credit card bill

On student loans there IS a stipulation that if its 10 years after you finished school that they can be included in Bankos. But thats a looooong time to have them sit in collections, and normally by that time theyve gotten a judgement against you , and those never go away (well 21 years, but may as well be forever)

First thing. Cancel your credit card(s). DOn't just cut them and dump them. You will still have to make payments, but they won't hit you with any "user" fees.

Is that in Canada? Because I am almost positive there is no such stipulation here. But if there is. Oh yeah. Bankruptcy here I come. I don't care if I can never get credit again. It would be worth it.

They changed the bankruptcy laws a few years ago. It used to be that all unsecured debts could be wiped out but congress changed that. Now consumer creditors can still make some claim against assets or garnishment, as part of your bankruptcy recovery. All my friends and relatives who have filed, did so before the new law went into effect so i dont have more info on that.

The student loan thing (in the USA) only applies to government GSL-guaranteed student loans. GSLs are administerred through the state but are actually a federal program. If you default the government pays the lendor and takes over service on the note. Debts to the government (including fines but not certain license fees) are priority debts and Uncle Sam will rifle your pockets before everyone else in line. Guess what my work-study job was in college - Financial Aid.