student loan

June 21st, 2011 by Questions

Will my student loan be discharged as well as my 407 debt?

Posted from: Ontario


One Response to “student loan”

, A licensed trustee said:

In order for your student loan debt to be discharged be either a bankruptcy or a consumer proposal, you need to have been out of school for at least 7 years. If you have been then the debt should be dischargeable.

The 407 is a bit trickier. To date, no one has challenged the 407 in Court so they have taken the position that their debt survivies. Until someone does challenge them, they will refuse to renew your licence until the debt is paid. The reason no one has challenged the 407 is that in most cases, the fees owed cost less than a Court challenge…

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.)