bankruptcy canada
Do I Have To Continue Paying Student Loans During My Bankruptcy or Consumer Proposal?
Even though your student loan debt may not be discharged as part of your personal bankruptcy or consumer proposal, the creditor is still prohibited from normal collection activities during your personal bankruptcy or consumer proposal. We recommend paying the interest portion of the payment during your personal bankruptcy or consumer proposal.
Read MoreCan I Declare Bankruptcy If I Live Outside of The Country?
Generally speaking, under the Bankruptcy & Insolvency Act, if you reside outside of the country you can still declare bankruptcy as long as you meet certain criteria. If you are a previous Canadian resident and are have debt issues you should contact Powell Associates Ltd. to determine if you meet the criteria to file personal bankruptcy or a consumer proposal in Canada.
Read MoreCan Bankruptcy Deal With My Student Loans?
Individuals who file a personal bankruptcy or consumer proposal, at least 7 years after ceasing to be a part-time or full-time student, are released from paying their Canadian student loan debt.
Read MoreWhat is Surplus Income and How Will it Affect My Bankruptcy?
Surplus Income is having excess income above the net monthly income threshold, set by the Superintendent of Bankruptcy, for a person or family to maintain a minimal standard of living in Canada.
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