What is the Statute of limitations on student loans in Canada?
The statute of limitations is 6 years at the federal level, which includes most student loans. In some cases the statute of limitations can be increased to 10 years. It is very easy to reset the clock on the statute of limitations in Canada.
Is there a statute of limitations on debt in Canada?
In Canada, each province and territory has a different statute of limitation on debt, as follows: The bottom line is, debtors can continue to attempt to collect debts indefinitely. But, they cannot sue or take legal action after the above time frames pass. How do I know if a debt collector is taking legal action against me?
Is there a statute of limitations on student loan forgiveness?
Remember, federal debt isn't subject to your state's student loan statute of limitations timeline. Plus, in order to qualify for most student loan forgiveness programs, you need to be making payments on your loans.