I know that student debt isn't included in bankruptcy proceedings for at least seven years (or five years in exceptional circumstances). But what's the solution if I can't get out of this situation? I have $35,000 in student debt and $15,000 in credit card debt. I graduated three and a half years ago and haven't been able to find a job despite intensive and sustained efforts (in the arts). I have an income of about $1,000 a month, and I'm not allowed to file for bankruptcy with my student debt.
You could file for bankruptcy now to free yourself from your other debts.
Once the 5-year period has passed, if your situation hasn't changed (no job or low income), you could apply to the court to be discharged from your student debt.
Once the 5-year period has passed, if your situation hasn't changed (no job or low income), you could apply to the court to be discharged from your student debt.
Questions reliées
- Can I declare bankruptcy if I've received a wage garnishment from the Loans and Bursaries program? I tried to reach an agreement with them to reduce the amount, but the garnished amount is far too high for me.
- How do I declare bankruptcy in order to get out of a 10-year student loan?
- I am supposed to inherit a sum of money. However, I owe money to the Quebec Ministry of Education for student services. Will the amount I receive be reduced by my student debt?
- I declared bankruptcy in October 2019. I want to return to school and will need loans and bursaries. Will my bankruptcy cause me problems obtaining them?
- I have a debt from my studies in Quebec, which I completed almost 10 years ago. I have used all my deferred repayment options (60 months). The last request was made two years ago. I haven't been able to start making payments due to financial difficulties. I had permanent resident status from 2010 to 2014. I have been living abroad since 2014 and have therefore lost my permanent residency (I have been absent for over five years). I started a study program in Quebec last year with international student status. I am currently studying remotely due to the pandemic, but I should be arriving in Quebec soon. Could my situation cause problems with immigration services upon my arrival? Is there any way to reduce my debt? Who should I contact to renegotiate my file?