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Student Loan Legislation

I am preparing to file bankruptcy early next month. My end of study date is August 2002. This morning I spoke with a creditor who said the new 7-year rule is for loans taken out after the legislation was enacted so my loans would not be discharged as I would still be held to the 10 year end of study date rule. This is not what I have been led to believe. Any advice would be appreciated.

Posted from: British Columbia

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One Response to “Student Loan Legislation”

A licensed trustee said...

The creditor/collector is wrong. Whether or not they are wrong by accidetn or deliberately you’ll have to decide for yourself… You may want to lodge a formal complaint, or at the very least bring it to someone’s attention so the creditro doesn’t keep spreading incorrect information.

Student loans are dischargeable in bankruptcy or a proposal if more than 7 years have passed from your end of study date.