Student Loans in Bankruptcy Blog

Canada Student Loan Bankruptcy Legislation

Student loans in Canada are not automatically discharged in a bankruptcy or consumer proposal unless they are over 7 years old. This blog tracks changes to this legislation, and current student loan and bankruptcy developments.

The Great Debate: Private Member’s Bill Recieves Second Reading

Private member’s bill C-236 to shorten the length of time from the end of studies when a student loan is automatically discharged from 10 years to 2 years received second reading in the House of Commons today.

The Hansard summary of this debate is an excellent summary of the four political parties position on the topic. It appears that every party except the Liberals favours a change in the current legislation.

Stay tuned to this space for more information, as it happens.

2 Comments »
  • Thank you so much for following this issue. I just got back from a meeting with a debt counsellor and he told me about this legislation.

    I have a HUGE student load debt that I’m afraid I will never be able to pay off. Having it hang over my head is messing up my health and my mind.

    Unfortunately, I took a few classes last year, so now instead of having to wait a few years (I was last a full time student in 97), now I have to wait until 2014 before I can get out from under this?

    I can’t wait that long. I’m 35 now…

    Comment by Anonymous — May 10, 2005 @ 10:11 pm
  • Telemarketer Repellant

    If they say they’re John Doe from XYZ Company, ask them to spell their name. Then ask them to spell the company name. Then ask them where it is located, how long it has been in business, how many people work there, how they got into this line of work, if they are married, how many kids they have, etc. Continue asking them personal questions or questions about their company for as long as necessary.

    Say “no” over and over. Be sure to vary the sound of each one, and keep a rhythmic tempo, even as they are trying to speak. This is most fun if you can do it until they hang up.

    If MCI calls trying to get you to sign up for the Family and Friends Plan, reply, in as sinister a voice as you can, “I don’t have any friends, would you be my friend?”

    If they start out with, “How are you today?” say, “I’m so glad you asked, because no one these days seems to care, and I have all these problems. My arthritis is acting up, my eyelashes are sore, my dog has the gout…”

    If the company cleans rugs, respond: “Can you get out blood? Can you get out goat blood? How about human blood?”

    Tell the telemarketer you are busy at the moment and ask him/her if he/she will give you his/her home phone number so you can call him/her back. When the telemarketer explains that telemarketers cannot give out their home numbers say, “I guess you don’t want anyone bothering you at home, right?” The telemarketer will agree and you say, “Me either!” Hang up.

    Ask them to repeat everything they say several times.

    Insist that the caller is really your buddy Leon, playing a joke. “Come on, Leon, cut it out! Seriously, Leon, how’s your momma?”

    Tell them you are hard of hearing and that they need to speak up . . . louder . . . louder . . .

    When the salesperson asks, “Is this the homeowner?” say, “Is this the salesperson?” And when they say, “Yes,” hang up.

    Comment by dunwoody — November 17, 2005 @ 8:44 am

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