

One Response to “Consume proposal and student loans”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The rules surrounding student loans and the filing of a bankruptcy are very specific. Essentially what they say is that as long as you have have not attended any school within the 7 years prior to filing for bankruptcy, then the student loans will be cleared by the bankruptcy.

The 7 year rule is very specific so it is best to discuss the exact time frame of when you attended with a local trustee to make sure you have all the details straight.