2008-06-16
Currently, Student Loans are not dischargeable in a bankruptcy until you have been out of school for 10 years. The proposed legislation will change this to 7 years. The new 7 year rule will apply to those who file for bankruptcy after that date, AND to those who are not discharged from their bankruptcy at that date. There are also currently provisions to apply to discharge a Student Loan for "hardship" reasons once your 10 years are up. This means that if you filed for bankruptcy more than 10 years ago and are still unable to pay the Loan, you can apply to discharge the debt under these "hardship" provisions. The proposed legislation will change this to 5 years. This new 5 year rule will apply to all bankrupts - past, present, and future. So....in your scenario....if you were discharged from your bankruptcy, only the proposed 5 year "hardship" scenario will apply to you. Donna Carson Calgary, Airdrie, Drumheller (403) 537-7657
2025-11-17
November 16-22, 2025 is National Addictions Awareness Week (NAAW) in Canada. Every year, organizations across the country observe this important week and do what they can to help those who may be struggling with addictions, while raising awareness and sharing information as to how family and friends can create support networks.
2025-11-13
Debt Solutions
Many may feel ashamed, embarrassed and completely overwhelmed about their debt. People experiencing debt-related stress often suffer from many associated health issues, such as sleepless nights, headaches, tension and more. And feeling out of control when it comes to managing their debt payments often prevents people from taking control of their financial situation. Not all debt results from overspending, living beyond one’s means, frivolous behavior or money mismanagement. To answer your questions about the stigma of debt, and to learn about the options available to you, tune into our Stigma of Debt VLOG series below with MNP's Licensed Insolvency Trustees.
2025-11-12
Bankruptcy Consumer Proposal
Summer fun doesn’t have to come with a hefty price tag.
