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Help Please

Printed From: CanadaStudentDebt.ca
Category: Dealing with the Banks!
Forum Name: Scotia Bank Horror Stories...
Forum Description: Describe your dealings with Scotia
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=2305
Printed Date: 26/March/2026 at 10:42pm
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Topic: Help Please
Posted By: Novox
Subject: Help Please
Date Posted: 02/March/2005 at 10:01pm

I finished school in 98' and my student loan is currently at fault. I started going back to school to continue with the next level in 2002 for  a different major,  but have been working and paying the tuitions for my new studies from my own pocket. The studies is part time and i take courses one a while (I am not sure if student loan is aware of my new studies). So, I cannot prove that I am busy with school and request a time extension.

My question is since i am still student but have not got any student loan since 98' , would the 10 years law about bankrupcy apply from 98' or from the time i finish school in the next few month??

Another words, if i take a course or two here and there would that be counted and  the 10 years will start after those courses?

How would they find out i am student if I apply for bankrupcy when 2008 arrives?

Thanks so much for your Help.

 

 




Replies:
Posted By: pretzel_logic
Date Posted: 03/March/2005 at 2:11am

I think it depends if the studies are considered part of a recognized post-secondary education program in their list of legitimate post-secondary institutions. And in your case, it seems they are. 

Now, I don't think getting courses towards private certifications in IT, say, which I've done myself after having quit university, would reset the ten-year period. Because I  doubt that this type of activity shows up in any government database. And I don't believe government-sponsored training programs, those to recycle the work force, if they're dealing with a small private training institution, would apply either. They shouldn't. Or that would amount to entrapment, the state thereby resetting the clock for us as a "favor". 

But not sure about this. And would like to know for sure too. 

 



Posted By: pretzel_logic
Date Posted: 03/March/2005 at 3:10am

But this said, that ten-year rule is not exactly written in stone. There are strong hints that they could change the text of the law, putting either a five (more likely) or a two instead of the ten, thereby potentially relieving thousands, including you and I and many of these other guys around us, whoever qualifies.

Or maybe the fruits of your studies in the meantime will make this a non-issue? Try and stay positive, either way. 



Posted By: Novox
Date Posted: 03/March/2005 at 6:56pm

Thanks for your reponse. I'd hope the law changes for the better for all of us.But you are absolutely right; the key is to stay positive.

cheers

 



Posted By: Madmorrigan
Date Posted: 10/March/2005 at 11:30am
I was enrolled in a course for two hours...I'm not kidding. Because of this, the clock was rolled forward to show the new date....so, instead of my 10 years being up in 2007, it's now up in 2011.

If you've used your SIN (and most schools require that you do, I have no idea why, though), your ten years will most likely have just recently started again.





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