Bankruptcy Canada - Student Loan
Bankruptcy Canada Questions & Answers
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Anonymous |
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Sept 9, 2008 |
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If you have a Judgment against you for a student loan, and you graduated in 2000, what happens to the Judgment if your Division I Proposal is accepted ? What happens to it in the event of bankruptcy ? Under both circumstances, can it later be revived after the conclusion of each ? I read a case where a girl had a Judgment against her and then declared bankruptcy, only to have the creditor later get it revived in court. The judge said that the courts are loathe to allow people to escape Judgments by declaring bankruptcy.
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From: |
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Karen
Alger & Associates Inc. |
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Sept 15, 2008 |
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Judgements are set aside in Bankruptcy and Div. 1 proposals. Due to the time frame and the fact that the student loan could be forgiven (the actual rule is 7 years from the the end of the month of the date the individual last attended a post-secondary institution), I do not think the creditor has legal grounds to have the judgement revisited. I don't know the facts of the case you refer to and cannot comment on the court's judgement.
Karen Rideout
phone: (403) 296-2973
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