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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Student

If I am being garnished from my pay for student loans, is there anything I can do? Would a consumer proposal help? I’m being garnished 30% and am not able to pay rent this month, let alone buy food or pay any other bills I have. Any help would be appreciated.

Posted from: Ontario

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One Response to “Student”

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

Potentially the filing of a bankruptcy or a consumer proposal will stop a garnishee. The challenging thing is whether either of these will be able to clear you from the student loan debt. The problem is that the legislation clearly states that for a student loan to be cleared by a bankruptcy or a consumer proposal you have to have been out of school for greater than 7 years. If this is the case it is very simple, contact a local trustee right away, if not you may be forced to look at dealing directly with the student loan department.