Comments on: Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/ Sat, 06 Sep 2008 02:55:51 +0000 http://wordpress.org/?v=1.5.2 Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: sue http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-43752 Wed, 12 Sep 2007 17:03:12 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-43752 I too am in the same boat. Last year I was garansheed 100% and because I couldnt pay they are now demanding full payment of the student loan. The previous debt was not mine but an ex's that has "run away". Because I was not divorced from him at the time of debt I had to pay and "add it to what he owes" I too am in the same boat. Last year I was garansheed 100% and because I couldnt pay they are now demanding full payment of the student loan. The previous debt was not mine but an ex’s that has “run away”. Because I was not divorced from him at the time of debt I had to pay and “add it to what he owes”

]]> Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: Edward http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-40016 Thu, 26 Jul 2007 17:17:55 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-40016 Any news at all on when/if the proposed new bankruptcy law (to reduce the period from 10 to 7 ears for student loans) is taking effect? I graduated in 2002 and am hoping to declare bankruptcy sooner rather than later. Any news at all on when/if the proposed new bankruptcy law (to reduce the period from 10 to 7 ears for student loans) is taking effect? I graduated in 2002 and am hoping to declare bankruptcy sooner rather than later.

]]> Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: Brock MacLachlan http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-39484 Sat, 14 Jul 2007 08:31:17 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-39484 After reading so many dismal accounts of what it is like to be enslaved by this particular form of enslavement, I am all the more depressed. I am 60 and just recently came out of a failed attempt at getting a useless masters degree. I ran up $55,000. 00 in student debt to add to my other debt of an additional $25,000. There really aren't that many lucrative employment opportunities for someone of my profile. Why was I so dumb to enslave myself in such a manner? I just wanted something better for myself in the form of a career path that was different from the no-where jobs I had held in the past. It was a gamble that I lost. Now it appears that the remainder of my life will pass in grinding poverty and constant battles with low-life debt collectors. I hate to admit it but the S-word is increasingly looking like an attractive escape from this unpardonable financial prison. Cheers After reading so many dismal accounts of what it is like to be enslaved by this particular form of enslavement, I am all the more depressed. I am 60 and just recently came out of a failed attempt at getting a useless masters degree. I ran up $55,000. 00 in student debt to add to my other debt of an additional $25,000. There really aren’t that many lucrative employment opportunities for someone of my profile. Why was I so dumb to enslave myself in such a manner? I just wanted something better for myself in the form of a career path that was different from the no-where jobs I had held in the past. It was a gamble that I lost. Now it appears that the remainder of my life will pass in grinding poverty and constant battles with low-life debt collectors. I hate to admit it but the S-word is increasingly looking like an attractive escape from this unpardonable financial prison.

Cheers

]]> Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: Rob http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-34376 Fri, 18 May 2007 08:52:28 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-34376 I think that this bankruptcy ordeal has ruined the life of many people!! I've come across tons of people with Bachelor/Master degrees and being stuck with low wage jobs and going nowhere in repaying their loans. I was wondering: is the 10 years waiting period really 10 years or is it more than that....some trustee mentioned to me that it's 10 years + 6 months? I think that this bankruptcy ordeal has ruined the life of many people!!
I’ve come across tons of people with Bachelor/Master degrees and being stuck with low wage jobs and going nowhere in repaying their loans.
I was wondering: is the 10 years waiting period really 10 years or is it more than that….some trustee mentioned to me that it’s 10 years + 6 months?

]]> Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: Leesa http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-29839 Sun, 18 Mar 2007 05:59:48 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-29839 I too have a similar story. I am quite surprised of so many people in the same vote as me. I too feel like I am in a 10 year hiding. I have about 16000 owing from student loans and a BA to show for it. With no good job. I now am a single mom of a 5 year old and I have been scrimping and saving the last year to pay for a 7 month certificate that will actually get me a 20 dollar an hour job with good benefits....UNLIKE MY STUPID DEGREE...WHICH IS USELESS....you get no assistance or guidance in university. The people who give out the loans should be ensuring the students will have almost guaranteed jobs when they graduate or else it is just a waste of money. Well, not to the bank, they benefit and the students get banged up for a large debt they cannot pay back. It is very upsetting. I try not to think of my debt. I too have a similar story. I am quite surprised of so many people in the same vote as me. I too feel like I am in a 10 year hiding. I have about 16000 owing from student loans and a BA to show for it. With no good job. I now am a single mom of a 5 year old and I have been scrimping and saving the last year to pay for a 7 month certificate that will actually get me a 20 dollar an hour job with good benefits….UNLIKE MY STUPID DEGREE…WHICH IS USELESS….you get no assistance or guidance in university. The people who give out the loans should be ensuring the students will have almost guaranteed jobs when they graduate or else it is just a waste of money. Well, not to the bank, they benefit and the students get banged up for a large debt they cannot pay back. It is very upsetting. I try not to think of my debt.

]]> Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: Nadim http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-15629 Tue, 16 Jan 2007 00:24:16 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-15629 I am now just starting my ninth year of debt. I owe $35,000 on my student loan and see no end in sight. I just made an offer to my student loan officer to pay a portion of my debt with a prompt 'sorry it doesn't work that way". So let me get this straight.... Businesses and cooporation can ring up millions and file for bankruptcy. Shopaholics can ring up massive personal debt and file for bankruptcy. The government is not accountable for any errors or scandals. Yet a student is held in financial prison for 17 years. Ten years to file for bankruptcy and seven for a poor credit rating with their only crime being INSUFFICIENT FUNDS. It's quite funny when bankruptcy is something to look forward to. I can't wait till next year when I can finally move on with my life; unless ofcourse I win the lottery before. I am now just starting my ninth year of debt. I owe $35,000 on my student loan and see no end in sight. I just made an offer to my student loan officer to pay a portion of my debt with a prompt ’sorry it doesn’t work that way”.

