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Student Loans it Can Get Worse!!!

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    Student Loans it Can Get Worse!!!

    check this out....what a story!!


    Student loan horror stories: What's the worst that can happen?


    8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

    #2
    Canadian Bankruptcy

    Just like US law, Canadian law does not require you to be a citizen to take advantage of their bankruptcy laws. You only have to be a resident. And unlike US law, you can discharge student loans after they're 10 years old.

    So, If I were hopelessy buried in student loan debt, before I would commit suicide as a means of protesting to Congress --like the people in that article are talking about -- I believe I would tough it out for 10 years, get lawful residency in Canada, an file for bk up there.
    Pay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer.

    Comment


      #3
      Originally posted by MSbklawyer View Post
      Just like US law, Canadian law does not require you to be a citizen to take advantage of their bankruptcy laws. You only have to be a resident. And unlike US law, you can discharge student loans after they're 10 years old.

      So, If I were hopelessy buried in student loan debt, before I would commit suicide as a means of protesting to Congress --like the people in that article are talking about -- I believe I would tough it out for 10 years, get lawful residency in Canada, an file for bk up there.

      you mean to say this would discharge all existing debt in the us, including student loans?????
      if so.....your suggestion... or to better say, your statement would not only cause a mass migration over to canada....but it would be, as far as i would view it for some, borderline...BRILLIANT???
      8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

      Comment


        #4
        would this also be applicable to IRS debt????? oh no...a WAY around the system???

        can't be??????...LOL!!
        8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

        Comment


          #5
          Originally posted by tobee43 View Post
          you mean to say this would discharge all existing debt in the us, including student loans?????
          U.S. and Canada recognize each other's bankruptcies. By treaty, if I'm not mistaken. [See disclaimer below].

          I had a client recently who had dual US / Canadian citizenship who had a certain kind of debt -- I can't go into specifics -- that made U.S. bankruptcy worthless for him. He went back to Canada and filed there and even the debts he had contracted in the US were discharged. In dealing with and assiting his Canadian bankruptcy attorney, I learned a bit about Canadian bankruptcy law, including the residency requirements. A bit of trivia -- Canadian bankruptcy isn't done by lawyers, but is done by a court official called a "trustee".

          if so.....your suggestion... or to better say, your statement would not only cause a mass migration over to canada....but it would be, as far as i would view it for some, borderline...BRILLIANT???
          Thank you.
          Pay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer.

          Comment


            #6
            Another bit of trivia. On the Canadian equivialent of our Schedule "J" , there is a line for alcohol. How cool is that?
            Pay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer.

            Comment


              #7
              you aren't hiring are you...LOL!! although i specialize in research, i can change it to bk! i could move to mississippi!..(but i was first in my class!) LOL!!
              8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

              Comment


                #8
                Originally posted by MSbklawyer View Post
                Another bit of trivia. On the Canadian equivialent of our Schedule "J" , there is a line for alcohol. How cool is that?
                No! way....is it itemized as follows:

                1. Grey Goose
                2. Single Barrel Jack
                3. Courvoisier Cognac
                4. Chateuneuf-du-Pape

                etc?
                8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                Comment


                  #9
                  Here it is: http://strategis.ic.gc.ca/eic/site/b...g/br01934.html

                  Canadian Schedule "J"

                  I wonder what the expense for "hydro" is for ?? It's not water because there's a separate blank for that.
                  Pay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer.

                  Comment


                    #10
                    Originally posted by MSbklawyer View Post
                    Here it is: http://strategis.ic.gc.ca/eic/site/b...g/br01934.html

                    Canadian Schedule "J"

                    I wonder what the expense for "hydro" is for ??

                    i would qualify that as follows:

                    1. mineral
                    2. bubbled /carbonated (please consolidate & enter total of both on line 2)
                    3. imported
                    4. natural spring
                    5. dirty
                    6. muddy....


                    personally, i prefer the muddy, however, it must come from only the finest swamps.
                    8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                    Comment


                      #11
                      Hydro is power as in hydroelectric... it's in the section of the document about utilities like heating fuel, telephone, cable and water...
                      Figured out we were in trouble: (Wait, we're in trouble? ) Stopped paying creditors: Aug 2010 Filed Chap 7: Apr 29, 2011 341: Jun 1, 2011 Report of no distribution: Jun 1, 2011 Discharged Aug 2, 2011

                      Comment


                        #12
                        Originally posted by StartinOver View Post
                        Hydro is power as in hydroelectric... it's in the section of the document about utilities like heating fuel, telephone, cable and water...


                        thank you StartinOver for that clarificaton...it was a bit confusing!
                        8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

                        Comment

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