student loan 10 year rule
May 14th, 2008 by Questions
when can you included a student loan in a bankruptcy, I heard that the law recently changed from 10yrs down to 8yrs after the last day of your schooling you can include it. Is this true????..
Posted from: British Columbia
One Response to “student loan 10 year rule”
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.)
You must be logged in to post a comment.
May 15, 2008 at 9:49 am, Barton Goth GCO Bankruptcy Trustees said:
A student loan is always included in a bankruptcy, but it can only be cleared if you have been out of school for greater than 10 years.
There are changes in the works that will reduce that down to 7 years, but they are not active law (rumor has it they will be enacted in November 2008, but I have heard these rumors for 2 years so I have know way of knowing if this is factual or not).
If you want to be kept upto date concerning these changes go to the https://www.bankruptcy-canada.ca/student-loans-bankruptcy-newsletter.htm and you will find a place you can sign up for an e-newsletter that will be sending around updates concerning this legislation.