Bankruptcy and Proposal Info and Issues

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Negotiating a payoff

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Forum Name: Bankruptcy and Proposal Info and Issues
Forum Description: Get your questions answered about bankruptcy and proposals
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=2951
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Topic: Negotiating a payoff

Posted By: chokdii
Subject: Negotiating a payoff
Date Posted: 24/August/2005 at 3:08pm

Hi Johnny..maybe you can give me some sound advice.

Back in 1999 I had to drop out of university due to financial hardship. I left with about 17,000 in debt. I believe about 4,000 of that is in Canada student loans. The rest is from Alberta.

I moved overseas in 1999 and just completely left the debts and the headaches, but now I am back again and the probelm is I wish to sponsor my wife to immigrate to Canada. I am quite worried that this old debt is going to come up somewhere on the immigration system, and thus I would be rejected.

Do you think that other governement departments will see this outstanding debt?

Is it a good idea to go and try to pay on it?

What kind of payments should I propose for a 17,000 dollar debt like this?? I only clear about $1800 per month right now. The loan is with CIBC....should I contact them?

Any help will be greatly appreciated...

Thanks