@@DebtFreein30 Really? hmm when I called before for a free consultation they told me certain debts they could not erase. Well, I will keep you updated I plan on filing soon.
I'm an immigrant to Canada and trying to learn the laws here (because I love personal finance, not because of any need). Where do student loans fit into the picture? In the US, it is all but impossible to get student loans discharged. Same in Canada? Are there Canadians who need a bankruptcy, but they're mostly indebt from school, so it won't improve their lives much? Or does the fact that they *have* to pay the student loans mean they have to get other debt discharged just or be able to handle the student loans? Thanks, I learned a lot from this video.
Student loans are dischargeable in a bankruptcy or a consumer proposal in Canada 7 years after the last day of school. (Dropout date, Graduation, or last date attended) You can learn more on our Hoyes TH-cam page or view more podcasts. We offer lots of information on very specific topics such as this. Thanks for watching! :)
Hi Andrea, in a Consumer Proposal you only need the majority of the debt to agree. This could be one creditor in some cases. If the deal offered fits their needs and they agree to it, all other creditors are now legally bound to the proposal terms. You can learn more at www.hoyes.com/ Or www.hoyes.com/blog/when-is-a-consumer-proposal-legally-binding-on-your-creditors/ Thanks for watching!
Very intriguing and informative! Thank you very much!!! ❤
Can you put cash into an rrsp a few weeks before filing bankruptcy to protect it?
I just filed for bankruptcy in February and my trustee used a threshold based on numbers from 2018. Am I being ripped off?
It cost $1800 where I live in WPG MB
Back in the early 90s when you filed, government debt was included.
Not anymore though!
Government debts are still included. Only court fines and things like that cannot be included. Thanks for watching too!
@@DebtFreein30 Really? hmm when I called before for a free consultation they told me certain debts they could not erase. Well, I will keep you updated I plan on filing soon.
@@PeterBornAgain Please try again, hope we can help clear up any confusion.
I'm an immigrant to Canada and trying to learn the laws here (because I love personal finance, not because of any need). Where do student loans fit into the picture? In the US, it is all but impossible to get student loans discharged. Same in Canada? Are there Canadians who need a bankruptcy, but they're mostly indebt from school, so it won't improve their lives much? Or does the fact that they *have* to pay the student loans mean they have to get other debt discharged just or be able to handle the student loans?
Thanks, I learned a lot from this video.
Student loans are dischargeable in a bankruptcy or a consumer proposal in Canada 7 years after the last day of school. (Dropout date, Graduation, or last date attended) You can learn more on our Hoyes TH-cam page or view more podcasts. We offer lots of information on very specific topics such as this. Thanks for watching! :)
Can i contact you guys directly regarding my brothers situation?
Kind of.
Bankruptcy is the only option if your creditors won’t agree to a consumer proposal.
Hi Andrea, in a Consumer Proposal you only need the majority of the debt to agree. This could be one creditor in some cases. If the deal offered fits their needs and they agree to it, all other creditors are now legally bound to the proposal terms. You can learn more at www.hoyes.com/
Or www.hoyes.com/blog/when-is-a-consumer-proposal-legally-binding-on-your-creditors/
Thanks for watching!