I was wondering what the statute of limitations is for student loans in alberta?
Can a creditor collect after that period? I also heard that after a certain time
Period debts are wiped off your credit report. Is this true and if so how long till
Your credit is cleared?

There is a statute of limitations (SOL) on most debts but it varies depending on the type of debt and the locale.

Have you been making payments? A statute of limitations for when the debt is wiped off your credit begins on the date of your last payment and is usually wiped off your credit a few years later (6 or 7... I'm not sure exactly), so if you made a payment last month then this would not apply.

By making payments you agree to pay the debt in full, but if you declared bankruptcy the debt would disappear, a student loan 10 years old or more gets wiped clean with a bankruptcy, loans less than 10 years old do not go away after a bankruptcy

CanadaStudentDebt.ca (http://www.canadastudentdebt.ca/csdfaq.asp)

I had one of these from 1992 and honestly a $50 cable bill was more hassle. First get a copy of your credit file and see when it was assigned, it will be on your credit file in Alberta 6 years past that date as long as you do nothing else. But if you make payments, and they update the file, then it's 6 years from last activity. Crappy to say but once a collection is there it's not in your best interests to pay the collection agency at all.

Unless it's a big loan, student loans are not typically sued for as they can be written off. Mine was with the Royal Bank and the only issue I faced was about 2 years ago when they sold it to a collection agency. Never did quite understand how that worked. Debt written off, yet sold to a collection agency.

Anyway, there are no laws in Canada that state you must talk to a collection agency and once the 6 years has past they cannot re report it. Also they must sue within 2 years of the debt unless collateral is provided. Since it's a student loan then they can't. Really the only thing it will affect in the future is if you ever apply for a student loan again. Gov. won't give you one.

Shady
Financial Force (http://www.financialforce.ca)

I consigned for a student loan for a co-worker. She has not made any payments since 2008. How long can Sallie Mae come after me. Is there a limit.