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Dr.Debt
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Joined: 08/November/2004
Location: Canada
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Topic: Student Bankruptcy Posted: 06/October/2009 at 8:49am |
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Quick question..my student loans are at 10 years, which I haven't been able to re-pay. I just started school yet again with grants as a full-time student. If I did declare bankruptcy, will those past student loans be taken off? Thanks!
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administrator
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Joined: 25/January/2003
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Posted: 06/October/2009 at 1:48pm |
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Starting school again has restarted the clock on all the loans
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Administrator Mark OMeara Author of Let Go and Heal: Recovery from Emotional Pain https://LaughSingWrite.com - http://bit.ly/heal2024
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Dr.Debt
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Posted: 06/October/2009 at 3:13pm |
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Even in a "statue of limitations" situation?
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"Teaching should be such that what is offered is perceived as a valuable gift and not as a hard duty." -- Albert Einstein
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administrator
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Posted: 06/October/2009 at 3:27pm |
You asked if the loans would be cleared in a bankruptcy.... and the answer was given regarding bankruptcy. Statute of limitations is a different question. Bankruptcy doesnt deal with Statute of limitations issues... and besides, if you included the loans in bankruptcy, your creditors would be sent notice of your declared debts. Wouldnt that constitute acknowledgement of the debt and remove the limitations?
Are your loans in default? When did you make your last payment?
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Administrator Mark OMeara Author of Let Go and Heal: Recovery from Emotional Pain https://LaughSingWrite.com - http://bit.ly/heal2024
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Iknowalotofstuff
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Joined: 29/September/2008
Location: Chatham, ON
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Posted: 04/January/2010 at 3:51pm |
Who is providing the grants?
You now only have to be out of school for 7 not 10 years as of July 7, 2008 have your SL included in a bankruptcy.
What are you taking with respect to the grants? Who is providing the grants? What field of study were you in with respect to student loans?
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Dr.Debt
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Posted: 29/January/2010 at 9:25am |
Hello, to answer the questions above, I started in the "private" health care sector for school, graduated in 99, havent been in contact or made a payment since 2001, now Ive started in the "public" health care sector for school as of Sep.2010, funded by the Ministry of Training for Colleges and Universities. Hope that helps..thanks for any information.
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"Teaching should be such that what is offered is perceived as a valuable gift and not as a hard duty." -- Albert Einstein
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SolveStudentDebt
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Joined: 05/November/2003
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Posted: 30/January/2010 at 9:49am |
Take into consideration that legislation is subject to interpretation. The BIA states that you can aplply to have the loans discharged after 7 years from the date you ceased to be a full or part-time student. Your income and financial responsibilities are significant factors also.
HAve you ever been bankrupt before?
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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
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