October 3rd, 2012 by Questions

I read that if you file bankruptcy after 7 years the good ole people at student loans will oppose your bankruptcy. My question is; is there a provision that allows them to oppose a proposal after its paid off, assuming 7 years from end of study have elapsed and the student loan is not the deciding vote?

Posted from: Ontario


One Response to “proposal”

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

I think you may have been taking something out of context. In some instances if you have been out of school for seven years prior to filing the bankruptcy you will find that student loans opposes a discharge, but this is quite rare.

In most cases there are no oppositions unless there is something else unusual beyond the mere presence of student loans.

Regardless, there is no provision that allows a creditor to oppose a proposal later on. The only thing that happens is the creditors have the ability to express their concerns through that voting process at the beginning of the file. ‘

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