Comments on: Student Loans http://www.bankruptcy-edmonton.com/bankruptcy/2007/02/student-loans.html Bankruptcy Edmonton Tue, 07 Feb 2012 15:47:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Barton Goth, GCO Inc. Bankruptcy Trustees http://www.bankruptcy-edmonton.com/bankruptcy/2007/02/student-loans.html/comment-page-1#comment-37 Barton Goth, GCO Inc. Bankruptcy Trustees Mon, 05 Feb 2007 16:55:00 +0000 http://www.bankruptcy-edmonton.com/bankruptcy/2007/02/student-loans.html#comment-37 Your friend was correct, once 10 years have elapsed since you last attended school, your student loans become eligible to be discharged by filing for <a href="http://www.bankruptcy-alberta.com/bankruptcy-alberta.htm" rel="nofollow">bankruptcy</a>. One thing to be very cautions about is timing. While the Bankruptcy Act Stipulates 10 years, the way this is actually measured is they look at the last day you attended and the last day of that month is considered the last day attended. For instance, if you attended school last on April 4, 1996, then your last day of attendance according to the legislation is considered to be April 30, 1996. Therefore if you filed a bankruptcy at any time prior to May 1, 2006 your student loans would not be cleared. The best thing to do is to contact a <a href="http://www.bankruptcy-alberta.com/askus.htm" rel="nofollow">licensed trustee</a> in your area and they will be happy to look at things and determine what would be the optimal time for you to consider filing. Your friend was correct, once 10 years have elapsed since you last attended school, your student loans become eligible to be discharged by filing for bankruptcy.

One thing to be very cautions about is timing. While the Bankruptcy Act Stipulates 10 years, the way this is actually measured is they look at the last day you attended and the last day of that month is considered the last day attended. For instance, if you attended school last on April 4, 1996, then your last day of attendance according to the legislation is considered to be April 30, 1996. Therefore if you filed a bankruptcy at any time prior to May 1, 2006 your student loans would not be cleared.

The best thing to do is to contact a licensed trustee in your area and they will be happy to look at things and determine what would be the optimal time for you to consider filing.

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