Can a student with a government student loan go through bankruptcy or get a consumer proposal?


For anyone who is in serious financial distress and is considering help, we recommend that you get in touch with a Licensed Insolvency Trustee for a free consultation. There is a difference between government student loans and loans through other sources.  Government student loans have special protection under the Canada’s consumer proposal/bankruptcy laws. Commonly, you cannot be released from this debt until after you have stopped being a student for seven years. If you decided to proceed with a consumer proposal or bankruptcy, you could still be responsible for repaying the government student loans at the end of the proposal or bankruptcy. In the event you that you have other unsecured debt, like credit cards or a line of credit, you may be able to get discharged and released from that debt through a consumer proposal.



If you are overwhelmed with a financial crisis, J.P. Graci & Associates Ltd can help! Call us now at 519-753-7361.



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Tara Y. October 16, 2017

I am so impressed with the support and customer service from the team at J.P. Graci and Associates. Thank you for the wonderful service!

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JP Graci and Associates is a wonderful organization. All staff members that I spoke with were very professional and friendly. Everyone was very motivated to help me and they worked very hard to deal w...

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Thank you so much for everything you and your staff have done to help me through this difficult time in my life. Thank you to Patricia for her smile and pleasant greeting when I came in the front and ...

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Everyone is great, knowledgeable and friendly. The staff does their best to make you feel comfortable. I highly recommend JP Graci and Associates. I live in Brantford and it is really close to the off...

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The staff were lovely and incredibly helpful. They were empathetic with my stress from the bankruptcy. They also gave great advice on my credit recovery. Thanks especially to Paul for his service and...

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