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Student Loan is now 10 years old. I still can`t pay.

Hello,
I finished school June 30, 1998. I went bankrupt in November, 2005 and was discharged in August, 2007. I am self employed and still cannot afford to pay any money towards my student loan which is now in collections. As of July 1, 2008, it has been over ten years since I finished school. But as of July 8, 2008, C-12 says I should have automatic discharge of student loan from my bankruptcy discharge in `06 (8 years after school).
What do I do?

Posted from: British Columbia

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One Response to “Student Loan is now 10 years old. I still can`t pay.”

A licensed trustee said...

As you were discharged before the new laws came into effect the automatic provisions will not apply to you.

In your case, you may make an application to the Court to have your student loans retro-actively included in the bankruptcy you completed in 2007. The trustee that handled your bankruptcy may be able to assist you, or you may hire a lawyer to make the application to the Court for you.