Student loans and bankruptcy

Author:		Anonymous
Date:		July 11, 2008
Question:		I filed my first bankruptcy in April 2008 and expect to get discharged on January 2009. I graduated in January 2002. When I applied for the bankruptcy I was asked to sign a statement stating that my studentloan would not include in the bankruptcy because I graduated less than ten years ago. Now that the law has passed for seven instead of ten years, can my student loan be include in the bankruptcy, even when I filed the bankruptcy the law has not passed for the seven years exeption?
From:		Karen, Alger & Associates Inc.
Date:		July 14, 2008
Answer:		You are correct in that the amendments have very recently become law - July 7, 2007. We are presently reviewing the legislation to see how it relates to debtors in your current situation. There is a hardship clause that would allow you to make an application after the fact if the law doesn't encompass a discharge for your present situation. If you are bankrupt with our firm, you will likely receive further clarification in the near future. Karen Rideout phone: (780) 296-2973   If you wish to talk to one of the Edmonton bankruptcy professionals at Grant Thornton Alger Inc., you can call us TOLL FREE from anywhere in Alberta at 310-8888. After hour appointments at our Edmonton bankruptcy offices are available. Or you can click here to submit a question to the Edmonton bankruptcy Q&A forum

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