Government Debt? Student Loans & Revenue Canada
Government Debt? Student Loans & Revenue CanadaThe short answer is yes, but…
If the school years for which you borrowed the money ended more than 7 years ago, the loan is discharged when the bankruptcy or the proposal are completed. If it has been less than 7 years, the student loan is included, but will become due again when the files are closed. Do you take in government debt? I have student loans and debt with Revenue Canada.
Income tax debts are also included in a bankruptcy or proposal. You should be aware, though, that if the tax debt is significant, and especially if you have a history of non-filing, the tax department may become involved in your administration to ensure things are current and unlikely to fall behind again.
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