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Loan Default question

I received Canada Student loans that I was to begin repaying in November 1996. I have not made a payment since at least 1999, if not longer before that. Is is still out there?

Posted from: British Columbia

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One Response to “Loan Default question”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

This partially depends on what collection activity there has been over those years, but as a general rule debts do not disappear with time so likely you stilll owe this amount.

Technically there are Statute of Limitation laws, but creditors can easily avoid these from becoming issues by taking very simple collection activity, which most creditors do, so usually they do not become an issue.