Disabilty and Bankruptcy

 It would depend on your disability. Is it long-term to the point where you cannot work at all? The discharge process is not easy at all, truth be known. Otherwise, you would hear lots of stories about happy people being student debt free.

 Trustees tell people lots of jargon to simply "distract" their student loan bankrupt clients. They know how bloody difficult it is going to be to achieve discharges. The trustess are praying for the miracle so they can get back in the business and earn tons of cash by selling bankruptcy as a solution rather than paying them. Some people do want to pay their loans and then do so. Some people do not want to pay their student loans and constantly seek ways to avoid having to pay. This is the world we live in. Bankruptcy in days gone by made fortunes from student loan debtors who did not want to pay and found that bankruptcy was their window of oportunity.

That's one way of looking at it.

Another way is this. Bankruptcy laws which have been in existence since about fifteen minutes after the invention of the concept of "credit" were instituted to protect people from unreasonable suffering as the result of an inability to satisfy financial obligations.

Even in such brutal and cruel times as Italy at the time of Medicis and the Roman Empire at its lions v. Christians peak there was a recognition that there had to be some reasonable and human limit to the suffering people could be made to undergo over a debt. Bankruptcy has always been the last resort for those who demonstrably could not satisfy an obligation NO MATTER WHOSE FAULT IT WAS, short of a fraudulent bankruptcy. It has always been a fundamental recognition that human life and dignity were more valuable ultimately than money.

Then along came the adjustments to Canadian bankruptcy laws. The new way of looking at it is this:

THEIR money has more value than human life and dignity. Every one else lends and occasionaly loses. That's why there is interest charged. Not student loans, though. The most ancient and fundamental protections belonging to a civilised society no longer apply to the students who got stuck with the bill of goods. They are not entitled to that basic remedy that everyone, everywhere else has.

In Canada, a defaulted student loan is more of a crime than murder. You have a longer time waiting for forgiveness on your student debt than Carla Homkolka will spend in prison (while she gets that education for free). Money is more valuable than human life in Canada.

To add more... this is the very reason why the governments shut the windows on the Bankruptcy administration. Too many people wee frustrating the sysytem and the good ole boys and gils on the hill said enough is enough.

 I appreciate you taking the time to respond to my questions. I do want to clarify that I'm not simply trying to "Frustrate" the system. Bankruptcy in my case would be a last resort. I went through a Commercial Pilot Program and earned an IFR rating and flight instructor rating. I graduated at the end of August 2001. 11 days later we all know what happened to the Aviation Industry. Once you get your Instructors rating the ol' clock starts ticking. You have 1 year to go from a level 4 to a level 3 or else your instructors rating becomes invalid. You jump from a 4 to a 3 by the number of hours you spend teaching. You spend hours teaching by getting employment.

I don't consider myself a member of the bad apple club who choose to, as you say, "Frustrate the system". I have a wife and 2 children and I'm honestly scared. I want what so many others want. The house, the backyard for my kids to play in, the second car any colour she wants etc etc.

The worst part of the day is checking the mail and getting these lovely letters. "Dear Mr. SoAndSo, please send payment in the amount of one million dollars to CIBC and for your convenience we have included a pre-paid postage envelope because we understand that you probably cannot afford a f**king stamp".

My oldest son has Monopoly... I wonder if they have a sense of humor...hmmm.