Can I apply for bankrupsy for a student loan?
December 6th, 2009
shade_under_water asked:
I heard you have to wait 10 years after your last study date to claim bankrupsy in Canada? Is this so? Student loan is for 60,000
I heard you have to wait 10 years after your last study date to claim bankrupsy in Canada? Is this so? Student loan is for 60,000
I don’t think those are included.
Don’t know about the laws in Canada, but it sure doesn’t seem right to take out all those loans for your education (and proabably lots of non-educational stuff, like rent, vacations, cars, party) and then plan on filing bankruptcy as soon as you can.
In the US they specifically changed the laws to prevent that. Federally backed student loans can’t be bankrupted.
The answer is ” NO ”
Let’s say if you make good profit on one real estate deal of $100,000.00 in profit within few months, can you pay down or pay off your student loan with it?
There is a will, there is a way
If I can assist you further, then let hear more from you.
Lots of people think that once they’ve filed for bankruptcy they will be unable to ever get a loan again, and ultimately they are unable to do anything financial ever again. This isn’t always true, there arewill help to improve your credit history in a number of different ways.
it would be best to talk to an attorney that specializes in bankruptcy. consultations are usually free and they will be able to tell you if it is possible. also ask them if you decide to ever go back for advanced degrees or other programs of studies (which many people do – I’m sure hard for you to imagine now) how that default of the student loan would impact you then in the future. Good Luck in making a hard decision.