Collection of Old - Stats Barred - Loans - Bankruptcy & Limitations

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Bankruptcy & Limitations

Printed From: CanadaStudentDebt.ca
Category: Immediate Attention and Info!
Forum Name: Collection of Old - Stats Barred - Loans
Forum Description: Post questions about old loans and Statute of Limitations Issues
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=6213
Printed Date: 27/March/2026 at 4:20am
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Topic: Bankruptcy & Limitations

Posted By: SolveStudentDebt
Subject: Bankruptcy & Limitations
Date Posted: 22/September/2011 at 5:26am

If you are considering filing an assignment into bankruptcy, or any program that falls under the BIA, and you have student loans that are statute barred, bankruptcy proceedings is an action that will bring these debts back to life. That thing that many of you refer to "resetting the clock".

If a bankruptcy trustee or agent tells you that this won't affect those student loans, or the bankruptcy proceedings will immediately "get rid of them", think again. Get it in writing. Otherwise, you have placed yoursefl in a worse position. Trustees in bankruptcy have a product that is good for some people but NOT ALL. It costs thousands to go bankrupt and many times more than that for a consumer proposal. Many people who come to me for help were once bankrupt.

Johnny

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

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