July 2nd, 2010 by Questions
I had a student loan dating 1997, I went back to school in 2005. I have declared bancruptcy and thought the loan from 1997 would be discharged as I am not profiting from that course. The bank states that my end of study date is 2005, therefore I am still responsible for the 1997 loan, Is this correct?
Posted from: Alberta
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July 05, 2010 at 8:52 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
Unfortunately the bank is correct. By returning to school you re-set the clock on all your student loans and therefore you would not have met the criteria for the 7 year rule. As a result your student loans will not be cleared by the filing of a bankruptcy.