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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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student loans and revenue canada

what can i do when i am a single parent and i owe revenue canada for student loans and it has only been 2 years since i was last in school. the loans are at 19,000 now.

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One Response to “student loans and revenue canada”

A licensed trustee said...

I assume you owe the federal government for your student loans; you don’t owe Revenue Canada, although it is Revenue Canada that withholds your tax refund if you don’t pay them.

Your best options are either to contact a credit counsellor for assistance, or contact the student loans people directly, and apply for interest relief until your income increases to the point where you can make repayments. By contacting them and discussing your situation you may be able to negotiate reduced payments.

Unfortunately, you cannot go bankrupt and discharge a student loan until the loans are ten years old.