Not being able to repay your student loans can be very stressful, but it doesn’t have to be.
As a result of tuition fees consistently rising faster than inflation and limited job prospects upon graduation, students are finding themselves with significant student loans years after graduation. If you find yourself in a situation where your student loans seem insurmountable it’s worth considering your options. By filing a consumer proposal or assignment in bankruptcy your student loans are erased if you graduated at least 7 years ago. Even if you graduated as few as 5 years ago, it is possible for your student loans to be erased if you are able to demonstrate that you have made good faith efforts to repay your loans and the court approves your request. If your not sure if 7 years have passed since you stopped studying you can call:
National Student Loans @ 1-888-815-4514, or
Ontario Student Loans @ 1-800-387-5604
If the money you borrowed to go to school wasn’t “government sponsored” it can be erased through a consumer proposal or bankruptcy without waiting 5-7 years.
Debt, including student loans, doesn’t have to ruin your life. Call Welker and Company to discuss your Student Loans and book your free consultation, or fill out the form below and let us impress you with our prompt response.