Canada Student Loan Bankruptcy Legislation

The private member’s bill to amend the Bankruptcy & Insolvency Act to reduce the discharge period for student loans from 10 years to 2 years was defeated in the House of Commons today by a vote of 168 to 105.

As reported previously on this blog, it was unlikely that this bill would pass.

Former students must now wait for a more comprehensive review of bankruptcy legislation, which will likely not occur until a new government is in place.

Stay tuned to this space for further developments.