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American Student Loan Debt

A few years ago I immigrated to Canada from America. While I was in America I incurred a student loan debt which I can’t afford to pay. My financial situation in Canada is very stable but I can’t afford to pay off my American student loan debt. The US legal system will not discharge the debt and I don’t plan on returning to America. Are there any ways I could discharge the debt using the Canadian legal system or stop the creditors from pursuing me in Canada? Bankruptcy wouldn’t be the best option because the only debt I am trying to eliminate is the American student loan and I don’t want my credit rating in Canada to be affected.

Posted from: British Columbia

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One Response to “American Student Loan Debt”

A licensed trustee said...

You’ve got a real problem there – where ever you decide to file for bankruptcy, Canada or the US, you will be required to disclose ALL of your debts. You can’t simply choose to deal with your US student debt – you have to list everything.

Further, there are no international treaties on debt or debt collection. That means if you file for bankruptcy in Canada you will be protected from your US creditors in Canada, but the debts will survive in the US.

Sorry, but there’s no good answer for you (or anyone else with international debt problems).