Comments on: How Will Bill C-55 Impact on Consumer Proposals?

By: dianna

dianna — Wed, 05 Dec 2007 03:15:00 +0000

Question for J. Douglas Hoyes, CA, Trustee :

I declared bankruptcy in 1997 and the legislation did not take affect on student loans until I believe shortly after 1998. I also declared bankruptcy in 2001 I have not been a student in school since December 1995. Does this mean that My studen loans are automatically included in my former bankruptcy in 1997? Dianna

By: Anonymous

Anonymous — Wed, 21 Nov 2007 05:12:00 +0000

I am roughly 80 grand in debt to student loans and, with interest about 40 grand in consumer debt. I finaly have a half decent job, but now I am being hounded to death for student loan payments and the rest of it. I have never declared bankruptcy and i am paying a little on each of my student loans every month. If my wages are garnishied I will once again be living so far below the poverty line I will never recover. What thre heck can I do?

By: Anonymous

Anonymous — Mon, 01 Oct 2007 15:50:00 +0000

Well, I’m 35..soon to be 36 and my life has been ruined by student loans. I went to university 1994-1999 and loved every minute of it, but when I graduated my monthly loan payments were going to be over $900. Needless to say I couldn’t afford that and still can’t. I can’t get approved for any sort of credit. I can’t even get approved by the oil company to get a tank full of oil in the house I rent. I’m pretty much tired of the whole thing.

By: Anonymous

Anonymous — Tue, 13 Mar 2007 05:55:00 +0000

I am wondering…after 10 years, do student loans automatically discharge, or do I have to claim bankruptcy anyway? My son became seriously ill while I was in colege, and I was forced to quit (we were in and out of hospitals). I owe around $20000, and have been struggling for 9 years to make even small payments.

By: Anonymous

Anonymous — Mon, 04 Dec 2006 03:40:00 +0000

I have student loans from university attendance from 1994 to 1998 and more from attendance from 1998 to 2000. I filed a consumer proposal, and I was advised that they couldn’t include my student loans. Was I lied to? misinformed? If so, can anything be done now?

By: J. Douglas Hoyes, CA, Trustee

J. Douglas Hoyes, CA, Trustee — Mon, 04 Sep 2006 19:48:00 +0000

The way the rules are written, the ten years start from when you ceased to be a student, so if you were a student in 2003, it has not been ten years, so your student loans would not be discharged if you went bankrupt.

No, just because your spouse verified their income, that does not make your spouse liable for your student loans.

By: Anonymous

Anonymous — Thu, 03 Aug 2006 19:04:00 +0000

I have student loans from university attendance from 1993 to 1996 and more from attendance from 2001 to 2003. Can I declare bankruptcy on the 1993 to 1996 portion of my student loans?

Also, to qualify for interest relief, I had to report my spouse's income and he had to sign the form with his SIN. Does this signature on the Interest Relief Application make him liable for my student loans if I default on them?

Thanks so much.

By: Paul

Paul — Tue, 22 Nov 2005 12:17:00 +0000

I went bankrupt in 2002 to 2003 and was discharged two years after 02 – When can my student loans be applied to the bankruptcy -I was a student 1993 to 1996 then again for 1 year in 98
And can any inheritances that might occur in the next few years be grabbed by the gov’t over the student loans
It amazes me how this liberal gov’t drags in boat loads of immigrants puts them straight into citizenship so they can vote them liberals back in and then gives them education for free so they can run off to the US afterwards for higher paying jobs – all the while wanting my little money that I make so they can give it away to some Arab !

By: Anonymous

Anonymous — Sat, 10 Sep 2005 11:46:00 +0000

I just want to say thanks for taking time to answer the questions put to you here. It shows that you have a social conscience and acutally care about how all of this impacts real people instead of just caring about the almighty dollar. I, for one, appreciate it.

By: J. Douglas Hoyes, CA, Trustee

J. Douglas Hoyes, CA, Trustee — Wed, 31 Aug 2005 11:14:00 +0000

Whether to consolidate (ie. borrow from another lender to repay your student loan)depends on your ability to repay. If you have a good interest rate and good repayment terms on your student loan, it may not make sense to consolidate if you end up paying a higher interest rate and have less favourable repayment terms.