While most Canadians view student loans as an investment rather than an expense, they can become a burden after graduation. As the years go by and more unsecured debt is added, it can be a struggle to keep up. If you are contemplating filing for personal Bankruptcy in the hopes of discharging your student loan debt, you need to make sure your timing is right. Licensed Insolvency Trustee, Francyne Myers goes through the rules for including student loans in a Bankruptcy. She also discusses:

• The seven- year rule
• The importance of accurate study period ending dates
• When it makes sense to keep paying student loans
• Single date approach & multiple date apreach
• The 5 year court application rule
• Chances of obtaining further student loans after Bankruptcy

If you are unsure of where to turn, a Licensed Insolvency Trustees should be your first call. They are considered some of the best debt professionals in the country and the only ones licensed by the federal government of Canada. The initial consultation is always free and you can be assured that you will receive unbiased advice.

About Francyne Myers

In 2012, Francyne left her 23 year public service career and joined Allan Marshall & Associates where she completed her education and became a Licensed Insolvency Trustee in 2013. Alongside with her work she is actively involved in her local Trustee Association. In her spare time Francyne can be found fishing and spending time with her family.  

Additional Resources 

• Allan Marshall & Associates Licensed Insolvency Trustee
• Student Loan Repayments: What to Do to Afford Them
• National Student Loans: How Repayment Assistance Plan (RAP) Works

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