Bankruptcy and Proposal Info and Issues - 10 year clock reset by CCRA payment?

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10 year clock reset by CCRA payment?

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Topic: 10 year clock reset by CCRA payment?

Posted By: terrym
Subject: 10 year clock reset by CCRA payment?
Date Posted: 20/February/2005 at 5:35pm

Can anybody verify if having your income tax refund clawed back by Rev Can and applied to your student loan debt causes the clock to be reset on the 10 year rule? For example, if 2004 refund was clawed back, does that mean HRDC can pursue you until 2014, even if you graduated in 1990? Please advise.

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trm

Replies:

Posted By: SolveStudentDebt
Date Posted: 20/February/2005 at 5:59pm

I am assuming you are referring to the 10 year bankruptcy limitation period. If so, then income tax liens have nothing to do with those statutes.

Thinking of bankruptcy?

Best of luck to you.

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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com

Posted By: agentsly007
Date Posted: 30/July/2007 at 2:35pm

I graduated back in April of 1997..By the looks of it it's already been passed 10 years so does that mean that my loan becomes stats barred even though I began paying the Collection agencies just 4 years?

can someone shed light on this for me??? PLEASE

Posted By: SolveStudentDebt
Date Posted: 31/July/2007 at 1:38am

When was your last payment made? HOw long have you waited to pay since graduation?

Posted By: agentsly007
Date Posted: 31/July/2007 at 5:27am

I started paying NCO and CBCL in 2003 but I graduated in April 1997. So far I have been giving them whatever I could for the past 4 years and I even increased my amount whenever I could. I really don't understand the statutes of limitations or this statts barred thing and when does it start and end..

Posted By: DB1972
Date Posted: 31/March/2008 at 9:56am

I didn't need any luck when i did it.

ten years and one month after graduating....i filed bk....waited nine months got my auto discharge....didn't hear a word the the student loans people. i'm not in poverty, not disabled. i just got rid of them and bk was the best thing i ever did. it was easy. virtually no affect on my life, i got a unsecured credit card three months after the discharge, renewed my mortgage......no problem....decent rate.

the best thing i ever did.

Posted By: SolveStudentDebt
Date Posted: 31/March/2008 at 11:46am

People who are bankrupt are those who have no ability to pay debt, and are unable to ever repay debt that is owed. You got lucky.