2025-06-03
How to set financial goals with your spouse
It can be difficult to discuss your finances with a spouse. These five steps can help you set and achieve financial goals together.
2009-07-08
Last summer the law was changed so that individuals would only be released from Student Loan debts if they had last attended school more than seven years prior to filing bankruptcy. This was a reduction as the previous standard had been ten years. However, the act also provides that a person can make an application to the bankruptcy courts if they have been through a bankruptcy, have been out of school for five years and can demonstrate to the court that they will have continued hardship and will not be able to repay the student loans. Individuals in that situation are required to demonstrate to the court that they have acted in good faith, and also will have to show that they have no ability to make the required payments under the student loan. These sort of applications have not been common until recently and there is not likely ever to be a standard as to what constitutes hardship, but a person finding themselves in the above situation should at least consider making such a hardship application. A lawyer is likely required but sometimes it is not necessary, at least in Saskatchewan, for an actual hearing in court, if the student loan authorities can be convinced to consent to the application. It is unfortunate that the courts were not give authority to order reduced payments, but as the law stands this is a case of "all or nothing". If anyone has any questions on the above they should feel free to contact the nearest MNP office. Ian Schofield MNP Regina 306-790-7904
2025-06-03
It can be difficult to discuss your finances with a spouse. These five steps can help you set and achieve financial goals together.
2025-06-03
Lifestyle Debt
As more Canadians explore digital currencies, it’s essential to understand the risks. Learn how to protect your investments from volatility, scams, and legal pitfalls, and make informed decisions with this practical guide.
2025-05-27
Lifestyle Debt
Here’s a comprehensive guide on how to budget for a summer vacation, ensuring you make the most of your trip without overspending.