Personal Bankruptcy Forum


Author:   Joe
Date:   October 22, 2002
Question:  

I have made a proposal (with the help of a para-legal) for settlement of my debts, which is primarily with HRDC due to to some Canada Student Loans. These loans were taken out in 1980 to 1983. HRDC is refusing to settle not because of the details of my case but rather as they say "there is no provision in the act" that would allow them to accept less than 100% of the principal ($6,000) and the interest ($19,000). Is this so? Does HRDC ever settle?

 


From:		  

Ann Clarke, Collins Barrow Limited
Date:   October 22, 2002
Answer:   We understand that HRDC or any government agency will consider and often accept proposals filed under the Bankruptcy and Insolvency Act legislation (through a Trustee or the OPD program) but will not accept informal proposals such as the one you have offered.

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




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