Address
111 Waterloo Street, Suite 310
London, ON N6B 2M4

CAN I GO BANKRUPT ON GOVERMENT DEBT?

September 5, 2017

This is a question we often get at this time of the year.

Government debts such as taxes, EI and welfare overpayments and student loans are dischargeable in a bankruptcy or proposal proceeding.ice and arrange your free consultation.

In some cases there are limitations in terms of values and time frames. 

For example for a student loan to be dischargeable you must have been out of school for at least five years.  If you have tax debt that meets two criteria 1, more than $200,000.00 in value; and 2, representing 75% or more of your total debt you will be required to attend a court hearing for the discharge of the debt.

For more information call the office and arrange for your free consultation.