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Student Debt

I have creditors harassing me and I’m definitely going bankrupt. The problem is Bill C-55 and the 10 year student bankruptcy rule.

I want to wait until C-55 is passed as, if I understand it correctly, if I go bankrupt before C-55 passes I’m locked in for 10 years but if I go bankrupt after I’m locked in for 7 years.

Is this correct?

One Response to “Student Debt”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

This is typically the way changes to the legislation have been implemented in the past and I would expect Bill C-55 to follow this same pattern.