Hi I am on a permantent disablity via ODLP, and my student loans about to reach the 10 yr mark, I am hoping to declare bankruptcy on them but have been told that the fee will be over 200/mth for the 9 mths following the filing, is this true and is there any way I can declare with a lower monthly fee due to undue hardship, or is there any community programs to assist in the regards??
Labels: bankruptcy, bankruptcy Ontario, student loans
posted by Questions @ 5:39 AM
1 Comments:
At 7:16 AM,
J. Douglas Hoyes, CA, Trustee said…
If you truly believe that you must go bankrupt but cannot afford to pay, you can contact the Office of the Superintendent of Bankruptcy and ask about their bankruptcy assistance program. They have trustees who will agree to administer your bankruptcy for a lower monthly fee. However, make sure you understand the full costs of this option, because your trustee may hold your bankruptcy open longer to recover more tax refunds or GST credits, meaning it may have been cheaper to simply pay the monthly fee to complete your bankruptcy.
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