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I am a single mother of two. I have over 40k in student loans (both provincial and federal), have a car loan for approx. 10k. If I go bankrupt, will I be cleared of my student loans and will I be able to keep my car?
posted by Questions @ 3:29 PM
1 Comments:
At 9:36 AM,
Barton Goth, GCO Inc. Bankruptcy Trustees said…
The first condition is that the bankrupt is still a student when they file.
The second is that it has been less than 10 years since the bankrupt ceased to be a full-time or part-time student.
So your student loan meets the above criteria than it is a debt you will be released from if you file for bankruptcy.
As for the vehicle, in most instances you can keep the vehicle, but you are best to contact a licensed trustee to confirm details surrounding this.
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