Will the student loan be included in the bankruptcy

November 23rd, 2009 by Questions

I will declare bankruptcy in March 2010 and it will be seven years in September 2010 since I last attended the education on student loan. Will the student loan be included in the bankruptcy?

Posted from: British Columbia


One Response to “Will the student loan be included in the bankruptcy”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

As long as you have not attended school in the 7 years prior to the filing of the bankruptcy then this is a debt that will be is cleared by the bankruptcy.

However, timing is essential. The legislation reads that your last day of attendendance is considered to be the last day of the month in which you physically attened.

So if you finished school on April 10th, 2003, then you last day is deemed to be April 30th, 2003. As a result the fist day you would be eligible for discharge would be May 1, 2010.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)