Hardship is something the government criticizes heavily. However, you have to make a case for it and it requires a LOT of time and efforts. It is perhaps the most difficult of the benefit options that is or can be made available to student loan borrowers.
If you make a case - have a case, then it is a good approach. Anyone who has the circumstances that can make the case is better off moving in this direction. Many people go bankrupt, find out that it was a bad move after the fact, and then are left with the conundrum of what you are sort of describing. A bankruptcy trustee can only administer bankruptcy ( insolvency assignment of consumer proposal).
The government of Canada built and regulates bankruptcy and the private trustees who administer it, as it was handed out to the private sector. However, with student loans and tax debt they frown upon it and find ways to exempt themselves from losing to it.
There are no guarantees with anything. You have to make the right decisions and simply go with them based on what you discover to the best route. Trustees are going to find themselves struggling because like any powerful government program handed out to the private sector for business is going to used and abused for economic gain at the expense of who it's market is. Look at the Canada student loans program and the private service center it has (Was CIBC, then Edulinx, then Resolve after scandal involving Edulinx and Nelnet in the USA, now DH Ltd - with all the same people in the upper echelon. If that isn't fishy enough).
The make hundreds of millions of dollars paid by the government, and here you are struggling to survive socially and financially because of that.
------------- Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.
http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com
|