So let me get this straight….

Businesses and cooporation can ring up millions and file for bankruptcy. Shopaholics can ring up massive personal debt and file for bankruptcy. The government is not accountable for any errors or scandals. Yet a student is held in financial prison for 17 years. Ten years to file for bankruptcy and seven for a poor credit rating with their only crime being INSUFFICIENT FUNDS.

It’s quite funny when bankruptcy is something to look forward to. I can’t wait till next year when I can finally move on with my life; unless ofcourse I win the lottery before.

]]> Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: asif http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-13164 Thu, 14 Dec 2006 22:44:41 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-13164 Hi everyone, I have an idea but I don't know if it will work. We need to stop being law abiding citizens. What we need to do is apply for lots of credit cards and take the credit cards and pay off the student loans then declare bankruptcy. Ha ha ha........ I guess the government is not that smart after all......... Hi everyone, I have an idea but I don’t know if it will work. We need to stop being law abiding citizens. What we need to do is apply for lots of credit cards and take the credit cards and pay off the student loans then declare bankruptcy. Ha ha ha…….. I guess the government is not that smart after all………

]]> Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: Melissa http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-12200 Thu, 23 Nov 2006 05:36:48 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-12200 I thought I finally got it all figured out. I reached my 10 years out of University in June 2005... a few months later I sold my townhouse and made a little money (it was in my parent's name, but I paid for everything). So, with the money I had, I went to a Trustee to try to settle my CSL. I owed $31,000 at that time, and I had about $20,000 total. I wanted to see if they'd take a settlement, since my initial loan was only $18,000. The Trustee said I would have to pay them $18,000, pay the Trustee $2,000 and then still file for Bankruptcy and go to court to arrange payments for at least 2 more years. He told me that the court probably wouldn't forgive the debt even though I'd been out of school for 10 years. So much for the 10 year law! Anyway, shortly after that I got sick and only worked on and off for a year, so the money's gone. They could've taken the $20,000, but looks like now they won't be getting any unless I win the lottery! Nice system we've got! I thought I finally got it all figured out. I reached my 10 years out of University in June 2005… a few months later I sold my townhouse and made a little money (it was in my parent’s name, but I paid for everything). So, with the money I had, I went to a Trustee to try to settle my CSL. I owed $31,000 at that time, and I had about $20,000 total. I wanted to see if they’d take a settlement, since my initial loan was only $18,000. The Trustee said I would have to pay them $18,000, pay the Trustee $2,000 and then still file for Bankruptcy and go to court to arrange payments for at least 2 more years. He told me that the court probably wouldn’t forgive the debt even though I’d been out of school for 10 years. So much for the 10 year law! Anyway, shortly after that I got sick and only worked on and off for a year, so the money’s gone. They could’ve taken the $20,000, but looks like now they won’t be getting any unless I win the lottery! Nice system we’ve got!

]]> Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: Michelle http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-12101 Mon, 20 Nov 2006 20:13:38 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-12101 Hi everyone. I to, like many went off to college on a student loan. I was 19 then and not educated at all on finances. Now almost 10 years later, I just wait patiently for my 10 years to end. I'll be over 30 before I can acually start my life. I believe that a student should have to wait a while before claiming bankruptcy and try to pay off loans but 10 years!!!! Thats to long thats worse than an embezzelment sentence. I now have a 2 year child and would really love to provide a home for her, but with the outstanding loans I can't get any banks help. I sure hope for my daughters sake and all the young "KIDS" going to colleges or university soon that the student loan just disappears. It ruined my life before I even got a chance to start it. Please drop the 10 year waiting period on student loans, let us now 30 + year olds start over!!! Hi everyone. I to, like many went off to college on a student loan. I was 19 then and not educated at all on finances. Now almost 10 years later, I just wait patiently for my 10 years to end. I’ll be over 30 before I can acually start my life. I believe that a student should have to wait a while before claiming bankruptcy and try to pay off loans but 10 years!!!! Thats to long thats worse than an embezzelment sentence. I now have a 2 year child and would really love to provide a home for her, but with the outstanding loans I can’t get any banks help. I sure hope for my daughters sake and all the young “KIDS” going to colleges or university soon that the student loan just disappears. It ruined my life before I even got a chance to start it. Please drop the 10 year waiting period on student loans, let us now 30 + year olds start over!!!

]]> Comment on Canadian Bankruptcy Reform On Hold – Bankruptcy Canada Blog. by: Mathieu http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-12084 Mon, 20 Nov 2006 15:27:04 +0000 http://www.bankruptcycanada.com/blog/canadian-bankruptcy-reform-on-hold/#comment-12084 Is this new rule(student loan bankruptcy allowed after 7 years) law? Is it simply being delayed? Does the present conversative goverment have the ability to not follow through on this new rule without a new vote? Is this new rule(student loan bankruptcy allowed after 7 years) law? Is it simply being delayed? Does the present conversative goverment have the ability to not follow through on this new rule without a new vote?

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