Calgary Bankruptcy Questions
Bankruptcy Question & Answer Forum - Calgary
Author: |
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rschmidt |
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August 13, 2007 |
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i have both a federal and provincial student loan, part of which is with a bank and the rest with National Student Loan Centre. i have exhausted interest relief, interest-only, and have been denied debt-reduction twice, but cannot make ends meet. i have kept the loans up to date using credit cards, but now maxed-out. what happens if i just give up and leave the loans to go into default? what does the bank do next? what would NSLC do next? what does the federal/prov. gov't student loans typically do? thank you.
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From: |
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Vanessa, Alger & Associates Inc. |
Date: |
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Aug 14, 2007 |
Answer: |
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Canada federal and provincial Student Loans are not discharged by a bankruptcy if it has been less than 10 years since you left University or College. If you have other obligations, which are causing your difficulty you may still wish to consider options such as orderly payment of debt, making an informal or formal proposal to your creditors or bankruptcy. Please contact our office to discuss your situation and options.
Vanessa Grant
phone: (403) 296-2977
If you wish to talk to one of the Calgary bankruptcy professionals at Alger & Associates Inc., you can call us TOLL FREE from anywhere in Alberta at 310-8888. After hour appointments at our Calgary bankruptcy offices are available.
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