March 31st, 2008 by Questions
I am considering filing for bankruptcy due to substantial student line of credit and OSAP debts. The new bankruptcy law changes the 10 years rule to 7 and it also adds the 5 years hardship clause. My OSAP loans are 5 years old now. My questions are:
1) If the new law takes effect after I file for bankruptcy but before I get discharged can the new law regarding the 5 years law apply to me?
2) If I am in bankruptcy, is it going to affect my spouse when she applies to OSAP?
3) Is the bankruptcy also going to wipe overpayment that I received from OSAP?
Thanks in advance for your response.