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]
2025-10-06
MNP Consumer Debt Index
Ontarians’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
2025-10-06
MNP Consumer Debt Index
The financial vulnerability of Saskatchewan and Manitoba residents is intensifying as their financial cushions shrink and more households edge closer to insolvency.
2025-10-06
MNP Consumer Debt Index
Albertans’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
