2025-06-30
How do I respond to creditors?
Credit Counselling
Here are the ABC’s of dealing with creditors and debt collectors.
Student Loans Obtained During A Bankruptcy Or Proposal
2010-02-14
Some student loans do go away in a bankruptcy or proposal. If the bankruptcy or proposal starts more than 7 years after you ceased to be a student, the student loans are extinguished when you finish your bankruptcy or proposal. If Student Loans agrees, student loandebt that wouldn't normally go away can be forgiven in a proposal. However, any amounts you borrow after a bankruptcy or proposal starts have to be repaid. A bankruptcy or proposal only deals with debts that existed at the date you started the bankruptcy or proposal. They will not affect your obligation to repay amounts you borrow after the bankruptcy or proposal started. This applies to any type of debt you obtain after the start of the bankruptcy or proposal. If your question was about being able to get student loans during a bankruptcy or proposal, yes, this is possible, but it's important that you discuss it with your trustee and student loans before any funds are advanced. Judy Scott - Trustee Meyers Norris Penny Limited Port Moody - Burnaby, BC 604-949-2118 [email protected]
Latest Blog Posts
2025-06-30
What rising interest rates could mean for you
Lifestyle Debt Debt Solutions
Eight times a year, the Bank of Canada will make an announcement on the key interest rate, and if projections are correct, we are going to see interest rates rise. You could be thinking, what does that mean, how will it affect me, what can I do?
2025-06-25
How to budget for inflation
The cost of daily goods has been rising over the past few years — increasing the price of food, gas, clothing, and many other essential items that Canadians need in their day-to-day lives.
