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
2007-09-09 11:29:59 · 5 answers · asked by shade_under_water 2 in Business & Finance ➔ Credit
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.
2007-09-09 11:36:55 · answer #1 · answered by bdancer222 7 · 2⤊ 0⤋
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.
2007-09-10 05:36:41 · answer #2 · answered by Mildred S 6 · 0⤊ 0⤋
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.
2007-09-09 18:42:24 · answer #3 · answered by L L 3 · 0⤊ 0⤋
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.
2007-09-09 21:43:22 · answer #4 · answered by global l 1 · 0⤊ 1⤋
I don't think those are included.
2007-09-09 18:36:36 · answer #5 · answered by sweets 6 · 0⤊ 0⤋