Danny........Some Info that might help

Hi Danny. If your s/l's are more than ten years old
(10 years since you last were a student whether you
had s/l's or not) you can have them discharged in a
bankruptcy. If you have a discharged bankruptcy on
your record, you contact the superintendant of
bankruptcy in Ottawa in order to apply for a court
hearing to have them discharged. I have been told
that the courts will look at several factors i.e. will
continuing paying $ towards the loan cause
significant hardship? Has the debtor acted in good
faith and made an effort to pay some $ back? What
is the income level of the debtor? Any dependants?

I would encourage you to contact John Leblanc at
cfw or perhaps post a message to 2Laural. S/HE is
a bankruptcy trustee that posts on this sight from
time to time. Hope this helps! Laser. p.s. save me
a spot in the line up to see the bankruptcy super!

HI MOMOF3

Yes I am told that once the loans are 10 years old, you can apply to the courts, the superintendent of bankruptcy will give you a sample letter of what you have to type up. The cost to have this heard in court here in Sask. is $ 10.00. I am told that they have hearing once every week for these cases.

They told me that they can either make you pay 50%, or have it fully discharged. Those are the only options, depending on your situation. If they feel that you can contribute then you pay 50%, but if there is not a hope in hell, then you may have them discharged. They base their judgement on:
1)current income and whether it will increase over time
2) dependents that you are supporting
3) have you made any attempt to pay
4) was the education beneficial to you(are you in a job where you are using your education?)
5) did you graduate?
6) have you acted in good faith
The person told me that people are trying to have their loans discharged due to not being able to pay, yet they went out and purchased a home,boat or a vehicle.
I am told that they are somewhat lenient, (did you buy a vehicle, due to it being a condition of employment vs you just wanting the vehicle.
She told me of one guy who said he could not pay anything, yet he had a 2004 Avalanche.

My loans will be 10 years old in 2008, so if I am not in a better situation to pay them off, I will apply to te courts. By that time, my loans will be over the $ 50,000 mark,(they started out being $ 20,000 in 1998)
But that is the option.

I am paying for the federal portion owed, yet the interest is $ 55, and I am paying them $ 50.00.
So you see where my situation is at.

I did find that HRDC are really nice to work with,if you are pleasant to them(I was not so nice in the past)and if you give them all the information that they want.
This makes life easier.