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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 Loan from 1985

What should I do? I have a student loan that started out as $10,000 but has accumulated interest and fees bringing it to over $33,000. I was not able to make any payments following graduation in 1985 being a single mom and working min. wage jobs. I did make payments when I had extra income. I am now an unemployed, 61 yr old woman and I would like to know my options – bankruptcy or loan forgiveness (if possible) Thanks

Posted from: Ontario

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One Response to “Student Loan from 1985”

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

I would recommend you sit down with a local trustee as most loan forgiveness programs require that you have been acting in good faith and making some payments on the debt. But contact a local trustee and they will advise you directly.