[crazyhair]

In 1982 I attended a career institution and was granted student loans. I was unable to pay back the loan due to financial hardship. In 1993 I declared bankruptcy which included the loan. I was not aware that I was given two loans. One at a Federal level and the other at a provincial level. This loan was provided through the Bank of Montreal. I re-entered into school again. Now applied for another loan to find out that there are issues with getting the student loan. The Federal side of the loan is cleared and now the Provincial side needs proof that this situation was dealt with. I went back to Bank of Montreal on November 5, 2010 and they advised me that they only keep records on file for seven years. After seven years they get rid of them. What can I do?

[Fr_Chuck]

So you have your copies of the bankruptcy or can get them, will that not show it was included

[Iknowalotofstuff]

The date of your post was November 11, 2010. Assuming your bankruptcy was 30 years ago, that would make the year of bankruptcy 1980. Your bankruptcy would have been made under the old Bankruptcy Act rather than the current Bankruptcy and Insolvency Act 91992). Under the old act, there was no s. 1781.g. Prior to September 1997, a student only had to be out of school for one year to have the loans induced in a bankrupts rather than the subsequent 10 or 7 year requirements

You went bankrupt. You have your discharge. Your student loans were listed in your bankruptcy documents. It is now the burden of the student loan creditor to prove that your student loans are not subject to your discharge. Do not get involved in reverse onus. Send them a copy of your discharge.

The Archives of Province in which you reside will hae a copy of the bankruptcy file. If you need information, go there.

I would suggest that you remind your SL creditor that this student loan is subject to the Bankruptcy Act not the Bankruptcy and Insolvency Act.

[dlwright]

Hello is it possible that I can just pay the principle on my student loan (Direct Loans) of 30 plus years? The principle was only 5,000 at the beginning, but now even though I filed bankruptcy, it is still accruing interest and maybe penalties. The total is near $23,000 and growing. How can I get the interest waived and just pay the principle?