My husband and I now live in a Northern Native village where my husband is posted as an RCMP officer and I am not working (we have two young children). We both have our own student loans and we have just about completed paying off all of our credit cards (most of which were maxed out). Now the debts that we have in student loans alone will be immpossible for us to pay and put food on the table at the same time. We are currently paying off our Ontario student loans (we both are originally from Ontario) and our Canada student loans are coming due. My husband owes $34000 and I owe $46000. It is my understanding that you cannot declare bankruptcy on student loans? We have no assets (we don't own a home and we have a monthly car payment but do not own the car). We have an EXCELLENT credit rating and history and don't know what to do. There is no work for me in this small village. We have made every effort to pay off our debts and have successfully payed off all of our credit cards and we no longer use them. We only pay cash for things. The student loans will kill us though. What can we do? Is there anything that we can do?

If you are not in Alberta, you may wish to contact a Bankruptcy Trustee that travels to your area for more information about options. You should also contact Canada Student Loans about your payment options.

Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca