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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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Disability, Student Loans, and 2nd Bankruptcy

Over 20 yrs ago my ex and I declared bankruptcy related to business losses and the recession. Now I find myself in a situation where this is most likely my only way out again. I incurred several thousand dollars in student loans almost 10 years ago. Was ill at the time and although trying to work full time and/or part time over several years i am no longer able to work at all. Student loans make up the largest portion of debt. Because it is a 2nd time bankruptcy would it automatically stay on my credit rating for 14 years?

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One Response to “Disability, Student Loans, and 2nd Bankruptcy”

A licensed trustee said...

You’ll need to do your own research on credit bureaus – check with http://www.consumer.equifax.ca/personal/ and transunion.ca. Those sites should tell you the credit bureaus policies for second time bankruptcy filers.