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Without a doubt about student education loans Under the Bankruptcy & Insolvency Act

The Bankruptcy & Insolvency Act of Canada (the Act or BIA) eliminates many un-secured debts like personal credit card debt, loans from banks, credit lines and pay day loans. You will find, but, specific debts which are excluded underneath the Act. Scholar debts are usually confusing because some debts are immediately released in the event that you seek bankruptcy relief while others cannot.

The very first difference to think about is whether your student education loans are federal government guaranteed in full or personal loans. Then your loans are considered government guaranteed if you have a government loan, for example through the Canada Student Loans Act.