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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 Super Intendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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need help!!

I am a single mother of three. I graduated in 1999 from a nursing program and worked from 1999-2003 when I had an injury and could not return to work. My income has NEVER been over $21,000 annually and I have been sole support for three children (since their births in `92 and `94 (twins)). My three kids have varying degrees of disabilities all of which have required extensive interventions for SEVERAL yrs. I have not ever been able to repay any loans since graduating due to the cost of living and raising my handicapped children. Other than some minor debts (a few unpaid bills from more than five yrs ago) I only have my large student debt to contend with. I am currently receiving ODSP for my own disability and the ACSD for my girls`. I have applied for and been denied medical loan forgiveness for my CSL and am in the process of the similar app for the OSL. My last loan date was for 1999. Am I able to and would it be possible for me to be granted bankruptcy for these loans under the law right now? What would be my best option? I am not currently being harrassed for the loans because of the app for forgiveness but this debt is looming over my head and I fear I will never be able to get out from under it… HELP…

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One Response to “need help!!”

A licensed trustee said...

Unfortunately, bankruptcy law currently does not allow for the discharge (elimination) of student loans until you have been out of school for a minimum of 10 years. If you graduated in 1999 that means you must wait until 2009 for your student loans to be dischargeable by bankruptcy.