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*Unsecured debt includes credit cards, lines of credit, bank overdrafts, payday loans, and unsecured personal loans (excluding student loans). It does not include mortgages and car loans.

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How can we help you?

If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

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What if I’ve become disabled?

I became disabled shortly after I left school (about eight years ago). I had incurred a student loan debt of around $10,000 while I was in school. Now, I live on disability benefits of less than $1,000 per month, and can expect no improvement in my income due to my inability to work. How would bankruptcy affect me, particularly my student loan debt?

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One Response to “What if I’ve become disabled?”

A licensed trustee said...

Under the current legislation, your student loan would survive your bankruptcy. Student debt may only be discharged by bankruptcy if you’ve been out of school for at least 10 years. That law may change and if it does you may be able to file earlier.

Sorry, but for now, you’ll simply have to wait a couple of more years to deal with your problem.