By consulting a Licensed Insolvency Trustee (“LIT”), you can receive advice about all of your student loan repayment options, not only the options offered by the National Student Loan Service Centre or your financial institution.
Category: Student Loans
Do I Have To Continue Paying Student Loans During My Bankruptcy or Consumer Proposal?
Even though your student loan debt may not be discharged as part of your personal bankruptcy or consumer proposal, the creditor is still prohibited from normal collection activities during your personal bankruptcy or consumer proposal. We recommend paying the interest portion of the payment during your personal bankruptcy or consumer proposal.
Can Bankruptcy Deal With My Student Loans?
Individuals who file a personal bankruptcy or consumer proposal, at least 7 years after ceasing to be a part-time or full-time student, are released from paying their Canadian student loan debt.