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Nova Scotia bankruptcy Q&A forum

Question:

 

I have a student loan I am finding hard to pay back. When looking at a loan while considering bankruptcy,how does it work. Is each individual year looked at or is it the entire amount of time? For example if a couple years are over 7 years old and others are not, are the older ones removed and the others remain?



From:

 


Grant Thornton Limited

Date:

 

Aug 10, 2017

Answer:

 

Hello Susan, thank you for your question. If you have not been a student in the last 7 years, your student loan debt can be discharged through a bankruptcy or consumer proposal filing. However, if you have been a student within the last seven years, these filings will not automatically discharge this debt. That being said, there are options depending on your situation that could provide you with relief even if you have been a student within the last seven years. We would be happy to discuss your situation in more detail through a consultation. This consultation is of no cost to you but will provide you with some possible solutions. Consultations can be booked using our toll free number 310-6060. Kaitlin

Grant Thornton Limited
T 310-6060
askanexpert@ca.gt.com

 

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