student loan

January 8th, 2008 by Questions

I have been out of school for almost ten years, when i first finished school i was not working and then when i went to work i was working on and off again , work was not stable , i`am a single parent , my child is now working herself but still lives at home. I`am now working full time and making decent money. I have been continually harassed over the years by and do not receive any gst /hst etc… nor can i get credit . I have been contacted by thee sherriffs department and right now i don`t know where my loan stands. I don`t know what i should do next ,
where my loan stands. I don`t know what i should do next ,


One Response to “student loan”

, A licensed trustee said:

Even thought the new law was passed in December 2007, until it is implemented, you must have been out of school for 10 years in order for your student loans to be dischargeable in bankruptcy or a proposal.

The new law reducis that period to 7 years (5 on application to the Court). It is likely that the provisions of the new law will be retroactive so yu may want to find a trustee in your area to discuss your options now (instead of waiting for the 10 year clock to expire).

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