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    agopaul's Avatar
    agopaul Posts: 1, Reputation: 1
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    #1

    Feb 22, 2007, 02:34 AM
    Student loan collection
    I was very mad when student loans were no longer included under bankruptcy protection in Canada, what if any is the statute of limitations to stop collection efforts?
    Al Canada
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member
    		  
    #2

    Feb 22, 2007, 09:15 AM
    Hello ago:

    I don't know if Canadian Law is the same on this subject as American law, but I'm going to guess that it is.

    If you have a debt, you'll owe it forever. There is no court procedure that will relieve you of your burden, short of bankruptcy. Therefore, they can attempt to collect the debt forever. The statute of limitations will only limit the time they can sue you (which is no small thing). It doesn't absolve you of the debt.

    excon
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